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By John Lee.

As part of government efforts to diversify Iraq's energy mix and reduce reliance on fossil fuels, the National Investment Commission (NIC) has awarded four major investment licences in the renewable energy sector during 2025.

NIC Chairman Dr. Haider Mohammed Makkia [Makiyya] re-announced the licences on Wednesday, noting their alignment with Iraq's National Renewable Energy Strategy and environmental sustainability objectives.

The approved projects include:

1. A 1,000 MW solar power plant in Basra, awarded to TotalEnergies of France;
2. A waste-to-energy incineration facility using high-efficiency combustion technology in Baghdad, to be developed by Shanghai SUS Environment of China;
3. A 300 MW solar power station in Karbala, to be built by Karbala Solar Energy Company;
4. A 225 MW solar plant in Alexandria [Iskandariya], Babylon Province, by Babel [Babylon] Solar Energy Ltd.

Dr. Makkia stressed that these projects reflect NIC's commitment to enabling both local and international investment in clean energy, aimed at supporting Iraq's national grid while reducing carbon emissions and strengthening energy security.

He confirmed that all projects will be executed by specialised companies using modern technologies and internationally recognised environmental standards.

"These investments are an important step towards achieving Iraq's sustainable development goals and supporting the national economy with stable, clean electricity," he said.

(Source: NIC)

By John Lee.

In a coordinated effort with the Ministry of Health, Iraq's National Investment Commission (NIC) has launched a pioneering initiative to equip health centres with solar power systems, marking a step toward expanding investment in critical public service sectors and accelerating the country's shift to renewable energy.

The initiative was announced on Wednesday, 18th June, during a high-level coordination meeting held at the Ministry of Health. The session was attended by Minister of Health Dr. Saleh Mahdi Al-Hasnawi, NIC Chairman Dr. Haider Mohammed Makkia [Makiyya], and senior officials from the Ministry of Higher Education and Scientific Research.

Dr. Makkia said the programme reflects government directives to open new investment pathways in key sectors affecting citizens' daily lives. He stressed the importance of creating innovative public-private investment models in healthcare, particularly those that enhance sustainability by incorporating clean energy and supporting Iraq's sustainable development goals.

Minister Al-Hasnawi welcomed the initiative as a "qualitative leap" in adopting clean energy in health institutions, adding that it would improve service reliability. The Ministry pledged full support for this type of transformative project.

The NIC presented a comprehensive technical briefing outlining the project's scope, which begins with the installation of solar systems in select health centres in Baghdad. The pilot phase aims to evaluate technical, financial, and operational aspects before rolling out nationwide.

The initiative targets improved healthcare service efficiency and reduced dependence on unreliable grid electricity and diesel generators, especially in areas with unstable power supply. It forms part of a broader national plan to promote investment in renewable energy, public services, and smart infrastructure.

(Source: NIC)

By John Lee.

A major new Automotive Service Industrial Complex has been completed in Duhok at a cost of $62 million [81 billion Iraqi dinars]. Covering 679,000 square metres, the complex includes six zones, 2,378 industrial units, and 30,000 square metres of green space.

The development also features 15-metre-wide internal roads to ensure smooth traffic flow throughout the facility.

Workers have praised the Kurdistan Regional Government for delivering a high standard of infrastructure and public services, citing stable electricity, clean surroundings, spacious shop layouts, and extensive green areas as key benefits.

The complex is fully serviced with 24-hour electricity, fire safety systems, internet connectivity, accommodation for workers, a health centre, and an on-site police station, creating a safe and well-supported industrial environment.

(Source: KRG)

By John Lee.

Irish-based Petrel Resources last week issued unaudited preliminary results for the year ending 31 December 2024.

The company, which announced a fundraising in March, said that it has submitted a proposal to undertake contractor obligations on a relinquished block from Iraq's 4th Bid Round, and has also prepared an updated development plan for the Merjan oil field. The company said it sees opportunities in recovering flared gas and liquids.

