Association of Iraqi Private Banks praises Sudanese visit to Washington
Economy News – Baghdad
The adviser to the Association of Iraqi Private Banks, Samir Al-Nusairi, stressed on Wednesday the importance of the visit currently being conducted by Prime Minister Mohammed Shiaa Al-Sudani to Washington regarding financial and banking talks.
Al-Nusairi said in a televised interview followed by “Economy News” that “Sudan Prime Minister Mohammed Shia and his accompanying delegation held an important meeting in Washington with the US Undersecretary of the US Treasury to discuss areas of cooperation in financial and banking aspects.”
He added that “the meeting came out with an official statement that explained that there are measures that will be taken in the light of what happened in these negotiations,” noting that “there is great government interest to achieve the financial and economic reform process and there is American acclaim in this reform process.”
He revealed that “21 private Iraqi banks have opened 40 accounts in correspondent banks during the last period,” explaining that “these private banks are dealing directly with correspondent banks with regard to foreign transfers, which means that the electronic platform will be gradually canceled and left at the end of 2024, and this is what was agreed upon during the current visit of the Prime Minister to Washington and is in line with the strategy of the Central Bank of Iraq.”
Al-Nusairi pointed out that “the Iraqi banking sector hopes that this visit will achieve its objectives with regard to the rehabilitation process that the Central Bank of Iraq began since 2023 in compliance with international standards.”
He added that “next month, three Iraqi banks will be added to those that have opened an account in the United Arab Emirates, as well as those that have correspondent banks in some countries of the world and practice foreign trade financing operations in the dollar currency and other foreign currencies.”
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