CENTRAL BANK GOVERNOR: WASHINGTON RESPONDS TO ALL THAT IRAQ NEEDS IN TERMS OF DOLLARS AND A MEETING WITH IT NEXT MONTH, 28 NOV

 CENTRAL BANK GOVERNOR: WASHINGTON RESPONDS TO ALL THAT IRAQ NEEDS IN TERMS OF DOLLARS AND A MEETING WITH IT NEXT MONTH

Central Bank Governor Ali Al-Alaq announced that the Federal Reserve and the US Treasury are responding to all requests for the dollar Iraq needs.

Al-Alaq said in a press interview that “the Iraqi Central Bank will hold a meeting with the US Treasury and the Federal Reserve early next month in Dubai,” noting that “radical steps will be taken within the framework of reorganizing trade on the right foundations,” noting that “the electronic platform will be completed (ending) early next year.”

He noted that “the Central Bank will exit the process of conducting the executive aspects of the external transfer and its role will be limited to supervision, and we have worked to create a new relationship between Iraqi banks and internationally accredited correspondent banks abroad.”

He pointed out that “the US Federal Reserve provides support in creating a relationship between Iraqi banks and correspondent banks,” noting that “the operations of opening accounts for Iraqi banks are happening for the first time, and that the rejection of transfers on the electronic platform has begun to decline and there are no restrictions on Iraqi funds abroad.”

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