Full statement from Petrel Resources:

Highlights

Market overview

• 2024 set consumption records for oil and LNG consumption, but oil prices fell in early 2025 due to the 'Trump tariff war' triggering fears of reduced demand.
• Uncertainty increases risk and delays investment decisions.
• Available fiscal terms, however, reflect the boom conditions between 2003 and 2014 rather than current market conditions.  States have been slow to update contractual terms to align interests, which deters development.
• Oil explorers are not yet attracting strong investor interest in western markets.  Majors buy shares back and issue dividends rather than invest the c. $610 billion necessary to supply future demand. 

 Assets overview

•  In Ghana, ratification discussions with the Ghanaian authorities on Tano acreage have re-commenced - though acreage adjustments are likely, and governance remains an issue.
•  In Iraq, there may be early opportunities to recover gas and liquids currently being flared.
•  Petrel submitted a proposal to undertake contractor obligations on a relinquished Block from the 4^th Bid Round [Block 8].
•  An updated Merjan oil field development proposal has been prepared.
•  Iraqi oil output was c.4 million barrels daily in Spring 2025, with export growth constrained by contractual terms and OPEC+ agreements.
•  Petrel seeks direct negotiations, where possible, rather than bid rounds, which are expensive and high risk, thus inappropriate for juniors.

 Outlook

The board is considering expansion opportunities in oil & gas, and energy-related projects worldwide. Our group participates in the EU Commission's Critical Resource Minerals' Initiative, which offers attractive diversification given current market conditions.  We offer an established record and potentially high liquidity and capital appreciation for the right story.  As investors re-focus on 'hard industries' and cash flow, this is a time of opportunity.

Recent months remind investors of some eternal truths: market uncertainty has increased, amid armed conflict and trade wars.  Western dependence on Chinese processing of Critical Resource Minerals means that efforts to reduce dependence on fossil fuels will not reduce exposure to distant sources and supply chains.

Policy-makers have discovered the limits of their bold dreams of a Green transition: energy costs have risen rather than fallen.  The new technologies bring new headaches: electricity storage turns out to be prohibitively expensive for grid-scale coverage.  EVs continue to penetrate markets but are price-competitive only in China.  But developed economies prefer to protect their automotive sectors rather than import cheap Chinese EVs.  In such policy myopia lies the roots of the next oil boom.

Like all previous energy transitions, Green sources turn out to be additive to rather than replacing traditional, reliable fuels - which will continue to dominate the 21^st century:

During 2024/25 there were a serious of close-calls, power failures, and brown-outs globally, culminating in the Iberian black-outs of April 2025. These were not the routine power failures common in the global south, or planned "load-shedding" in South Africa. 

These power failures were caused by over-dependence on intermittent renewable generation, allied with inadequate investment in legacy grids designed for centralised, reliable world-scale plants fuelled traditionally by coal, and then increasingly by nuclear and natural gas.  The failure was not that of renewable generation per se, since hydro-power or geothermal generally provide reliable supplies. 

The problem was with unpredictable intermittent generation, which produces Direct Current, rather than Alternating Current, and consequently does not deliver significant inertia to protect against periodic interruptions.  Battery storage, is expensive and would require vast quantities of Critical Resource Minerals to adequately back a grid up.  Traditional storage methods such as hydro are available for only a small percentage of demand.  It turns out that the intermittent renewable generation on which the "Green transition" relies is only suitable for up to 30% of demand which is the natural surplus in electrical systems.  Beyond that point, costs and risks soar.

This means that Natural Gas will continue to dominate electrical generation, both directly, and as essential back-up for the reliability modern economies require.  In price-sensitive markets, coal will continue to dominate.  Nuclear power is also an effective solution, but involves bureaucratic planning requirements, up-front costs, and is opposed politically in some developed societies.

