Al-Sudani Directs Financial Institutions to Cooperate with Arab and Foreign Investors to Support Iraq’s Economy

Peregraf- Iraqi Prime Minister Mohammed Shia Al-Sudani attended today, Sunday, the inauguration ceremony of the Arab–Iraq Bank, which is jointly funded by Iraqi, Arab, and foreign investors, according to the Iraqi Prime Minister’s Media Office.

In his remarks, Al-Sudani said that the establishment of the bank, with the participation of prominent Arab and international investors, is clear evidence of growing confidence in Iraq’s economy, the progress achieved in recent years, and the attractiveness of the country’s investment environment.

He explained that the presence of the Arab–Iraq Bank represents a strategic addition to Iraq’s national banking sector and serves as a model for the modern and dynamic financial institutions the government seeks to promote—institutions capable of providing advanced services that contribute to financing sustainable development.

The Prime Minister emphasized the need to activate financing for various projects and investment opportunities, supported by a capable Iraqi private sector that understands the investment landscape and works to enhance confidence in Iraq’s economy.

Al-Sudani also highlighted the importance of fostering cooperation between the Arab–Iraq Bank, national banking institutions, government entities, the private sector, and Arab and foreign investors to leverage financial capabilities and banking expertise in support of government programs and development projects.

He stressed that the government has prioritized economic reform and the transition from a single-resource, rentier economy to a diversified and sustainable one that harnesses Iraq’s vast natural resources.

The Iraqi Prime Minister pointed out that Iraq’s advantages must be realized through comprehensive reform of the financial and banking system, which has remained disconnected from global financial networks for four decades. He noted that both the government and the Central Bank have borne significant social and political costs to advance this reform process.

Al-Sudani stated that Iraq has achieved a high level of credibility and trust in its relations with international financial institutions. He added that the establishment of the Arab–Iraq Bank is particularly important at this stage, as Iraq is witnessing genuine development and expanding investment opportunities across multiple sectors.

He further mentioned that hardly a week or month passes without a decision from the Economic Affairs Council or the Council of Ministers introducing new reforms, procedures, or legislation to improve the investment and financial climate.

The Prime Minister underlined the need for a comprehensive system of advanced banking services that extends to individuals and businesses, including modern digital banking that provides customers with a seamless and secure experience tailored to their evolving needs.

Al-Sudani concluded by directing all public and private financial and banking institutions to cooperate with Arab and foreign investors in ways that serve Iraq’s national interests and contribute to building a strong, diversified, and sustainable economy.