Mr. Wadee Al Handal Discussed Iraq’s Banking Transformation at the Arab Banking Conference in Beirut

At the Arab Banking Conference in Beirut on 28 November, Mr. Wadee Al Handal, Chairman of Al Handal International Group and President of the Iraqi Private Banks League, highlighted the growing interest of Arab and Gulf banks in partnerships with Lebanese institutions.

He discussed the major transformation underway in Iraq’s banking sector, describing it as one of the most important reform phases in the country’s financial history. Following a comprehensive roadmap by the Central Bank of Iraq, these reforms aim to increase openness to international markets and strengthen the banking system.

Mr. Al Handal also noted that the reform process may involve mergers or strategic divestments, streamlining the sector for greater efficiency and competitiveness. He emphasized the importance of combining Arab expertise with Iraqi capabilities, supported by a young, dynamic population that will drive the development of advanced banking institutions.

With continued Gulf investments and upcoming banking initiatives, Mr. Al Handal affirmed that Iraq now presents a more open and stable outlook, with Arab-Iraqi partnerships poised to expand across both banking and broader economic development.