imported 2024-03-17 17:43:06
In a region of nearly five million citizens and hundreds of new business operations, banking experts refer to autonomous Kurdistan as “underbanked” and thus see opportunity in opening branches there or creating entirely new banks.
The banking sector in Kurdistan and Iraq is in need of major reforms. There are a number of banks interested in the market as it has huge growth potential but lack of strong regulator robust regulations is deterring major banking players from entering the country.
As for Halal banking (Islamic Banking and Finance), We see prospectus for emergence and growth of Islamic finance and banking in Kurdistan in as much as the state is part of the larger Muslim MENA countries.
Saad Hassan, Vice Chairman of Qaiwan Group of Companies, one of the major diversified companies headquartered in Sulaymaniyah with an annual turnover of US$ 3 bn, talks about the biggest challenge for companies when doing business in Iraq and Iraqi Kurdistan.
Qaiwan group is a conglomerate involved in real-estate development, downstream oil and gas, oil distribution and trading as well as in electronics trading (sole distributor of Hitachi brand).
Saad Hassan, Vice Chairman of Qaiwan Group of Companies, an operator of the Bazian Refinery near Sulaymaniyah, talks about the expansion plans and the strategy.
Ahmed Rikany, Chairman of Rekan Group and President of Kurdistan Investors Union talks about the real estate bubble in Iraqi Kurdistan and Rekan Group.
Abdulla Gardi, President and CEO of Senk Group discusses the tendering process, business climate in Iraqi Kurdistan and the strategy of Senk Group. The president’s vision is to become the top road construction company in Iraqi Kurdistan and Iraq by offering superior quality of construction.
Sabah Milhim Mohi, Chairman of Emerald Bank discusses the banking sector, banking regulation, competition, challenges and investment opportunities in an exclusive interview.
Albeit untouched, the international isolation and 30 years of limited investment, has left Iraqi Kurdistan struggling with aging infrastructure.
