Iraqi Prime Minister Muhammad Shiaa Al-Sudani told the US Treasury Undersecretary of the extension of his government’s work in curbing money laundering activities on Tuesday in New York, while the latter noted that global financial institutions’ confidence had been restored.
According to a statement issued by his office and received by Shafaq News Agency, this occurred during a meeting with Al-Sudani in New York after midnight (Baghdad time) with US Treasury Under Secretary Brian Nelson on the sidelines of his participation in the meetings of the United Nations General Assembly at its seventy-eighth session.
The meeting, according to the statement, saw a discussion of collaboration mechanisms between Iraq and the US Department of the Treasury, as well as a review of the government’s goals in executing economic and administrative changes that are part of the government agenda.
Al-Sudani emphasized that the government has taken several steps with the Central Bank of Iraq to implement financial reform, which is regarded as a critical component of economic reform in achieving the government’s goal of transitioning from a unilateral economy to a productive and multi-economic economy, where, for the first time, a financial database for banking transactions was created in a way that fosters confidence. Required when working with banks, both domestic and foreign.
Al-Sudani also highlighted the government’s efforts to reduce money laundering activities at the procedural and judicial levels by implementing the necessary international standards, allowing it to accomplish genuine commerce that propels the economy forward.
According to Al-Sudani, the government supports the private sector through a series of choices and processes, as well as by include the required facilities in the federal budget for the next three years.
Nelson, for his part, praised the government’s reforms in the banking and financial sectors, as well as the government’s success in regaining the trust of global financial institutions such as Citibank and JP Morgan, emphasizing the US Treasury’s readiness to work closely with the Central Bank of Iraq and cooperate with Iraq on financial liquidity and Iraqi commercial bank transfers outside the country. He reaffirmed his country’s commitment to the economic stability of Iraq.