Al-Alaq: The Central Bank has taken a package of measures to reform the banking sector

Baghdad-INA 

Central Bank Governor Ali Mohsen Ismail Al-Alaq confirmed today, Friday, that the Central Bank has taken a package of measures to reform the Iraqi banking sector and develop its work in line with international standards.

A bank statement received by the Iraqi News Agency (INA) said: "The Governor of the Central Bank of Iraq, Ali Mohsen Ismail Al-Alaq, met with the Executive Director of the International Monetary Fund, Mahmoud Mohieldin, on the sidelines of his visit to Washington, DC.".

The statement added, "During the meeting, aspects of bilateral cooperation were discussed in a way that serves the interest of the Iraqi economy and monetary policy, as well as ways to develop the Iraqi banking sector.".

Al-Alaq confirmed, according to the statement, that "the Central Bank of Iraq has taken a package of measures to reform the Iraqi banking sector and develop its work in line with international standards, which will reflect positively on Iraq's international trade and the national economy.".

He added, "The Central Bank continues its measures in combating money laundering and terrorist financing, by taking a set of decisions that support these measures, which reflected positively on Iraq's ratings in this field.".

In turn, the Executive Director of the International Monetary Fund, Mahmoud Mohieldin, confirmed that "the International Monetary Fund continues to provide technical support to the Central Bank of Iraq in various fields.".

The statement concluded, "The central bank governor is currently visiting Washington, including an official government delegation, to start official talks with the US Federal Bank."