Wadee Al-Handel, Chairman of the Iraqi Private Banks League(IPBL), has announced, during his participation in the Union of Arab Banks Conference currently being held in Cairo under the theme “Public-Private Partnership,” that the capital Baghdad will host the next Union of Arab Banks Conference, under the patronage of Prime Minister Mohammed Shia Al-Sudani and in collaboration with the Central Bank of Iraq and the Iraqi Private Banks League.

In his remarks, Al-Handel emphasized that the current Iraqi government has taken serious steps to strengthen public-private partnerships, beginning with the establishment of the Private Sector Council, which has positively impacted the banking sector’s expansion, particularly through the broader adoption of electronic payment systems and government institutions contracting with banks and companies to develop financial infrastructure.

Al-Handel highlighted that electronic payments via bank cards in Iraq reached over 21.1 trillion dinars in 2024 through more than 58.4 million transactions, up from just over 7,000 in 2017. He considered the growth as a massive qualitative shift.

Al-Handel further stated that Arab and foreign investments entering Iraq over the past two years have totaled approximately $63 billion, driven by the growing public-private partnership. He added that the “Development Road” project represents a strategic opportunity to boost Iraq’s GDP through broad cross-sectoral participation.