Prime Minister Barzani Hosts Banking Leaders to Discuss Economic Advancements

On 17 March 2024, Masrour Barzani, Prime Minister of the Kurdistan Regional Government (KRG), held a meeting with a delegation from the banking sector, including Jordan Kuwait Bank and the Board of Directors from the Bank of Baghdad including Abdul Karim al-Kabariti, a former Jordanian Prime Minister. The delegation was led by Majid Al-Sadi, the Bank of Baghdad’s Chairman.

The meeting focused on potential collaborations and projects to enhance the banking infrastructure and spur economic growth within Iraq and the Kurdistan Region.

Prime Minister Barzani highlighted the KRG’s efforts in banking reforms, emphasising digitalisation, electronic payment systems, and the innovative “My Account” project. He discussed ongoing collaborations with Iraq’s central authorities, including Prime Minister Mohammed Shia’ Al Sudani and Ali Al Allaq, the Central Bank of Iraq’s Governor, aiming to align these initiatives with national guidelines and current economic conditions.

The visiting delegation praised the progress of the “My Account” initiative and Prime Minister Barzani’s broader vision for economic diversification and banking improvements. Both parties recognised the critical role of banking reform in the KRG’s development agenda.

The Bank of Baghdad, a pioneer in Iraq’s commercial banking sector, was established in 1992, and the Jordan Kuwait Bank, a key player in Jordan’s financial landscape, was established in 1976.