Iraqi PM Al-Sudani oversees Iraq-UAE financial cooperation MoU

Shafaq News/ On Monday, Iraqi Prime Minister Mohammed Shia al-Sudani met with Abdullah Salem Al-Nuaimi, CEO of Abu Dhabi Securities Exchange (ADX), to discuss avenues for cooperation in sharing expertise and enhancing private sector activities to foster economic growth.

According to a statement from al-Sudani's media office, the PM oversaw the signing ceremony of a Memorandum of Understanding (MoU) between the Iraq Securities Commission and the ADX. The agreement was signed by Faisal Wissam Al-Haimus, head of the Commission, on the Iraqi side, and Al-Nuaimi on the Emirati side.

“This partnership reflects the Iraqi government’s commitment to advancing regional and international cooperation in financial and securities markets. It underscores Iraq’s focus on strengthening its financial sector, attracting foreign investments, and promoting economic integration with regional markets, particularly the UAE,” it explained.

Al-Sudani highlighted the importance of this agreement in strengthening Iraq’s financial market, utilizing advanced technologies, and adopting global best practices to drive sustainable economic growth, reiterating “the government’s dedication to supporting initiatives that encourage foreign investments and bolster the private sector’s role in Iraq’s economic development.”

The MoU is reportedly expected to lay the foundation for further cooperation between Iraq and the UAE in financial services, offering a “robust framework” for mutual investments and knowledge exchange.