IBBC team brought over 40 Iraqi SMEs to a bespoke conference in London’s Clayton hotel in Chiswick, presenting how to ‘Trade with and Invest in the UK ‘,

The IBBC Baghdad team arranged for several high-profile speakers covering all aspects of the investment and trading process in UK including access to loans in Iraq, how to set up entrepreneur’s visas and investment in the UK, along with information on scaling their businesses internationally, and how to collaborate with UK companies across both jurisdictions.

Mr Ali Mashkour ( IBBC Baghdad office) welcomed the delegates, and Mr Christophe Michels (IBBC MD) welcomed the audience and said that IBBC ‘s purpose is to support the private sector and that delegates would do well to use their visas extensively. Mr Atheer Alsaedy of the Iraqi embassy recognised the role IBBC plays in support of Iraq’s private sector, finally Mr Maytham Khedheyer, IBBCs advisor to SME’s spoke of the opportunities.

Mr Richard Jones of EBRD says the Bank is opening in Iraq in September and will focus on SME’s (75%) Corporates and Government loans. There is no upper limit to the investment available, an depends on the projects and opportunities in Iraq and tha the EBRD sees this as a partnership with businesses. The Bank not only provides loans but also advisory services to businesses, and wholesales loans often through trusted partners like banks, although they will also provide funds directly, to both start ups and established companies. Finally, there is a grant budget which can mitigate the effects of some interest rates for qualifying companies. Typical sectors for attention include Sustainable and renewable energy and agriculture, digital transformation, AI, IOT and industry diversifying and modernising the economy from oil and gas, but EBRD are in general ‘omnivorous’ lenders.

Mr Zafar Iqbal of Grey Stone solicitors spoke about accessing investor/ founder visas as a good route to establishing businesses and access to the UK market, and Mr Chandila Fernando of Innovate UK explained the free support for businesses in tech, life sciences, renewable energy and AI, IP protection in the UK that enables scale ups and internationalisation of business for recipients ( of which UKI have 18,500) . This is a unique service from the UK that is open to all who have domiciled a business here.

Mr Khalid Mahdi from Accentia consulting covered the area of franchises and partnerships with UK brands and retailers.

Finally, IBBC member Mr Ali Al Qawazi of Al Zaman Group, explained the way they work in partnership with UK suppliers and expertise to deliver maritime shipping and service industry in Iraq.

Mr Michels, says ‘it’s heartening to see the quality and professionalism of the Iraqi SME’s developing rapidly and positively. Many are significant businesses that are looking to expand and work alongside UK expertise to scale up in Iraq and internationally. IBBC is increasing our effort to encourage more to visit UK exhibitions and franchise shows, whilst also supporting their business networks, access to investment and acumen. ‘