On April 25-26, Wadee Al Handal, President of the Iraqi Private Banks League and Chairman of Al Handal International Group, attended the “Arab Economic Security In Light of Geopolitical Changes Forum” in Beirut, organized by the Union of Arab Banks. Al Handal highlighted the forum's significance amidst complex regional changes, particularly affecting Iraq's banking sector. Despite Iraq's ongoing economic challenges, including restrictions on the private banking sector's use of the dollar, efforts to comply with anti-money laundering and terrorism financing laws have been hindered by a recent targeted attack on the sector, impacting domestic banking services and undermining public trust.

Recognizing the critical role of the Union of Arab Banks, international organizations, and Arab banks in addressing these challenges, Al Handal stressed the need for cooperation to develop a roadmap for the sector's future. He emphasized the necessity of swift integration of the Iraqibanking sector with its Arab counterparts, with ongoing efforts by the Iraqi Private Banks League, governmental bodies, and international partners to support affected banks and restore their dollar transactions.

Al Handal commended the Iraqi government and central bank's efforts to strengthen ties with international financial institutions, facilitating the Iraqi banking sector's integration into the global financial system and contributing to the gradual increase in the Iraqi dinar's value. He also noted Iraq's progress towards electronic governance and digital payments, underscoring the importance of adapting to technological advancements to enhance the country's financial performance.