The Bahrain Association of Banks (BAB) has signed with Iraq Private Banks League (IPBL) a memorandum of understanding aimed at achieving mutual cooperation.

 

The MoU was signed by the Chairman of the Bahrain Association of Banks, Adnan Ahmed Yousif, and Wadih Nouri Al-Handal, Chairman of Iraq Private Banks League (IPBL), during a remote meeting.

 

This MoU stems from the keenness of the Bahrain Association of Banks and Iraq Private Banks League, to defend the interests of banks and financial institutions and highlighting their role in sustainable development programmes through close cooperation with regulatory authorities and all partners and stakeholders.

 

The two parties agreed to form a joint committee to consult and agree on implementing and following-up joint plans and programmes.

 

On this occasion, Yousif said: "Bahrain has had a rich and diversified banking experience over the past five decades, which has greatly been enhanced by its response to the repercussions of the Covid-19 pandemic. We are working in the Association to employ this rich experience in supporting and strengthening cooperation with Arab banks, at the forefront of which is the Iraq Private Banks League (IPBL), and Iraqi banks, with which we have strong brotherly relations. We aim to boost such relations and cooperation during the next stage.” 

 

On the other hand, Al-Handal said: "Iraq Private Banks League (IPBL) has a long history in developing the banking sector, at various technical, administrative, advisory, human resources and other levels. This MoU will contribute to opening new horizons with the Bahraini banking sector, and boost joint work between Iraqi and Bahraini banks, transfer experiences, in addition to holding training courses at a high level "  

 

The two parties will work through this MoU to exchange experiences, studies, and relevant research, depending on the resources available to them, and will also cooperate in providing consultations, conducting joint research and studies, and organising and implementing conferences, workshops, seminars, and events in various common fields. -- TradeArabia News Service