GOLDILOCKS
"His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, received the Ambassador of the Republic of Turkey to Iraq, His Excellency Mr. Anil Bora Inan, with a delegation of representatives of Turkish banks operating in Iraq."
The meeting had two purposes: The use of international audit firms between banking systems in trade between Iraq and Turkey and external transfers between their Banks.
Audit firms are important in the regulatory auditing of banks and securities firms. They assess compliance with regulatory requirements and consider the risks that supervised institutions face. Bank auditors also verify income recognition, asset classification, and capital adequacy. They evaluate the effectiveness of internal controls, risk management, and corporate governance.
And finally, external transfers, also known as a bank-to-bank transfers, is a way to move money from one bank account to another.
Did you notice Asset Classification and Bank to Bank movement of money were mentioned in this article? We discussed these in previous articles as requirements needed for Iraq's movement of money.
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https://cbi.iq/news/view/2683
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