Home
An economist talks about new measures after stopping transfers
economy | 10:14 - 09/03/2024
Mawazine News _ Baghdad
Economic expert Osama Al-Tamimi said:
“The statements and interviews conducted by the Governor of the Central Bank of Iraq, Ali Al-Alaq, in New York over a period of three days with US Treasury officials gave a new impetus and confidence to the Iraqi banking system.”
According to his speech to Mawazine News Agency, Al-Tamimi described the advanced steps to join the global banking system in terms of expanding experience and international banking relations, which will increase knowledge in control procedures for foreign transfers and direct sales of the dollar. The economic expert explained:
“This will lead to the development of systems in line with international and local standards and the development of a system for covering foreign trade and protecting the banking and financial sector from money laundering and terrorist financing operations.” He went on to say:
“The Central Bank of Iraq will stop dealings in the future with foreign correspondent banks and reduce reliance on them, after developing the network of Iraqi banking relationships, gaining the necessary experience, reducing commissions generated as a result of external coverage transactions, and terminating the work.”
Gradually using the electronic platform for transfers and replacing them with direct banking relationships between Iraqi banks and the network of international correspondent banks, as well as achieving stability in the exchange rate in the local market.
https://www.mawazin.net/Details.aspx?jimare=254412
economy | 10:14 - 09/03/2024
Mawazine News _ Baghdad
Economic expert Osama Al-Tamimi said:
“The statements and interviews conducted by the Governor of the Central Bank of Iraq, Ali Al-Alaq, in New York over a period of three days with US Treasury officials gave a new impetus and confidence to the Iraqi banking system.”
According to his speech to Mawazine News Agency, Al-Tamimi described the advanced steps to join the global banking system in terms of expanding experience and international banking relations, which will increase knowledge in control procedures for foreign transfers and direct sales of the dollar. The economic expert explained:
“This will lead to the development of systems in line with international and local standards and the development of a system for covering foreign trade and protecting the banking and financial sector from money laundering and terrorist financing operations.” He went on to say:
“The Central Bank of Iraq will stop dealings in the future with foreign correspondent banks and reduce reliance on them, after developing the network of Iraqi banking relationships, gaining the necessary experience, reducing commissions generated as a result of external coverage transactions, and terminating the work.”
Gradually using the electronic platform for transfers and replacing them with direct banking relationships between Iraqi banks and the network of international correspondent banks, as well as achieving stability in the exchange rate in the local market.
https://www.mawazin.net/Details.aspx?jimare=254412
