Association of Banks: The joint committee with the American side will begin its work next month, 29 MAY

Association of Banks: The joint committee with the American side will begin its work next month

Economy  Today, 15:54

Baghdad - IA - Hassan Al-Fawaz

The head of the Iraqi Private Banks Association, Wadih Al-Handal, confirmed today, Wednesday, the effort to open more prospects for work with correspondent banks, while indicating that the joint committee with the American side regarding the banking sector will begin its work next month.

Al-Handal told the Iraqi News Agency (INA): “The Prime Minister’s recent visit to the United States of America had a great impact on the understanding with the American side,” indicating that “what is important in this understanding is the formation of the committee, which will begin its first meetings at the beginning of next June.” .

He added, "We are very optimistic about this committee, which will be concerned with correcting the situation and returning the banking sector as much as possible to what it was, including dealing with correspondent banks and other clear points at the Central Bank of Iraq, including compliance and training of human cadres, including requirements related to money laundering."

He continued, "What was mentioned above is adopted by correspondent banks, in addition to the standards of disclosure and transparency of sources of funds, and these are the ABCs known in banking, and we feel all the seriousness and have great confidence in the approach of the Prime Minister and the Central Bank of Iraq to that," pointing out, "We are working in the banking sector currently." "To open more horizons for working with correspondent banks."