Wadee Al-Handel, Chairman of the Iraqi Private Banks League, met with Mohammed Sahib Al-Daraji, the Prime Minister’s Advisor, in the presence of representatives from Cihan Bank, Region Trade Bank of Iraq, and the Iraqi Company for Financing SMEs.

The meeting addressed challenges facing Iraq's banking sector and government and Central Bank efforts to reintegrate banks restricted from using the U.S. dollar. Discussions also covered the "Hisabi" salary localization initiative in the Kurdistan Region.

Advisor Al-Daraji emphasized the importance of diversifying banking services and easing government and non-governmental restrictions on private banks in the investment sector. He stressed the need to launch private sector loans for strategic projects backed by government guarantees and highlighted the banking sector’s role in helping establish a system allowing state institutions to distribute salaries through multiple banks.

He pointed to the significance of supporting Iraqi banks in opening correspondent banks, especially as the planned discontinuation of the dollar platform next year could substantially impact their operations.

Wadee Al-Handel highlighted the "Hisabi" project’s role in increasing financial inclusion in the Kurdistan Region. He noted the considerable challenges facing the banking sector and urged collaborative efforts to turn these challenges into opportunities, calling the government to implement solutions that facilitate the return of banks to dollar transactions.