BBAC offered its sponsorship to the Iraqi-Lebanese Banking Conference, which was held in Beirut on the 25th and 26th of April 2014, to show its support for this significant event.

The conference was organized by Al-Iktissad Wal-Aamal Group, under the patronage of the Central Bank of Lebanon and the Central Bank of Iraq. Participating organizations included the Iraqi Private Banks League, the Iraqi National Investment Commission, the Lebanese and Iraqi banking sector, Association of Banks of Lebanon and Iraq, banking and financial experts.

The Iraqi-Lebanese Banking Conference was the first of its kind in the region, and offered a unique platform for an in-depth discussion on the best ways to strengthen ties and bolster cooperation between Lebanese and Iraqi banks. It likewise shed light upon the challenges being faced by banks to increase their presence in Iraq, and explored the various ways in which the banking sector’s contribution to Iraq’s economic growth can be enhanced.

In a speech and subsequent question-and-answer session, Mr. Chawki Badr, BBAC’s AGM-International Expansion, spoke on issues ranging from BBAC’s experience in the Iraqi market with its two branches in  Erbil and Baghdad to the challenges that banks are facing in Iraq due to the absence of a comprehensive regulatory framework.

BBAC’s entry into the Iraqi market in 2008 has proved to be a success, and has produced tangible results. BBAC is considered to be one of the first banks to have made a significant entrance into the banking and economic playing field in Iraq, through funding investment projects in a range of economic areas, such as infrastructural, residential, industrial and commercial projects. This is alongside the collection of traditional banking services that it offers.  Within a short period of time, BBAC has managed to achieve impressive growth on all levels, placing it among the top Lebanese banks in Iraq in terms of business volume and profit. 

BBAC believes in the importance of such conferences as an excellent way to bring together analysis of the banking sector in both Iraq and Lebanon, along with discussion of future prospects for the industry and its upcoming development.