On 21 July, UBAF, represented by the Chief Executive Officer the Head of the Arab World and Turkey Unit, met with Mustafa Ghalib Mukheef, Governor of the Central Bank of Iraq (CBI), his team and a delegation of chairmen and managing directors representing some 20 local banks at the Iraqi Embassy in Paris.
During the event, Mustafa Ghalib Mukheef highlighted the improved economic climate in the country and presented the current political and security situation. In particular, he detailed the CIB's support for the local economy through the increase in foreign currency reserves.
Then, the Iraqi delegation reported on the continuous efforts, measures and reforms implemented to meet the international regulations on anti-corruption, anti-money laundering and combating the financing of terrorism.
Finally, Mustafa Ghalib Mukheef and Jean-Claude Gelhaar recalled that UBAF has been a historical partner of the Iraqi banking sector for some 50 years. The constant support between local Iraqi commercial banks and UBAF, including during the country's troubled times, has resulted in a strong partnership.
The representatives of the Iraqi banks expressed their wish to continue and expand this historic cooperation with the UBAF.