Paris hosted the 2026 Arab-European Banking and Economic Summit, organized by the Union of Arab Banks under the patronage of French President Emmanuel Macron and bringing together banking leaders, economic experts, and policymakers from across the Arab and European regions.

Mr. Wadee Al Handal, President of the Iraqi Private Banks League and Chairman of Al Handal International Group, participated in the summit as part of the Iraqi delegation, contributing to discussions focused on global financial developments, economic challenges, and opportunities to strengthen cooperation between Arab and European financial institutions.

The participation aimed to highlight key international economic and banking developments while emphasizing Iraq’s role in addressing current challenges and advancing sustainable development. During the summit, Mr. Al Handal praised the formation of Iraq’s new government, describing it as an important step at a time that requires a clear economic vision and serious commitment to reform and development.

He noted that leadership emerging from within the private and banking sectors reflects a modern approach to governance based on efficiency, expertise, and effective decision-making. He also emphasized the importance of leveraging banking and financial expertise to support economic growth, strengthen resource management, and contribute to long-term stability and prosperity.

The Iraqi delegation also shared insights into the country’s economic landscape and ongoing efforts to address financial challenges while supporting stability and development. During the discussions, Mr. Al Handal highlighted the banking sector reform initiatives led by the Central Bank of Iraq, noting that the reform plan included increasing bank capital, reassessing branches of foreign banks, and issuing regulations for the licensing of digital banks.

He explained that the government’s and Central Bank’s efforts to advance digital transformation and financial inclusion have contributed to significant growth across the sector. As a result, the number of bank accounts in Iraq has exceeded 15 million, more than 20 million bank cards have been issued, approximately 179,000 electronic payment devices have been deployed, and electronic government revenues have surpassed IQD 15 trillion, reflecting the continued development of Iraq’s financial sector.

The summit provided a platform for dialogue between Arab and European banking and economic leaders, fostering the exchange of expertise and exploring opportunities for greater regional and international cooperation.