The Association of Iraqi Banks announced on Thursday, the signing of a memorandum of understanding with the Federation of Egyptian banks to develop banking relations between the two countries.
The MoU was signed by the president of the association, Wadih Al-Handal in the presence of the Governor of the Central Bank, Mostafa Ghaleb, and his Egyptian counterpart, Tariq Amer.
“We are pleased with the close cooperation with the Federation of Egyptian Banks, which includes in its membership all banks operating in Egypt,” Al-Handal said. “The Iraqi banking sector is making great strides towards leadership, thanks to the policy of The Central Bank, which now requires openness to all banks in Arab and foreign countries”.
Al-Handal pointed out that the memorandum of understanding will also focus on establishing joint training programs that include qualifying banking cadres in the two countries, as well as establishing partnerships between Iraqi and Egyptian banks.