Central Bank announces details of its meetings with US Treasury and Federal Reserve
2/16/2025
The Central Bank announced, today, Sunday, the details of its meetings with the US Treasury and the Federal Reserve, which witnessed praise for the reform measures taken by the Central Bank and the Iraqi government in the banking sector.
The bank stated in an official statement received by {Al Furat News} that “the meetings praised the development of the US dollar cash distribution system in Iraq, describing it as “the most controlled and monitored system in the world”, due to its role in reducing manipulation and dollar smuggling operations.”
The statement explained that “the reforms also included a qualitative shift in foreign transfer operations, as the Central Bank took measures to address the risks associated with these operations, to reach levels comparable to transfers carried out by global banks.”
The bank pointed out that “international consulting firms (EY and Oliver Wyman) presented during the meetings plans to reform the public and private banking sector, in line with international standards, and to support the involvement of Iraqi banks in the global financial network.” LINK
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