Prime Minister Calls on U.S. Banks to Enter Iraqi Market
Prime Minister Ali Faleh Al-Zaidi called on U.S. banks and financial institutions to participate in building a new economic future for Iraq, stressing that the entry of American banks into the Iraqi market could support the development of the country’s banking sector and strengthen its integration with the global financial system.
Al-Zaidi said Iraq is entering a new phase of economic transformation and financial and banking reform, noting that the limited integration of Iraqi banks with the international financial system has been one of the factors contributing to the sector’s weakness in recent years.
He stated that the government is implementing a comprehensive plan to reform state-owned banks, including measures to improve efficiency, strengthen governance and compliance, and enhance their ability to meet the requirements of a modern economy.
The Prime Minister also highlighted significant investment opportunities for foreign banks and financial institutions in areas including project financing, investment, and banking services.
The call comes as Iraq seeks to expand its international banking relationships and improve trade finance channels while strengthening anti-money laundering requirements and compliance with global regulatory standards.