National Workshop on Financial Inclusion: Iraqi Private Bank League
In collaboration with the Banking & Finance Department, Faculty of Administrative Sciences and Economics, Tishk International University, the Accounting Department organised a National Workshop on Financial Inclusion: Iraqi Private Bank League held on March 27th, 2022. The Central Bank of Iraq and more than 15 commercial banks participated in the national workshop.
The workshop was embellished by the Board of Trustees, Prof. Idrees Hadi, Mr Kadhim Namiq, General Manager, Central Bank of Iraq, Mr Sherwan Anwar, General Manager of Iraqi Private Bank League, Mr Amjad Ramazaan, Chartered Accountant & Deputy Managing Director, Kurdistan International Bank, Dr Ghazi Mamand, General Manager, RT Bank, Mr Ahmed Khaleel, Branch Manager, First Iraqi Digital Bank, and other representatives of various Commercial Banks. Karwan Sherwani, Dean of Faculty, Faculty of Administrative Sciences and Economics, Tishk International University, Dr Waqar Ahmad, Head of Accounting, Banking & Finance, Department, Faculty of Administrative Sciences and Economics, Tishk International University.
The National Workshop commenced at 10:00 AM with the National Anthem followed by a welcome speech by Dr Waqar Ahmad, Head of Accounting, Banking & Finance, Department, Faculty of Administrative Sciences and Economics, Tishk International University.
During the opening ceremony Mr Kadhim Namiq, General Manager, Central Bank of Iraq, delivered his speech and spoke about the policies and procedures of the central bank. He also spoke about the usage of offers and services offered to the citizens of the country and abroad so that the citizens can use the banking services on high priority. Mr Namiq explained how in 2019, the central bank started to create a new framework and transferred the usage of money to another system that started in 2020 and will continue till 2023 to establish the new banking model. He mentioned during his speech that the central bank is very focused and dedicated to the banking policies for economic development. The central bank focuses on how consumers can rely on the banking sector.
Mr Sherwan Anwar, General Manager of the Iraqi Private Banks League, addressed the session and explained the importance of the Iraqi private banks league. He stated the activities IPBL is implementing to stabilise the Iraqi banking market. Mr Sherwan mentioned about roles of banks in the development of financial sectors. During his speech, he stated the importance and role of Financial Inclusion in the economic development of the economy.
Dr Ghazi, Mamand, General Manager, RT Bank, addressed the Financial Inclusion Day that banks should be focused and work together to make the banking sector healthier in the Iraqi market. He mentioned that financial inclusion is not an easily achievable one-day project. Due to this, he focused on the reality of the current banking situation. Dr Ghazi Mamand explained that the central bank policy should be effective primarily related to the documentation required and altered towards the banks’ goodwill.
Mr Amjad Ramazaan, Chartered Accountant & Deputy Managing Director, Kurdistan International Bank, addressed the importance of financial inclusion in the real world and how there must be an improvement in the bank systems and develop the relationship between banks and people.
The national workshop hosted the two speakers’ representatives, Mr Hamza from the Central Bank of Iraq and Mr Raid from Cihan Bank, respectively, to discuss the issues and obstacles that the banking sector is facing during its operations. They also talked about KYC’s policies. Then the audience asked the questions to speakers for more clarification and updates.
The National Workshop was adjourned by Ms Padasht Abdulqadir, moderator and asked the guests to visit the bank fair and avail of the services, including free account opening without balance, visa card, master card, loans services, gifts, competitions and other banking services.
The banks that participated in the national workshop are listed below:
- RT Bank
- First Iraqi Bank
- Kurdistan International Bank
- National Bank of Iraq
- Trade Bank of Iraq
- Abir Al Iraq Bank
- Cihan Bank
- Bank of Baghdad
- Western Union
- Erbil Bank of Investment
- Credit Bank of Iraq
- Zain Iraq Islamic Bank
- Economy Bank of Iraq
- Iraqi Middle East Investment Bank
The workshop organisers appreciated the team members who worked hard to make this workshop successful.
The team members are listed as follows:
- Kadhim Saeed,
- Sallar Ashqi
- Heba Srud
- Gran Seerwan and
- Teba Alani