The Iraqi-Lebanese Banking Conference was held in
Among the conference recommendations:
Overall Discussion of the Lebanese and Iraqi economic scene and the solutions for the current challenges, as well as the future opportunities. This includes the strategy and monetary policy of the
Encourage foreign companies and investors in both countries to enter the Lebanese and Iraqi markets with more vigour, in light of the efforts being made by both Central banks towards creating a legislative and banking environment inductive to this.
Develop the roles of the banking sector in both the quality and effectiveness of services offered through the provision of secure credit facilities and sound investments in both countries.
Encourage the Role of foreign investment and benefit from the available opportunities in both countries such as the development of the infrastructure, housing programs, and other priority sectors in accordance to the Investment laws applied in both countries.
Encourage Lebanese and Iraqi banks to cooperate and open branches and offices in their respective countries, as well as offer reciprocal credit lines to develop economic sectors.
Exchange banking, financial and economic experience of
Cooperation on money laundry issues and terrorism financing.
Motivate banks operating in each respective country to adhere to the governmental rules and regulations, laws and corporate governance structures.
Encourage the Iraqi Credit facilities company to develop its role to ensure the provisioning of huge credit. This will be carried out by increasing its capital within acceptable boundaries which will ensure its ability to provide such credit by a 75% ratio of its financial capacities. This will help to increase the credit to capital ratio utilised to develop economic sector.
Increase cooperation and coordination avenues between
Create a joint committee that includes the
A total of 48 local and foreign banks currently operate in
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