Consumption data bear this out: recent years have seen record demand for oil and even coal.  LNG is now 55% of total traded gas, helped by malicious damage to pipelines and the time needed to extend more gas pipelines to Asian consumers.

Markets are always transitioning, which is why an average 3.75% global economic growth translates into only 2.1% energy consumption growth due to greater efficiencies.  But every energy transition in history has added new fuels rather than substituted them.  Legislators are unlikely to achieve what market forces cannot.

And yet there has been a dramatic under-investment in reliable energy exploration & development since 2014.  This is also true even of those Critical Resource Minerals necessary to fuel the new industries, which include Copper and Nickel as well as Lithium, Cobalt and the other 50-odd minerals.

To maintain adequate oil & gas supplies the world needs about $610 billion of investment (depending on materials' costs and rig-rates), but the industry invests only c.$360 billion - much of it in existing properties and basins of super-majors and National Oil Companies.  There has been little frontier exploration since 2015.  Most of the developing world is starved of investment.  Instead, producers prefer to issue dividends and buy shares back.

Part of the reason is that politicians also display myopia about how to deliver effective exploration.  Risk-investors require a risk-adjusted rate of return.  The higher the uncertainty, the more return investors require.  Best results are achieved by aligning interests, and linking taxes to profits, rather than requiring up-front payments, or royalties.

Formal bid rounds, involving up-front fees, qualification criteria designed for majors, and limited upside, are not how you expedite projects, keep cost control and optimise reservoir recovery.  That is why Petrel prefers direct negotiations, where possible, after which we can bring partners via farm-ins.

But our industry is cyclical, and majors' caution offers opportunities for independents - who have always pioneered new approaches, from offshore drilling to fracking.  So far, the emerging supply constraints have not filtered through to exploration & development.  But when they do, there will be a sharp reversal in sentiment, rewarding those farsighted enough to develop attractive acreage ripe for exploitation.

We have received several approaches offering new oil & gas exploration projects but also in Helium and other energy-related projects.  So far, all prospects have fallen short on legal title, price expectations, or financing terms.  There is no value for Petrel shareholders in over-paying.

Petrel is an EU company, and our involvement in the EU Commission's Critical Resource Minerals' "Team Europe" has fostered relationships with industrial buyers, financing institutions and key decision-makers.  There are surprisingly few juniors able to swim in all these seas.

In the meantime, there is market interest in Petrel's strong shareholder following and liquidity - especially at times of intense news-flow.  Accordingly, we continue to explore expansion opportunities.

Financing

There are contrarian investors keen to fund the right project. As during the pandemic and previous times of turbulence, directors and their supporters are open to covering working capital needs, and are prepared to participate in any necessary, future fundings.

(Source: Petrel Resources)

By John Lee.

Iraq's Minister of Electricity, Ziyad Ali Fadhil, met with UK Ambassador Irfan Siddiq and a high-level delegation to discuss British companies' role in implementing solar energy projects and reaffirm Iraq's commitment to the Paris Climate Agreement.

The delegation included Lara Hampshire, UK Director of Trade in Iraq, and Yasmin Khan, Director of Operations and Energy Trade Adviser. Talks focused on the memorandum of understanding signed last month with the UGT Renewables, a UK-US company, to develop an integrated 3,000MW solar energy project in Iraq.

The project includes battery storage systems with a capacity of up to 500MW and the construction of 1,000km of high-voltage direct current (HVDC) transmission lines to enhance grid efficiency and stability.

Minister Fadhil emphasised the importance of this initiative for Iraq's national power system and praised the strong collaboration with the UK and reputable international firms. The executing company will also implement a two-year training programme and provide maintenance services using advanced D-EPC methods.

Fadhil reaffirmed the government's goal of reducing carbon emissions from the energy sector, targeting 12,000MW of solar capacity by 2030 as part of its broader renewable energy strategy.

The British delegation expressed their commitment to deepening the energy partnership with Iraq and contributing technical expertise to support sustainable development in the electricity sector.

