StanChart sponsors Iraq banking summit

Standard Chartered has announced its sponsorship of the second international exhibition and conference on banking and finance in Iraq.

Standard Chartered will be the lead sponsor of Iraq Finance 2014 taking place in Dubai on January 27 and 28.

Under the patronage of the Central Bank of Iraq, the conference will bring together leading Iraqi Government and Iraqi Central Bank officials, including the Minister of Finance and Central Bank Governor, senior international bankers and finance executives to discuss the significant opportunities in the country.

Gavin Wishart, chief executive officer, Standard Chartered in Iraq said: “We are excited to play a leading role in supporting our multinational clients who are actively investing in the country. We believe this will have a positive impact on Iraq’s economic development and the deepening of its financial infrastructure.

“The 2014 Iraq Finance conference is an ideal event that will bring together leading local and international experts to debate the challenges and potential opportunities in a world class forum. As lead sponsors Standard Charted Bank is delighted to support this event.”

At the conference, Standard Chartered will be participating by sharing its international expertise, notably in financing of infrastructure projects in the energy, construction and telecoms sectors.

In November 2013, Standard Chartered inaugurated its headquarters in Iraq and first branch in Baghdad becoming the first international bank to have on-the-ground presence in the country.

The bank aims to open a branch in Erbil during the first Quarter of 2014 and another in Basra during 2014. The bank will provide transaction banking, project and export finance, structured trade finance, financial markets services, capital markets and corporate finance solutions in the country to its existing multinational clients operating in the country.

Iraq Finance is designed to act as a marketplace for delegates, attracting and aligning the sponsors of local projects in Iraq with international investors. It will additionally provide a forum for discussion around three major focus areas arising from the rapid economic growth and development in Iraq.

These include the sources and financial structures for Iraq’s major projects, the current state of the banking sector and participation of foreign lenders and the technology environment and its pivotal role in driving innovation and alleviating risk.