12 September 2025 – IBBC President, Baroness Nicholson, accompanied by Managing Director, Christophe Michels, and IBBC Member Representative in Iraq, Mr Mohammed Al Saadi, met with the Governor of the Central Bank of Iraq, His Excellency Dr Ali Mohsen Al-Alaq. Dr Al-Alaq and his team were in London for a series of meetings with the Bank of England.

Baroness Nicholson opened the meeting by noting the importance the IBBC places on its relationship with the Central Bank. The Governor expressed his appreciation and emphasised the value he places on the longstanding cooperation between the two organisations.

During the meeting, the IBBC conveyed questions submitted by members concerning their business operations. The Governor welcomed the discussion and provided detailed responses, which will assist members in addressing challenges and planning their activities.

Mr Mohammed Al Saadi raised further issues on behalf of members, focusing on the difficulties they face in Iraq. The Governor clarified the ways in which the Central Bank can help address these matters, supporting efforts to improve the business environment.

Members regard such meetings, facilitated by the IBBC, as highly valuable, as the responses and guidance received can have a direct impact on company strategies.

IBBC Managing Director Christophe Michels commented: “The IBBC and the Central Bank of Iraq have enjoyed a collaborative relationship for 16 years. We are now working to formalise this through a partnership agreement, which we hope to conclude soon.”