(Source: Ministry of Electricity)

By John Lee.

Iraq's Prime Minister, Mohammed Shia Al-Sudani, officially launched the construction of the Diwan Factory Project in Babil Governorate on Wednesday. The strategic initiative by local company Etihad Group will produce electrical transformers, cables, and smart meters.

The project, with a total budget of $300 million [approx. 393 billion IQD], is being built to the latest technical standards and is part of the government's broader strategy to localise electrical industries and reduce dependence on imports.

Al-Sudani described the factory as a key step toward enhancing Iraq's energy security and supporting advanced smart technologies. He reaffirmed the government's commitment to supporting the industrial sector and enabling national manufacturing across all areas.

The Prime Minister praised the efforts of Iraqi professionals driving transformative progress and emphasised the role of this project in laying the foundation for renewable energy initiatives and strengthening the national electricity supply chain.

On his visit to the province, the Prime Minister also officially opened a major new flour factory, which is also being developed by Etihad Group.

(Source: Prime Minister's Office)

By John Lee.

The Iraqi private sector confronts significant obstacles that must be addressed to unlock the country's economic potential, according to Professor Frank Gunter of Lehigh University, speaking at the Iraq Britain Business Council (IBBC) Spring Conference in London recently.

Professor Gunter identified four critical challenges hampering private enterprise development in Iraq:

1. Finance: Iraqi businesses struggle to access basic financial services including cross-country bill payments and funding. "The first source of funds is family, not a bank, not a loan, not a venture capitalist," Professor Gunter noted, emphasising that this reliance on family financing must change for sustainable growth.
2. Education: The country faces challenges in both quantity and quality of education. Iraq had been making progress in reducing illiteracy until ISIS disrupted educational systems between 2014 and 2017, forcing many out of schools and creating refugee populations. The professor stressed the need to eliminate illiteracy, particularly among older workers, whilst improving educational quality to meet private sector demands for engineers and scientifically-trained personnel rather than bureaucrats.
3. Infrastructure: Basic infrastructure remains deficient, with Iraq lacking reliable 24-hour electricity despite two decades of substantial investment spending.
4. Regulatory Environment: This emerged as perhaps the most damaging constraint. Professor Gunter cited a recent World Bank study examining 50 countries, which found Iraq ranking last among 16 nations with similar economic development levels for regulatory quality. Even when compared to all 50 countries studied-including those with lower development levels and nations experiencing civil wars-Iraq ranked 45th.

The findings suggest substantial reform will be required across multiple sectors to create a conducive environment for private enterprise in Iraq.

By John Lee.

As part of Iraq's government-backed gas development programme, the Ministry of Oil has reported significant progress in reducing gas flaring and increasing gas utilisation.

It says the Ministry has raised associated gas capture from 53% to 70%, and dry gas production from 1,300 to 1,800 million standard cubic feet per day (mmscfd).

Key projects already completed or underway include:

• Halfaya Gas Project (Missan): 300 mmscfd
• Basra Gas Company (BGC) (BNGL1 and BNGL2): 200 mmscfd each
• Artawi [Ratawi] Gas Project (TotalEnergies contract): 600 mmscfd
• Faihaa Field Gas Project: 130 mmscfd
• Nahr Bin Umar Field (Basra): 300 mmscfd
• Gharraf and Nassiriya Fields: 200 mmscfd
• Akkas Gas Field (Anbar): 40 mmscfd
• Accelerated Artawi Project: 50 mmscfd

The government aims to end routine flaring by 2028 and increase gas output to 3,000 mmscfd by 2030, aligning with Iraq's environmental commitments under the 2016 Paris Agreement.

In liquefied petroleum gas (LPG), production rose from 2 million tonnes in 2024 to 3 million tonnes in 2025. Exports also surged from 250,000 tonnes in 2023 to 1 million tonnes in 2025. LPG systems were installed in over 41,000 homes and more than 38,000 vehicles.

