Connecting Iraq with global decision makers, this is an event too important to miss. Under the Patronage of H.E Ali al-Allaq, Governor of the Central Bank of Iraq leading financial figures will gather in a way that no other event can, key Iraqi officials, more than 200 investors, global corporate leaders, bankers, finance and legal professionals, and the most influential personalities on the banking sector in the region.
The Iraq Finance 2017 conference gathers together all major stakeholders involved in directing the economic development of Iraq.
- Hear from the highest ranking Iraqi officials
- Iraq’s banking and financial industry, risks and opportunities
- Network at a high level
- Discover new business niches
- Seal deals with top decision makers
About the event
Building up on the success of the 2012 and 2014 events, the raq Finance 2017 conference will continue to promote an open dialogue between the Iraqi officials and the international business partners and investors within and beyond the financial services industry. Under the patronage of the Prime Minister of Iraq, the support of the Central Bank of Iraq and an unrivaled attendance of the senior Iraqi delegation confirmed, the Iraq Finance 2017conference will address the opportunities available to foreign specialists and investors in the development of the banking sector in Iraq by creating a platform for all stakeholders to network with key decision-makers, exchange opinions and expertise, and source business deals.
As the fourth edition of the hugely successful series, Iraq Finance 2017 conference and exhibition continues to provide a unique platform for dialogue and partnership between the Iraqi institutions and the international business community. Banking, Financial Services, Investors and Managers are provided with an unparalleled number of high ranking delegates of Iraq, led by the Central Bank of Iraq and under the patronage of the Prime Minister’s Office. Iraq Finance 2017 will address the opportunities available to foreign specialists and investors in the development of the banking sector in Iraq by creating a platform for all stakeholders to network with key decision-makers, exchange opinions and expertise, and source business deals.
Recommendations from Iraq Finance 2016
Iraq Finance 2016, the third international conference and exhibition on finance and banking in Iraq took place on 07-08 March 2016 in Beirut, Lebanon. The event was held under the patronage of His Excellency the Governor of the Central Bank of Iraq, Mr Ali al-Allaq, and with the participation of His Excellency the Minister of Planning, Dr Salman al-Jumaili, His Excellency the President of the National Investment Commission, Dr Sami al-Araji as well as CEO and Chairman of Trade Bank of Iraq, Ms Hamdiyah al-Jaff. Iraq Finance 2016 was attended by distinguished experts from the International Monetary Fund, International Finance Corporation, Organisation for Economic Cooperation and Development, as well as banks and financial institutions from Iraq and from around the world.
Iraq Finance 2016 has recommended the following:
- Continues to welcome the entrance of foreign companies and international investment banks into Iraq in parallel with efforts by the Central Bank of Iraq to reform the financial and legislative environment.
- Encourages the ongoing restructuring of public banks and the development of the private banking sector through ensuring a level playing field between public and state-owned banks.
- Promotes the restructuring of the National Budget to rely less on oil revenues and increase revenues from a growing private sector economy.
- Welcomes efforts by the Central Bank to modernize the Iraqi banking system through the adoption of a modern technology infrastructure based on international standards such as the implementation of a credit information bureau and International Bank Account Number (IBAN).
- Strengthens local and international banks to provide better access to means for private investment and the growth of private business sectors.
- Welcomes the ongoing development of a full electronic payments system through partnerships with leading technology vendors
- Welcomes the transfer of State Owned Entities to profitable private enterprises, provided this is done in a sound legislative and regulatory manner.
- Advises the government to significantly ease restrictions on Foreign Direct Investment in the housing, health, and services sector in particular, to enable foreign investors to take advantage of investment opportunities in these areas.
- Suggests the government speed-up the issuance of government bonds to enable access to capital markets and the allocation of a sovereign credit rating.
- Advises immediate improvements in internal bank audit systems and the adoption of IFRS and international standards of bank compliance.
In the final panel discussion of Iraq Finance 2016, the group of presenting experts made a number of recommendations for the future development of the dialogue between the Iraqi government and the international business and financial services community in the framework of the future conferences. The Iraq Finance 2017 conference, attended by the most senior figures in the Iraq financial sector, is in a unique position to assess progress on reform of the financial and legislative environment.
The new government is committed to moving ahead with reorienting Iraq from a state-owned system to a market-led economy and creating an environment for the private sector to move forward. The 2017 conference continues to focus on the real opportunities that are emerging for foreign direct investment across such sectors as telecommunications, oil and gas, electricity and utilities, healthcare, agriculture, housing and construction, transportation, industry and manufacturing, tourism, retail and entertainment.
Substantial investment is being made in new information and communication technologies in the banking and finance sector in Iraq to facilitate the integration of the Iraqi and the global banking systems, adopting industry best practice and technological standards. The opportunities for growth for the leading technology service experts and vendors are immense, as Iraq builds the foundations of a modern banking industry on par with the best in the region. Iraq Finance 2017 is a platform to source future business contracts in the country by accessing the latest information on available opportunities directly from the decision-makers.
Benefits of attending
<ul class="list1"> <li> Understand Iraq’s financial and banking needs and the major opportunities for investment and partnership.</li> <li> Hear what reforms have been carried out since 2014 to boost project lending and kick-start consumer finance.</li> <li> Gain direct exposure to senior representatives from several government organisations including the Ministry of Finance, Central Bank of Iraq, and National Investment Commission.</li> <li> Identify projects that require immediate financing and mechanisms for developing specific risk allocations to suit circumstances on the ground in Iraq.</li> <li> Hear regional experts and C-level executives present their long and short term financing strategies for Iraq.</li> </ul>
- Get an inside view of Iraq’s financial and banking infrastructure and the major opportunities for investment and partnership.
- Hear about the ongoing reforms have been carried out since 2014 to boost project lending and kick-start consumer finance.
- Become directly or indirectly involved in the modernisation and growth of one of the most profitable emerging markets today.
- Gain direct exposure to senior representatives from several government organisations including the Ministry of Finance, Central Bank of Iraq, and National Investment Commission.
- Identify projects that require immediate financing and mechanisms for developing specific risk allocations to suit circumstances on the ground in Iraq.
- Hear regional experts and C-level executives present their long and short term financing strategies for Iraq.
- Reforms for accelerating economic growth and developing the financial system in Iraq
- Foreign direct investment in Iraq in light of the new finance and investment laws
- Sectors with strong FDI potential: power and utilities, transportation, social infrastructure
- Investment priorities and project development: opportunities for private sector participation
- Public private partnership case studies: success stories in Iraq infrastructure development
- Risk reduction and management: steps towards fair, efficient financial market
- Financial sustainability in Iraq in light of declining of the oil incomes
- Restructuring of government-owned Rafedain and Rasheed banks: prospects of work
- International perspectives on developing effective financial system in Iraq
- Improving Iraq’s financial systems through technical partnerships with international companies
- Adopting international banking technology innovations
- Status of bank security in Iraq: physical and electronic security
- Opportunities for the growth of Islamic banking in Iraq