GOLDILOCKS
Iraq just visited the United States on August 26 to 29, 2024. It was a high level negotiating team that met with JP Morgan, the US Treasury, Federal Reserve Bank, visa, mastercard, moneygram, Citibank, as well as International auditing firms such as KPMG, E&Y, K2i and Oliver Wyman.
One of the values of a meaning such as this includes trade facilitation. International auditing standards help to facilitate trade and support economic growth. Every international negotiator knows how to factor currency rates into agreements with their foreign business partners.
Part of the discussion dealt with moving from an electronic platform to a virtual bank whereby a Direct Banking relationship can occur. Direct banks, also known as branch-less or virtual banks, offer their services online, through mobile apps, email, and other electronic means.
Another portion of the conversation moved towards International engagement through International correspondent banking such as the Swift system provides. A network of international correspondent banks is a complex system of financial institutions that work together to facilitate global transactions.
Yes, this requires a stable exchange rate that can be used between countries in trade and foreign currency exchange. These determinations are a part of supply and demand ratios factored in through trade.
The people invited to this meeting was no accident. It was a negotiating team ready for action. It was a meeting to discuss "the requirements necessary to open their accounts with international correspondent banks." This transition is expected to occur by the end of this year.
This moves Iraq from a supervisory role with the United States to a more independent nation with their own rules and regulations to guide their financial agreements around the world. Yes, this is the information have been looking for for long time.
Watch the water.
© Goldilocks
https://cbi.iq/news/view/2660
https://www.negotiations.com/articles/international-transactions/
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