The UAE economy demonstrates exceptional resilience and robust fundamentals that enable it to overcome challenges, according to Dr. Ziad Khalaf, Chairman of the International Development Bank. The UAE economic resilience has been proven over recent years through its ability to absorb regional and international shocks, supported by economic diversification, strong fiscal and monetary policies, and an advanced legislative and regulatory framework.
Dr. Khalaf emphasized that Dubai and Abu Dhabi have solidified their positions as global hubs for trade, finance, energy, and logistics services. This strategic positioning enhances the national economy’s capacity to sustain growth despite volatile geopolitical conditions.
UAE Economic Stability Attracts International Investment
Based on banking operations in both the UAE and Iraq, Dr. Khalaf noted the significant confidence international investors display toward the UAE business environment. This confidence reflects positively on the ability to attract capital and direct it toward promising opportunities in Iraq through this secure and stable economic platform.
The International Development Bank has emerged as one of the fastest-growing banks in terms of assets in Iraq, according to Dr. Khalaf. The institution is supported by a strategic vision focused on leading trade finance, diversifying exports, and strengthening governance, compliance, and risk management principles in accordance with international best practices.
Investment Opportunities Between UAE and Iraq
Regarding the most attractive sectors for Iraqi companies investing in the Emirates, Dr. Khalaf explained that the UAE has become a regional and global platform across multiple sectors. The key sectors recommended for Iraqi investors include logistics services, real estate and contracting, financial technology, and renewable energy.
Additionally, Dr. Khalaf highlighted that the UAE can play a pivotal role in developing several vital sectors in Iraq. These include infrastructure, energy, real estate, renewable energy, and sustainability initiatives, providing significant growth potential for bilateral cooperation.
Meanwhile, substantial opportunities exist in manufacturing, technology, education, and healthcare sectors. UAE companies possess deep expertise that can be localized in Iraq through long-term partnerships, according to Dr. Khalaf. The International Development Bank’s role involves providing necessary financing tools and guarantees to enable these investments and reduce risks for Emirati investors.
Trade Volume Reflects Strong Economic Partnership
Economic indicators demonstrate that the trade exchange volume between Iraq and the UAE has witnessed notable growth in recent years, reaching approximately 39 billion dollars annually, according to Dr. Khalaf. This expansion is supported by growing investment relations and increased cooperation between companies in both countries.
However, the importance of Emirati investments in Iraq extends beyond mere financial figures. Dr. Khalaf stated that UAE investments in Iraq constitute a fundamental pillar in deepening bilateral economic partnership, contributing to knowledge transfer, expertise sharing, and introducing advanced technologies to the Iraqi market.
In contrast to previous limited engagement, these investments now provide long-term capital to support strategic and developmental projects. The economic diversification strategy pursued by both nations creates complementary opportunities that benefit their respective markets and populations.
Strategic Expansion Plans for 2026
When asked about the possibility of opening additional branches in the UAE, Dr. Khalaf responded that the International Development Bank aims to implement a strategic expansion plan during 2026. This initiative seeks to enhance the bank’s presence and develop innovative banking services and products, confirming its commitment to providing advanced financial solutions that meet customer needs.
The establishment of the bank’s presence in Dubai represents a strategic first step to represent the Iraqi banking sector in one of the region’s most important financial capitals. Further expansion details and specific branch opening timelines are expected to be announced as the bank progresses with its 2026 strategic plan.
