FOR IMMEDIATE RELEASE July 4, 2013 U.S. Mission in Iraq and - TopicsExpress

FOR IMMEDIATE RELEASE July 4, 2013 U.S. Mission in Iraq and German Partners Inaugurate the Banking and Finance Training Academy in Erbil On July 3, 2013, the U.S. Mission in Iraq, through the United States Agency for International Development (USAID) participated in the inauguration of the Banking and Finance Training Academy (BFA) in Erbil. The Academy is a partnership between USAID and Gesellschaft für Internationale Zusammenarbeit (GIZ) and Akademie Deutscher Genossenschaften ADG.V. Schloss Montabaur (ADG). USAID Regional Representative, Dana Stinson, Stephen Heick from GIZ, and Rudiger Meister from ADG were joined by Kurdistan Regional Government Deputy Minister of Finance Rasheed Tahir and Adham Karim, the Director General of the Central Bank in the Iraqi Kurdistan Region, at the opening ceremony for the new academy. USAID and its German partners have been working together for the past five months to establish and operate the BFA. The new center will support the efforts of the Government of Iraq to improve the Iraqi banking and finance sectors’ capacity to serve the needs of investors, businesses, and all Iraqis with a view to strengthening Iraq’s private-sector economy. During the inauguration ceremony Regional Representative Stinson stated, “Opening this Banking and Finance Training Academy (BFA) is an important step towards strengthening Iraq’s banking and finance system through enriching the skills and knowledge of Iraqi banking personnel.” Based at the University of Kurdistan-Hawler in Erbil, the Banking and Finance Training Academy offers fee-for-service training to both private and public banks operating in Iraq. USAID and its German partners are providing technical assistance to the academy through international trainers, curriculum development to ensure compliance with international standards, and capacity building support for the academy staff. In 2013, the BFA expects to offer courses to over 200 Iraqi banking and financial professionals.

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