By leveraging foreign expertise, the Association of Banks intends to enhance the capabilities of banking sector employees

 By leveraging foreign expertise, the Association of Banks intends to enhance the capabilities of banking sector employees.

Economy | 02:42 - 06/06/2025  Mawazine News - Baghdad – The Iraqi Private Banks Association announced on Friday the completion of training for banking sector cadres by the end of the year, utilizing foreign expertise. It also confirmed the continuation of the search for strategic partnerships with foreign banks.

Chairman of the Iraqi Private Banks Association, Wadih Al-Handhal, said in a press statement that "many issues were discussed during the recently held Anti-Money Laundering and Combating the Financing of Terrorism conference, most notably the challenges facing Arab banks in complying with international laws and regulations and ways to meet the requirements of correspondent banks."

He added that "the conference discussed with experts, researchers, writers, and officials from Arab and foreign banks to develop a mechanism for cooperation to simplify procedures for Iraqi banks to deal with correspondent banks and how to consolidate the concept of technology and artificial intelligence in the use of banking operations as part of our work. Most importantly, it is necessary to search for strategic partnerships with foreign banks."

The head of the Iraqi Private Banks Association continued, "Work is underway and the world is advancing at the speed of light. Many Iraqi banks are working to keep up, but it's not easy, because some of the human cadres in the banking sector need training and courses."

 He emphasized that "the Association of Banks, in cooperation with the Central Bank, has launched ongoing courses for banking cadres, but they will require some time, at least until the end of next year. However, work is underway, and we are seeking foreign expertise from outside Iraq and are continuing to adapt to it."  https://www.mawazin.net/Details.aspx?jimare=262219