April 19, 2011
Modernizing Iraq’s Banking System
Today the U.S. Chamber’s Iraq Business Initiative hosted Dr. Sinan Al-Shabibi, Iraq’s central bank governor for a briefing at which he discussed Iraq’s fiscal and economic stability and progress that has been made to strengthen the country’s financial sector since 2003.
While stability in Iraq and the broader Middle East region is generally discussed in the context of politics and security, Dr. Shabibi instead underscored the important work of Iraq’s central bank to shore up stability through financial reform and modernization.
Dr. Shabibi emphasized that while it is not the role of the central bank to finance individual projects, it is committed to ensuring an environment conducive to foreign direct investment through a stable currency and competitive, market based exchange rates. He stressed the imperative of foreign investment from the private sector driving Iraq’s critical reconstruction and development.
The U.S. Chamber’s Iraq Business Initiative looks forward to working with Dr. Shabibi in the weeks, months, and years to come. We thank him for taking time out of his busy scedule to meet with us here today.
Today the U.S. Chamber’s Iraq Business Initiative hosted Dr. Sinan Al-Shabibi, Iraq’s central bank governor for a briefing at which he discussed Iraq’s fiscal and economic stability and progress that has been made to strengthen the country’s financial sector since 2003.
While stability in Iraq and the broader Middle East region is generally discussed in the context of politics and security, Dr. Shabibi instead underscored the important work of Iraq’s central bank to shore up stability through financial reform and modernization.
Dr. Shabibi emphasized that while it is not the role of the central bank to finance individual projects, it is committed to ensuring an environment conducive to foreign direct investment through a stable currency and competitive, market based exchange rates. He stressed the imperative of foreign investment from the private sector driving Iraq’s critical reconstruction and development.
The U.S. Chamber’s Iraq Business Initiative looks forward to working with Dr. Shabibi in the weeks, months, and years to come. We thank him for taking time out of his busy scedule to meet with us here today.
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