IBBC MD Christophe Michels visited Baghdad and Basrah from 18 to 23 March, to meet with IBBC Members and representatives of the Iraqi Government.

In Baghdad meetings were held with the Governor of the Central Bank, the Chairman of PMAC, the Chairman of TBI and the Secretary General of the Private Banking League. IBBC Member Representative in Iraq Mr Haider Al Shamaa joined the meeting with the Governor of CBI to discuss the Governor’s participation in the IBBC Spring Conference at The Mansion House on 16 June.

In Basrah, meetings were held with Basrah Gas Company and Basrah Chamber of Commerce. Topics discussed included the IBBC Basrah Day in Kuwait on 22 May and further collaboration between IBBC and Basrah Gas Company.

The visit coincided with the 20^th anniversary of coalition troupes invading Iraq in 2023. Christophe Michels commented ‘There have been no tensions whatsoever during our visit despite the 20^th anniversary of the Invasion. The country is safe, local businesses are striving, cafes and restaurants are full of people and new housing & commercial developments, hospitals and universities  open every week across the country. Of course the overall business environment, particularly for foreign firms, has hardly improved, much needs to be done to cut down on bureaucracy and corruption and preserve the sanctity of contracts; but overall Iraq has come a long way, I have not seen it in such a good place at any given time since I first visited in 2007’.