The Central Bank Of Iraq Announces Positive Results From Its Quarterly Meetings With The American Side, 18 FEB

 The Central Bank Of Iraq Announces Positive Results From Its Quarterly Meetings With The American Side

 02/16/2025   Mawazine News – Economy  The Central Bank of Iraq announced, on Sunday, that its quarterly meetings with the American side and international auditing companies had yielded positive results, denying that some Iraqi banks were subject to international sanctions.

The bank said in a statement received by "Mawazine News" that the first quarterly meetings for the year 2025 with the US Treasury and the US Federal Reserve, which were held in the United Arab Emirates with the participation of international auditing and consulting companies (EY, K2 Integrity, and Oliver Wyman), were crowned with praise for the steps taken by the Central Bank of Iraq and the Iraqi government to reform the banking sector.

He indicated that the most important of these reforms are:

1- The development of the cash distribution system for the US dollar in Iraq, which they considered the most controlled and controlled system in the world, which limits manipulation and smuggling of the US dollar.

2- The qualitative shift in foreign transfer operations and the steps taken by the Central Bank of Iraq to address the risks arising from these operations, which have now risen to the levels of transfer operations carried out by international banks.

3- The consulting firms (EY and Oliver Wyman) reviewed the plans to reform and upgrade the public and private banking sectors in line with international standards and to facilitate the involvement of Iraqi banks in the international financial relations network.

The bank said: "Since the operations carried out by banks operating in Iraq depend largely on the confidence of international correspondent banks in the Iraqi banking sector, we emphasize the need to ensure the adoption of the official channels of this bank to know the latest news and not to transmit incorrect news such as the exposure of some Iraqi banks to international sanctions and others." https://www.mawazin.net/Details.aspx?jimare=259614