At the Union of Arab Banks conference held in Baghdad on May 6th, Wadee Al Handal,Chairman of Al Handal International Group and President of the Iraqi Private Banks League, played a significant role. Al Handal emphasized the crucial nature of the strategic partnership between the Iraqi Private Banks League and the Union of Arab Banks. This partnership, he noted, would lead to substantial projects aimed at advancing banking operations in Iraq and fostering cooperation with foreign banking institutions.

Al Handal expressed optimism regarding Iraq's increasing openness to the globalcommunity, foreseeing benefits such as improved economic conditions, heightened local and international investments, and a strengthened role for the banking sector in the nation's development.

The overarching vision, as outlined by Al Handal, revolves around fortifying the Iraqi banking sector to effectively tackle challenges, extend support to various project financings, bolster the Iraqi economy, cultivate domestic and international partnerships, and advocate for financial inclusion within society.

Against the backdrop of regional economic and banking challenges, Al Handal highlighted issues faced by Iraqi banks, notably the limitations in dealing with the US dollar, a currency integral to approximately half of Iraqi banks. 

Acknowledging the efforts of the Iraqi government and the Central Bank of Iraq in addressing these challenges, Al Handal commended the resolution progress with the US, particularly following Prime Minister Muhammad Shia al-Sudani's visit to Washington. Resulting outcomes, including the formation of a review committee and the establishment of a roadmap for solutions, were noted as positive steps forward.

Al Handal affirmed the readiness of the Iraqi Private Banks League to collaborate and support governmental and central bank initiatives, aiming to enhance the banking environment and infrastructure in alignment with international standards. The commitment to restoring normalcy to the Iraqi banking sector remained unwavering, with ongoing engagement with Arab central banks, international banks, and Iraqi authorities to advance banking operations.