IBBC hosted over 250 members, businesses and government officials for its 13th Mansion House conference on 2–3 June. IBBC President Baroness Nicholson welcomed the delegates, in particular the Ministers and official government guests from Iraq, led by Deputy Prime Minister and Minister of Oil H.E. Hayan Abdul Ghani Al Sawad, and H.E. Mohammed Al Darraji, the Prime Minister’s representative.

From the UK side, Mr Tim Reid, CEO of UK Export Finance, and Sir Nicholas Lyons, the Lord Mayor’s representative, attended. Lord Howell delivered an insightful speech on global challenges, democracy, and future strategy, while Lord Green spoke at the reception the previous evening. Mr Mohammed Al Asaadi of Hammurabi Law and IBBC Member Representative in Iraq spoke of his pride in representing IBBC members in Iraq, and he played an important role in setting up the conference with the Iraqi Prime Minister, whom he met prior to the conference (read more here), and Mr Sardar Bebany, Chairman of Sardar Group and IBBC Executive Committee Member, also addressed the gathering. Christophe Michels, Managing Director of IBBC, chaired the conference.

We are grateful to our sponsors: Sardar Group, EMAAL, Hogan Lovells, Trade Bank of Iraq, Al Zaman Group, Al Rida Investments, and 1001 Media and travel partner – London Sky.

Throughout the day, panels addressed a broad range of topics including geopolitics, finance, investment, banking reform, energy, growth and diversification, and heritage. Roundtables were held on education, the women’s group, finance, and the tech forum.

The special Rasmi Al Jabri Award was presented to Ismail Shakir, founder of Al Busttan, a close friend of Rasmi and a founding figure of IBBC in Iraq. The award recognises exemplary Anglo-Iraqi collaboration and business growth.

Christophe Michels closed the conference by thanking delegates and announcing the next IBBC conference will take place in Basra on 4 December.

Conference Themes

The conference panels addressed key issues and opportunities, with an overall tone that was optimistic and forward-looking, reflecting Iraq’s growing political and economic stability, and a renewed sense of prosperity and diplomatic engagement.

H.E. Minister Al Sawad outlined significant progress: from gas capture and electricity generation to fertiliser and chemical production. He noted contracts with BP for integrated production in Kirkuk, and with Total for energy and water systems in Basra. A carbon reduction company is being established to monitor emissions. There is also a focus on replacing sweet water with desalinated water in Basra, and boosting local production to reduce imports.

H.E. Mr Al Darraji reaffirmed Iraq’s balanced regional role, commitment to stability, democratic governance, reduction of armed non-state actors, and a stable exchange rate. The Government is pushing to diversify the economy beyond energy, launching carbon bonds, and attracting FDI with sovereign guarantees. Iraq’s economy is healthy, with a GDP-to-debt ratio of just 10%, improved laws for foreign investors, and new contracts, such as a £1.1bn sewage deal with the UK. The diaspora in the UK is encouraged to invest in Iraq.

Tim Reid, CEO of UKEF, highlighted the UK’s support, with £8bn available in 2024 from a total budget of £80bn. He underlined UKEF’s role in enabling certainty for UK companies and their partners. Projects in Iraq include stormwater and sanitation for 20,000 people, and £100m invested in British fire trucks to improve urban safety.

Ms Zara Murad Griffiss shared her ambition to represent Iraq in dressage at the 2028 Los Angeles Olympics. To qualify, she needs to raise £1m. IBBC is proud to support one of the few Iraqi women aiming to compete at this level.

Mr Bebany of Sardar Group explained that their operations are anchored around Toyota and JLR, employing over 4,000 staff, and emphasised the company’s investment in staff development.

Mr Mohammed Al Asaadi of Sama Hammurabi Law expressed honour in representing IBBC members, pledging continued legal and institutional support for business.

Lord Howell, drawing on his recent book The Edge of Anarchy, delivered a powerful analysis of geopolitical risks, urging renewed national resilience and civic preparedness. He called for strategic reinvention, greater public engagement, financial literacy, and a strengthened parliamentary system—suggesting compulsory voting and proposing Iraq join the Commonwealth.

Geopolitics Panel

Chaired by Jon Wilks, the panel included Dr Lina Khatib (Harvard), who noted Iraq’s positive regional engagement and a shift towards Arab-led leadership. Prof Gareth Stansfield (Exeter University) and David Hunt (FCDO) added depth on regional dynamics and Iraq’s evolving role.