To expand storage capacity, the Ministry completed 8 of 16 spherical LPG tanks, each with a 3,000-cubic-metre capacity, adding 24,000 cubic metres overall.

The Ministry reiterated its commitment to maximise national resource utilisation, enhance electricity supply, and boost petrochemical production. Gas field contracts under the 5th and 6th licensing rounds have been awarded to international companies, alongside dozens of investment agreements to develop both associated and free gas resources.

(Source: Ministry of Oil)

By John Lee.

The Kurdistan Regional Government (KRG) has said that its Runaki (Light) project is making significant progress toward delivering 24-hour electricity to the entire Kurdistan Region by the end of 2026.

One of the initiative's key milestones is the planned decommissioning of approximately 7,000 private diesel generators, which have long been a major source of environmental pollution. So far, 1,260 generators have been shut down, including 1,092 in Erbil, 79 in Slemani, and 89 in Duhok, representing 17 percent of the total.

The shutdown is projected to cut carbon dioxide emissions by 240,000 tonnes per year, the equivalent of removing 250,000 vehicles from circulation. Upon full implementation by 2026, the project will eliminate 1.4 million tonnes of CO₂ emissions annually, a 4-percent reduction in the Region's overall carbon footprint.

Full statement from the KRG:

Runaki Project to Shut Down 7,000 Private Generators Across the Kurdistan Region

The Runaki (Light) Project is a national initiative by the Kurdistan Regional Government (KRG), aimed at providing 24-hour electricity across the entire Kurdistan Region by the end of 2026.

One of the project's most significant achievements is the shutdown of approximately 7,000 private diesel generators throughout the region.

These generators were a major source of environmental pollution in the Kurdistan Region. Key data from this phase of the Runaki Project are outlined below:

1. A total of 1,260 private generators have been decommissioned across the region: 1,092 in Erbil, 79 in Slemani, and 89 in Duhok.
2. ⁠This figure represents 17% of all private generators previously operating in the Kurdistan Region.
3. ⁠The shutdown of these generators is estimated to reduce carbon dioxide emissions by 240,000 tonnes per year-equivalent to removing approximately 250,000 vehicles from the roads.

Environmental Impact of Deactivating Private Generators Under the Runaki Project by 2026:

1. ⁠By the end of 2026, the project will have fully phased out private generators, resulting in an estimated annual reduction of 1.4 million tonnes of carbon dioxide emissions.
2. ⁠This reduction is equivalent to removing 1.3 million vehicles from the roads.
3. ⁠The initiative will contribute to a 4% decrease in overall carbon dioxide emissions in the Kurdistan Region.

Implementation Approach:

1. The Runaki Project has established agreements with private generator owners to deactivate their generators, limiting their use to emergency backup only.
2. ⁠As a result, over 1 million public electricity consumers now enjoy uninterrupted 24-hour electricity supply provided directly by the project.
3. ⁠Throughout the duration of the project, private generator owners have consistently received their agreed monthly compensation.

Categories of Generators Decommissioned Under the Runaki Project:

1. Private generators serving residential areas
2. ⁠Generators owned by individual households
3. ⁠Generators powering commercial establishments, including hotels and restaurants
4. ⁠Generators located in public areas, such as parks

Financial Benefits:

1. ⁠80% of citizens now pay less than they previously did for a combination of private generator and public electricity services.
2. ⁠In the past, low-income households spent up to 30% of their monthly income on private generator costs.
3. ⁠Now, citizens are billed solely based on their actual electricity usage.

Health and Environmental Benefits of the Runaki Project:

1. ⁠The project reduces harmful emissions by shutting down residential private generators, significantly cutting the release of carbon dioxide, sulphur dioxide, and other toxic gases.
2. ⁠It prevents soil and water contamination by ending the improper disposal of wastewater and used oil.
3. ⁠It conserves approximately 1 million square metres of water annually that was previously used to cool private generators.
4. ⁠It reduces noise pollution by removing generators that operated at noise levels 50% to 100% above acceptable standards.

