Bahraini banks sign a memorandum of understanding with the Iraqi Private Banks Association

 
07/06/2021

The Bahrain Association of Banks signed with the Association of Iraqi Private Banks a memorandum of understanding aimed at achieving fruitful cooperation between the two associations in the field of exchanging experiences and knowledge and strengthening banking cooperation in all fields, during a recent remote meeting. The memorandum was signed by Mr. Adnan Ahmed Yousef, Chairman of the Board of Directors, and Mr. Wadih Nuri Al-Handal, Chairman of the Board of Directors of the Association of Iraqi Private Banks.

This memorandum stems from the message of the Bahrain Association of Banks and the Association of Iraqi Private Banks, and their tasks in defending the interests of banks and financial institutions and highlighting their role in sustainable development programs through close cooperation with regulatory authorities and all partners and stakeholders, as well as effectively promoting their effective contribution to promoting and attracting investments .

The two parties also agreed to form a joint committee to consult and agree on implementing and following-up joint plans and programs and setting implementation mechanisms.

On this occasion, Mr. Adnan Ahmed Yousef, Chairman of the Board of Directors of the Bahrain Association of Banks, said, "Bahrain has had a rich and diversified banking experience over the past five decades, which has greatly enhanced it in its response to the repercussions of the Corona pandemic. With Arab banks, at the forefront of which is the Association of Iraqi Banks, and Iraqi banks, with which we have strong brotherly relations and have broad prospects for diversifying and developing them during the next stage.”

On the other hand, the head of the Iraqi Private Banks Association, Mr. Wadih Al-Handal, said, "The Iraqi Private Banks Association has a long history in developing the banking sector, at various technical, administrative, advisory, human resources and other levels, and this memorandum will contribute to opening horizons with the Bahraini banking sector . "

He added, "This memorandum will enhance joint work between Iraqi and Bahraini banks, transfer experiences between the two parties, in addition to holding training courses at a high level ."

Al-Handal valued the role played by the Bahrain Association of Banks, and we affirm that the Association of Iraqi Private Banks is working with the Central Bank of Iraq and other parties to create a solid banking sector.

The two parties will work through the memorandum of understanding to exchange experiences, studies and relevant research, depending on the resources available to them. The two parties will also cooperate in providing consultations, conducting joint research and studies that fall within their competence, and organizing and implementing conferences, workshops, seminars and events in various common fields, in addition to To cooperate in the field of organizing training programs related to the rehabilitation of banking cadres and according to the common interests and needs between the two parties, and in line with the current and future needs of the banking sector in Bahrain and Iraq, and to exchange information and its sources and databases between the two parties, and to coordinate at the level of executive departments and their committees in order to exchange experiences information and joint research.

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