Energy Panel

Zaid Elyaseri (BP Iraq) spoke of increased investment in Kirkuk and Rumaila, integrating oil, gas, and water for more sustainable operations, with 94% local staffing. Dunia Chalabi (Total) described Total’s integrated Basra system using solar power, desalinated water, and gas capture. Sultan Al Maliki (BGC) detailed LPG exports, local energy generation, and community support via the AMAR Foundation. Sara Akbar (Oilserve) argued for closer Iraq–Kuwait cooperation and pointed to regulatory hurdles for domestic companies.

Dr Luay Al Khatteeb, chairing the session, noted that subsidies distort energy usage and that crypto mining is adding pressure to electricity demand.

Diversification and Growth

Prof Frank Gunter noted that while oil accounts for 90% of revenue, it provides only 2% of jobs. With youth underemployment at 80%, the private sector, improved banking, and credit access are critical. Steve Alexander (Sardar) called for simplified procurement, better credit access, and talent development. Mohsen Khairaldin Garcia (1001) highlighted IP theft as a barrier to Iraq’s creative economy. Abir Burhan (Al Burhan) discussed the growing need for high-quality housing. Dr Ali Altaiee (Iraq 24 / EMAAL) announced Iraq’s first business summit and called for SME support and legal harmonisation across ministries.

Banking and Finance

Chaired by Ardil Salem (Hogan Lovells), the banking reform panel included Ezzeldin Yousef (Central Bank), Dr Salahuddin Al Hadeethi (Ministry of Finance), and Dr Salih Salman (PM’s advisor). Mr Salem also chaired the financing panel with contributions from Ali Al Awad (Al Rida Investments), Raed Hanna (Mutal Finance), Joseph Chakra (UKEF), Bilal Al Sugheyer (IFC), and Taiseer Mohammed (Trade Bank of Iraq).

Education and Heritage

The Education roundtable drew strong interest. Chaired by Prof Dr Kossay Al Ahmady, the Iraqi cultural attaché, and Prof Mohammed Al Uzri, the session covered scholarships and training, with contributions from Oxford (Somerville College, Life Sciences, Islamic Centre), Newcastle, Liverpool, Exeter and others.

The Women’s Group, led by Ghadeer Haider, discussed women’s leadership in business.

At the IBBC Spring Conference 2025, the Women’s Roundtable, chaired by Ghadeer Haider, explored the theme “Women Driving Growth: Diversification Across Sectors.” Participants included Jon Wilks, former British Ambassador to Iraq, former MP Maysoon Al-Damluji, Dr. Claire Cockcroft from the University of Oxford, and other distinguished guests.

The discussion focused on key enablers such as education, mentorship, awareness, and networking, which are helping women contribute across sectors including energy, law, healthcare, and education.

Speakers highlighted the importance of the IBBC network in creating connections, raising visibility, and supporting women to take on greater leadership roles in Iraq’s economic development.

The Tech Forum

The Tech forum discussed leading edge provision around the experience economy, with James Wallender of WXO ( World experience organisation) whose members are working with London to create the best people’s experience as part of the city’s offer. As Iraq evolves beyond essential infrastructure requirements, it will be presented with options for tourism and consumer lifestyle experiences, and the opportunity to create more compelling destinations and experiences for its people. Equally, as AI and tech platforms are evolving to disrupt sectors like education, investment and pharmaceutical markets, Iraq has the option to leapfrog legacy systems and engage in leading edge provision of services , such as were shared by 1001, our sponsor and Iraq’s leading legal streaming platform. William Page of 1001 says, not only has 1001 increased subscription by 900k since our last meet in Dubai , but also included an education and skills offer through Udemy, for self-learning business skills for its workers and subscribers. These third-party platforms are rapidly outstripping legacy educational systems in Iraq an internationally and present a serious low-cost mechanism to train people that Governments are struggling to achieve. 1001 are also on a mission to develop Iraq’s creative sector- music, film, art and more, and ensure that creators are rightly remunerated by the platforms, rather than having piracy ISP sites rip them off. 1001 believe the creative industries can not only become a multimillion sector in Iraq but also a means of soft power and identity for the emerging Iraq. View below this interesting discussion

The Heritage Panel, chaired by Prof Al Uzri, heard from Dr William Deadman (Durham), Richard Wilding (RGS), Dr Mary Shepperson (BISI), and Dr Rosalind Haddon and Maysoon Al Damluji, on urgent efforts to document and protect Iraq’s historic structures. A campaign to raise awareness among Iraqis of their heritage was proposed.

Christophe Michels closed the event by thanking all sponsors and staff and confirmed that the next IBBC conference will be held in Basra on 4 December.

Please see IBBC Spring Conference 2025 booklet here.