Chambers of Commerce: Implementing the SWIFT system will attract international commercial activities to Iraq
3/31/2024 Baghdad - IA - Fatima Rahma
Today, Sunday, the Federation of Iraqi Chambers of Commerce explained the importance of the SWIFT system on the Iraqi economic movement, stressing that the implementation of this system will attract international commercial activities to Iraq.
The president of the federation, Abdul Razzaq Al-Zuhairi, told the Iraqi News Agency (INA): “SWIFT is a global system, and when it was implemented in Iraq, funds became managed in a white-collar manner before the world.”
He added, "Implementing the SWIFT system will give us a great opportunity to attract all sectors and international commercial activities that come to Iraq, because the transfer has become through this platform, and the importer and exporter have become known, and all papers are clear and natural."
Al-Zuhri stated: “There was a great delay in starting to implement the SWIFT system for two or three months, on the part of most commercial companies, Iraqi banks, and the Central Bank, because the system is new and there is no information about this issue, but now things are going well.”
He pointed out, “The more traders and business owners enter the platform, the more stability there will be in the exchange rate,” expressing his hope that “there will be real participation between the public and private sectors.” LINK
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