The US Treasury appreciates the Iraqi Central Bank’s procedures for contracting with international auditing companies, 14 SEPT

The US Treasury appreciates the Iraqi Central Bank’s procedures for contracting with international auditing companies

On Wednesday, the US Treasury Department commended the Central Bank of Iraq for taking steps to ensure the accuracy and transparency of procedures by contracting with international auditing firms.

The Central Bank of Iraq’s media office released a statement announcing that Governor Ali Mohsen Al-Alaq had met with Elizabeth Rosenberg, the US Assistant Secretary of the Treasury, and her team.

The following is a clearer version of the statement: During the meeting, the two sides discussed their bilateral relations. They also talked about the Central Bank of Iraq’s actions to combat money laundering and terrorist financing. Additionally, the US Treasury confirmed its continued support and joint efforts to promote transparency and integrity, and to implement international compliance instructions in the Iraqi banking system.

During the meeting, both parties discussed following up on the outcomes and results of their previous meetings. The Central Bank of Iraq, the US Treasury Department, and the US Federal Bank were involved in these meetings. They also talked about the possibility of providing technical support in the field of financing foreign trade through secure banking channels. The mechanisms that enable the financing of legitimate foreign trade were also discussed. The parties agreed to conduct trade transactions using different currencies, including the euro, the Chinese yuan, and the Emirati dirham. Additionally, they decided to organize trade movement with the Republic of Turkey.

The US Treasury Department appreciated the efforts of the Central Bank of Iraq in contracting international auditing companies to ensure accuracy and transparency.