On Thursday, the Central Bank of Iraq announced an agreement with an American delegation to cover the bank’s demands for cash shipments of dollar money for the coming year.
In a statement issued today, the bank claimed that a team from it had finished discussions in Dubai with delegations from the US Federal Reserve and the US Treasury Department.
He also stated that the meetings resulted in a number of agreements related to supporting the Central Bank of Iraq’s policies in its approach to assisting Iraqi banks in establishing relationships with correspondent banks and the gradual transition of operations to improve the advance balance of these banks’ accounts.
According to the statement, this is consistent with what the Central Bank of Iraq previously announced in its plan to gradually reduce reliance on the electronic platform until it ends its work during the next year and limits it to recording financial transfers for control, auditing, and analysis.
According to the statement, the Governor of the Central Bank of Iraq, Ali Al-Alaq, is committed to help Iraqi banks, improve their capacities, and prepare them to function in accordance with international principles.
According to the statement, the aforementioned authorities agreed and authorized meeting the Central Bank of Iraq’s demands for cash shipments in 2024.
According to a statement issued by the Central Bank of Iraq, the sessions saw a number of agreements targeted at strengthening Iraqi banks’ capacities and improving their compliance with international norms.