The Governor Of The Central Bank Meets With The Chairman Of The First Abu Dhabi Bank Group, 13 DEC

 The Governor Of The Central Bank Meets With The Chairman Of The First Abu Dhabi Bank Group

 December 13, 2023       The Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, met in Dubai with the Chairman of the First Abu Dhabi Bank Group, Ms. Hana Al Rostamani, and

during the meeting it was agreed to launch financial transfer operations between the two countries and to finance trade and imports between Iraq and the United Arab Emirates in the UAE dirham currency through the First Abu Dhabi Bank.

Transfer operations in the UAE dirham began today, Wednesday, December 13, and the first phase of this agreement will be with five Iraqi banks, which will be gradually increased.

This step comes within the framework of enabling Iraqi banks to establish relationships with reputable international banks, and it aims to reduce dependence on the electronic platform. For financial transfers and working in accordance with normal international practices adopted in enhancing Iraqi bank balances for the purposes of financing trade.

 The First Abu Dhabi Bank offered to contribute to financing clean energy projects in Iraq.  It is noteworthy that First Abu Dhabi Bank is one of the largest and strongest financial institutions in the world, with a credit rating of AA-, and its total assets amount to about 300 billion US dollars.   

Central Bank of Iraq     information Office     13 - December – 2023   https://cbi.iq/news/view/2483