The Iraqi Central Bank is moving to open new channels for external transfer

Shafaq News / The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, noted, on Sunday, the possibility of opening new channels for external transfer of hard currency, and raising the rate of daily transfers.

This came during the periodic meeting of governmental and private banks, which was held in Baghdad, according to a statement received by Shafaq News Agency, and witnessed a discussion of a number of projects that are consistent with the requirements of the economic reality in Iraq.

Al-Alaq stressed that these projects establish a qualitative shift in the Iraqi economy and enhance its stability, revealing at the same time the project to establish a Riyada Bank, and the project to establish a loan guarantee company that facilitates the lending process for medium, small and micro enterprises.

He referred to the direction of the Central Bank of Iraq, in cooperation with the government and the contribution of the financial, banking and business sectors, to establish a “city of financial and business center in Iraq.”

Al-Alaq participated in the discussions put forward by a group of banks regarding the Central Bank’s initiatives, the relationship between banking institutions and customers, and what is related to developing mechanisms for entering the electronic platform for selling foreign currency.

Shafaq.com