(Source: KRG)

From the Iraq Britain Business Council (IBBC):

IBBC Holds Successful Spring Conference at the Mansion House

IBBC hosted over 250 members, businesses and government officials for its 13th Mansion House conference on 2-3 June. IBBC President Baroness Nicholson welcomed the delegates, in particular the Ministers and official government guests from Iraq, led by Deputy Prime Minister and Minister of Oil H.E. Hayan Abdul Ghani Al Sawad, and H.E. Mohammed Al Darraji, the Prime Minister's representative.

H.E. Hayan Abdul Ghani Al Sawad, Deputy Prime Minister and Minister of Oil

From the UK side, Mr Tim Reid, CEO of UK Export Finance, and Sir Nicholas Lyons, the Lord Mayor's representative, attended. Lord Howell delivered an insightful speech on global challenges, democracy, and future strategy, while Lord Green spoke at the reception the previous evening. Mr Mohammed Al Asaadi of Hammurabi Law and IBBC Member Representative in Iraq, and Mr Sardar Bebany, Chairman of Sardar Group and IBBC Executive Committee Member, also addressed the gathering. Christophe Michels, Managing Director of IBBC, chaired the conference.

H.E. Mohammed Al Darraji, the Prime Minister's representative

We are grateful to our sponsors: Sardar Group, EMAAL, Hogan Lovells, Trade Bank of Iraq, Al Zaman Group, Al Rida Investments, and 1001 Media and travel partner - London Sky.

Throughout the day, panels addressed a broad range of topics including geopolitics, finance, investment, banking reform, energy, growth and diversification, and heritage. Roundtables were held on education, the women's group, finance, and the tech forum.

The special Rasmi Al Jabri Award was presented to Ismail, founder of Al Busttan, a close friend of Rasmi and a founding figure of IBBC in Iraq. The award recognises exemplary Anglo-Iraqi collaboration and business growth.

Mr Ismael Shakir, Managing Director, Al Busttan receiving Rasmi Al Jabri Award

Christophe Michels closed the conference by thanking delegates and announcing the next IBBC conference will take place in Basra on 4 December.

Conference Themes

The conference panels addressed key issues and opportunities, with an overall tone that was optimistic and forward-looking, reflecting Iraq's growing political and economic stability, and a renewed sense of prosperity and diplomatic engagement.

H.E. Minister Al Sawad outlined significant progress: from gas capture and electricity generation to fertiliser and chemical production. He noted contracts with BP for integrated production in Kirkuk, and with Total for energy and water systems in Basra. A carbon reduction company is being established to monitor emissions. There is also a focus on replacing sweet water with desalinated water in Basra, and boosting local production to reduce imports.

H.E. Mr Al Darraji reaffirmed Iraq's balanced regional role, commitment to stability, democratic governance, reduction of armed non-state actors, and a stable exchange rate. The Government is pushing to diversify the economy beyond energy, launching carbon bonds, and attracting FDI with sovereign guarantees. Iraq's economy is healthy, with a GDP-to-debt ratio of just 10%, improved laws for foreign investors, and new contracts, such as a £1.1bn sewage deal with the UK. The diaspora in the UK is encouraged to invest in Iraq.

Tim Reid, CEO of UKEF, highlighted the UK's support, with £8bn available in 2024 from a total budget of £80bn. He underlined UKEF's role in enabling certainty for UK companies and their partners. Projects in Iraq include stormwater and sanitation for 20,000 people, and £100m invested in British fire trucks to improve urban safety.

Ms Zara Murad Griffiss shared her ambition to represent Iraq in dressage at the 2028 Los Angeles Olympics. To qualify, she needs to raise £1m. IBBC is proud to support one of the few Iraqi women aiming to compete at this level.

