The first of its kind.. Sulaymaniyah opens an international financial center in the Kurdistan Region, 21 FEB

 The first of its kind.. Sulaymaniyah opens an international financial center in the Kurdistan Region

Shafaq News/ The city of Sulaymaniyah witnessed the opening of the International Center for Finance and Trade, on Thursday evening, in the presence of the Governor of the Central Bank of Iraq, Ali Al-Alaq, and the directors of Rafidain and Rashid Banks, in addition to economic and commercial figures from inside and outside the region.

Shafaq News Agency correspondent said that the center is the first of its kind in the Kurdistan Region, and the second in Iraq after the Iraq Stock Exchange, as it aims to enhance economic and commercial movement and attract foreign investments.

The center’s media officer, Shad Khosro, said during a press conference that this center will contribute to the development of the financial and commercial sector in Sulaymaniyah, and will provide a modern infrastructure that includes branches of foreign and local banks, in addition to financial stock companies and a stock exchange.

He explained that the establishment of this center comes within the framework of enhancing financial stability in the Kurdistan Region, and expanding the scope of trade exchange with the interior and exterior, noting that “it will become in the future a major financial exchange in Sulaymaniyah, which will contribute to attracting investors, providing new job opportunities, and reducing the unemployment rate in the region.”

The media official stressed that “the opening of this financial and commercial edifice represents an important step towards strengthening the economic infrastructure in the Kurdistan Region,” expecting that the coming period will witness an increasing demand from banks and companies to open their branches in this center, which will push the economy towards more growth and stability.

The opening of the International Finance and Trade Center in Sulaymaniyah comes at a time when the Kurdistan Region is witnessing major economic transformations, as it seeks to boost foreign investment and develop the business environment.

This center is part of a long-term strategy aimed at diversifying sources of income and reducing dependence on oil revenues by building a sustainable financial and commercial sector that meets international standards.

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