The National Bank of Iraq (NBI) has signed a strategic partnership agreement with a European Bank valued at USD 100 million, marking a significant step toward strengthening international financial cooperation.

The signing ceremony was held in the presence of H.E. Dr. Ammar Al-Eithawi, Deputy Governor of the Central Bank of Iraq, as well as the Chairman of National Bank of Iraq, the agreement was formally signed by Mr. Ayman Abu Dhaim, CEO of NBI, and Ms. Catarina Bjorlin Hansen, Head of EBRD in Iraq.

The event was attended with representation from the Iraq Britain Business Council (IBBC), in addition to Sama Hammurabi Law Firm, the legal counsel to NBI. Several prominent banking figures and representatives of the Association of Iraqi Private Banks were also present.

This partnership reflects increasing confidence in the Iraqi banking sector and aims to enhance financing capabilities, support economic growth, and deepen cooperation between Iraqi and European financial institutions.

Dima Ghaith, Foreign Companies Manager NBI ‘ says ‘ This agreement marks an important milestone for NBI. It is the first of its nature in Iraq. The 100 million USD trade facility will enhance trade finance activities for NBI corporate and SME clients’

Christophe Michels MD of IBBC says ‘IBBC is delighted that our member NBI have concluded this important arrangement with EBRD. Both Organisations are well known to IBBC, and we have lobbied to encourage EBRD to enter Iraq. Here is the proof of confidence in the Iraq economy, its financial system and the clear opportunity for European investment across Iraq.’