Association Of Banks: The Joint Committee With The American Side Will Begin Its Work Next Month, 30 MAY

 Association Of Banks: The Joint Committee With The American Side Will Begin Its Work Next Month

President of the Iraqi Private Banks Association, Wadih Al-Handal   Economy News – Baghdad  The head of the Iraqi Private Banks Association, Wadih Al-Handal, confirmed on 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 said, in a statement reported by the official news agency and seen by Al-Iqtisad News, that “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 that will begin... Its first meeting is 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 sense all the seriousness and have great confidence in the direction of the Prime Minister and the Central Bank of Iraq for this," pointing out, "We are working in the banking sector currently." "To open more horizons for working with correspondent banks."

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