President of the Association of Iraqi Private Banks: Iraq has a new experience in the field of Islamic banking and works to develop

Iraq has a new experience in the field of Islamic banking and is working on developing it by developing human capabilities and benefiting from the experiences of other countries, the head of the Association of Iraqi Private Banks Wadih al-Hanalal said on Wednesday.

Speaking during the second morning session of the Global Forum of the General Council of Islamic Banks and Financial Institutions in Istanbul, the President of the Association of Iraqi Private Banks, Wadih Al-Hantal, discussed with a number of Islamic banking leaders in the Arab and Islamic world and the challenges facing Iraq as a result of the global financial crisis and the positive role that Played by the Central Bank of Iraq in this area.

Al-Hanalal said that Iraq has a new experience in the field of Islamic banking and is working on developing it by developing human capabilities and benefiting from the experiences of other countries.
He pointed out the importance of banking awareness, financial inclusion and training, as three conditions necessary to advance the Islamic banking market in the present and future.
He urged banks to develop practical plans in the fight against unemployment and job creation through the opening of new technology windows, including digital banking and the application of financial coverage so that banks can deliver their products to the farthest point in the countryside.

Turning to the efforts of the Association of Iraqi private banks to open up to banks in Arab and foreign countries, he pointed out in this area the conclusion of two important agreements with Bahraini banks recently, which gave added value to the work of Iraqi banking.

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