Ali Mohsen Al-Alaq, Governor of the Central Bank of Iraq (CBI), met with Turkish Ambassador Anil Bora Inan and representatives of Turkish banks in Iraq to talk about a new way to transfer money.
The new system, which works in euros and is done through Turkish banks, aims to make trade-related transactions easier and faster. In order to meet regulatory requirements, Turkish banks expressed their readiness to adhere to the new system and work with international auditing firms.
Ambassador Inan praised the Central Bank’s efforts to manage the shift and improve coordination to make cross-border financial transactions easier.