The Central Bank of Iraq (CBI) has announced that it received praise from the US Treasury and Federal Reserve after their quarterly meetings, which took place in Dubai. The meetings were attended by international auditing and consulting companies and resulted in a positive assessment of CBI’s efforts to reform the banking sector.
Key highlights of the meeting include:
1. The development of a controlled system for distributing US dollars in Iraq, limiting manipulation and smuggling.
2. Improvements in foreign transfer operations, bringing them on par with international banks.
3. Plans to upgrade public and private banking sectors to meet international standards.
The CBI emphasized the importance of adopting official channels to receive accurate information about the sector’s developments, citing concerns over misinformation about Iraqi banks being subject to international sanctions.
Source: https://ina.iq/eng/38355-cbi-details-of-meeting-us-treasury-and-federal-reserve.html