Ms Zara Murad Griffiss, International Equestrian

Mr Bebany of Sardar Group explained that their operations are anchored around Toyota and JLR, employing over 4,000 staff, and emphasised the company's investment in staff development.

Mr Al Asaadi of Sama Hammurabi Law expressed honour in representing IBBC members, pledging continued legal and institutional support for business.

Lord Howell, drawing on his recent book The Edge of Anarchy, delivered a powerful analysis of geopolitical risks, urging renewed national resilience and civic preparedness. He called for strategic reinvention, greater public engagement, financial literacy, and a strengthened parliamentary system-suggesting compulsory voting and proposing Iraq join the Commonwealth.

Keynote Address: The Rt Hon Lord Howell of Guildford

Geopolitics Panel

Chaired by Jon Wilks, the panel included Dr Lina Khatib (Harvard), who noted Iraq's positive regional engagement and a shift towards Arab-led leadership. Prof Gareth Stansfield (Exeter University) and David Hunt (FCDO) added depth on regional dynamics and Iraq's evolving role.

Energy Panel

Zaid Elyaseri (BP Iraq) spoke of increased investment in Kirkuk and Rumaila, integrating oil, gas, and water for more sustainable operations, with 94% local staffing. Dunia Chalabi (Total) described Total's integrated Basra system using solar power, desalinated water, and gas capture. Sultan Al Maliki (BGC) detailed LPG exports, local energy generation, and community support via the AMAR Foundation. Sara Akbar (Oilserve) argued for closer Iraq-Kuwait cooperation and pointed to regulatory hurdles for domestic companies.

Session 1: Energy

Dr Luay Al Khatteeb, chairing the session, noted that subsidies distort energy usage and that crypto mining is adding pressure to electricity demand.

Diversification and Growth

Prof Frank Gunter noted that while oil accounts for 90% of revenue, it provides only 2% of jobs. With youth underemployment at 80%, the private sector, improved banking, and credit access are critical. Steve Alexander (Sardar) called for simplified procurement, better credit access, and talent development. Mohsen Khairaldin Garcia (1001) highlighted IP theft as a barrier to Iraq's creative economy. Abir Burhan (Al Burhan) discussed the growing need for high-quality housing. Dr Ali Altaiee (Iraq 24 / EMAAL) announced Iraq's first business summit and called for SME support and legal harmonisation across ministries.

Session 2: Growth and Diversification

Banking and Finance

Chaired by Ardil Salem (Hogan Lovells), the banking reform panel included Ezzeldin Yousef (Central Bank), Dr Salahuddin Al Hadeethi (Ministry of Finance), and Dr Salih Salman (PM's advisor). Mr Salem also chaired the financing panel with contributions from Ali Al Awad (Al Rida Investments), Raed Hanna (Mutal Finance), Joseph Chakra (UKEF), Bilal Al Sugheyer (IFC), and Taiseer Mohammed (Trade Bank of Iraq).

Session 3: Banking Reform and Change

Education and Heritage

The Education roundtable drew strong interest. Chaired by Prof Dr Kossay Al Ahmady, the Iraqi cultural attaché, and Prof Mohammed Al Uzri, the session covered scholarships and training, with contributions from Oxford (Somerville College, Life Sciences, Islamic Centre), Newcastle, Liverpool, Exeter and others.

The Women's Group, led by Ghadeer Haider, discussed women's leadership in business.

Women's Group roundtable discussion

The Heritage Panel, chaired by Prof Al Uzri, heard from Dr William Deadman (Durham), Richard Wilding (RGS), Dr Mary Shepperson (BISI), and Dr Rosalind Haddon and Maysoon Al Damluji, on urgent efforts to document and protect Iraq's historic structures. A campaign to raise awareness among Iraqis of their heritage was proposed.

Mr Richard Wilding, Royal Geographical Society speaking during Heritage Session 1

Christophe Michels closed the event by thanking all sponsors and staff and confirmed that the next IBBC conference will be held in Basra on 4 December.