On Wednesday, the US Treasury Department praised the Central Bank of Iraq’s efforts and measures in contracting with foreign auditing firms to verify the correctness and openness of operations.
The Central Bank of Iraq’s media office issued the following statement: “Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, received US Assistant Secretary of the Treasury Elizabeth Rosenberg and her accompanying delegation.”
“During the meeting, bilateral relations were discussed, as well as the measures taken by the Central Bank of Iraq in the field of combating money laundering and terrorist financing,” the statement continued, “in addition to confirming the continued support provided by the US Treasury and joint efforts to enhance transparency and integrity and implement international compliance instructions in the Iraqi banking system.”
“The two parties discussed following up on the outcomes and results of previous meetings between the Central Bank of Iraq on the one hand, and the US Treasury Department and the US Federal Reserve on the other,” he continued, “as well as the possibility of providing technical support in the field of financing foreign trade through solid banking channels with mechanisms that enable the financing of legitimate foreign trade.” In a variety of currencies, including the euro, Chinese yuan, and Emirati dirham, as well as facilitating commercial movement with the Republic of Turkey.
“The US Treasury Department appreciated the Central Bank of Iraq’s efforts and steps in contracting with international auditing companies to ensure the accuracy and transparency of the data,” the statement said.