The Iraqi Private Banks League has renewed its joint cooperation agreement with the Frankfurt School of Finance and Management through a memorandum of understanding (MoU) that reflects both sides’ commitment to strengthening professional integration between the Iraqi and German banking sectors and advancing institutional development in line with international best practices and standards.

The agreement was signed on behalf of the League by Deputy Executive Director Ahmed al-Hashemi, and on behalf of the Frankfurt School by Eugen Doce, Senior Director International Advisory Services.

The renewed agreement expands cooperation into areas with direct impact on banking performance, governance, financial innovation, training, consultancy, strategy development, institutional capacity building, technical expertise exchange, digital transformation, compliance, and risk management, enhancing the readiness and competitiveness of Iraqi banks.

Both sides affirmed that the next phase will see a more active institutional and professional role as a bridge between the Iraqi and German banking sectors through the establishment of direct communication channels, joint dialogue and cooperation platforms, and facilitated knowledge exchange between financial institutions in both countries.

They stressed that the partnership will support the Iraqi banking sector’s access to German institutions and markets and stimulate German banks’ and companies’ interest and investment in Iraq by fostering a supportive professional environment, deepening understanding of regulatory frameworks and investment opportunities, and strengthening mutual trust to pave the way for sustainable financial and economic partnerships.

The move aligns with the Central Bank of Iraq’s banking reform to enhance institutional and digital efficiency, further integrating Iraq’s financial sector into the international financial system and broadening prospects for economic integration between Iraq and Germany.