CBI, IFC consider New Leasing Company for Iraqi Start-Ups
Central Bank of Iraq (CBI) Governor Ali Mohsen Al-Alaq has met Bilal Al-Saghir, the International Finance Corporation's (IFC) Resident Representative in Iraq, to discuss strengthening bilateral relations, particularly in training Iraq's banking sector workforce. The parties intend to sign a Memorandum of Understanding on the matter in the coming period.
They also discussed a proposal to establish a leasing finance company with both local and foreign participation, aimed at supporting startups and small- to medium-sized enterprises by offering flexible financing for assets such as industrial equipment, vehicles, offices, and warehouses.
The meeting further addressed the CBI's ongoing banking reform plan, implemented with assistance from Oliver Wyman and in line with international standards, to enhance the sector's global standing and restore several Iraqi banks' ability to engage in international transactions.
(Source: CBI)
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