The head of the Association of Iraqi Private Banks, Wadih al-Hindal, met yesterday with Dr. Fahad bin Ibrahim al-Shathri, deputy governor of the Saudi Arabian Monetary Agency.
During the meeting held in the Iraqi Council of Ministers, the two sides discussed the issues of banking cooperation between Iraqi government and private banks and similar ones in the Kingdom of Saudi Arabia, especially in the areas of compliance requirements and credit risks.
The two sides agreed to hold a second meeting in New York on the sidelines of the Arab Banks Union conference on October 16 to continue to discuss the prospects of banking cooperation between the two brotherly countries.
Dr. Al-Shathri expressed the Kingdom’s desire to strengthen and develop banking cooperation with Iraq in the framework of broader cooperation in various economic, financial and trade fields.
He also expressed a similar desire, stressing that banking cooperation between the two countries will open wide horizons for traders and investors in both countries.
Dr. Al-Shathri is one of the members of the high delegation accompanying Saudi Minister of Commerce Dr. Majid bin Abdullah Al-Qasabi, who arrived in Baghdad last night for an official visit to Iraq.
He met the Saudi delegation immediately upon his arrival with Prime Minister Haider al-Abbadi and met later with
Iraqi delegation included the ministers of planning, agriculture and electricity and the Chairman of the Investment Authority in the presence of a number of Iraqi businessmen and economists.
The two sides discussed issues of cooperation in various fields within the framework of the Iraqi-Saudi Coordination Council, which was announced recently.