CBI: Agreeing to facilitate payments to China to finance private sector imports

 
Baghdad-INA
 
The Central Bank of Iraq-CBI confirmed on Saturday, the agreement to facilitate payments to China to finance private sector imports.
 
A statement by CBI media office, received by the Iraqi News Agency (INA), stated that "The Governor of the Central Bank of Iraq, Ali Mohsen Ismail Al-Alaq, met with Daniel Zeliko, Vice Chairman of the Governing Board at J.P. Morgan Development Finance Institution, on the sidelines of his visit to Washington."
 
The statement added, "During the meeting, it was agreed that JP Morgan Bank would facilitate payments from the Iraqi banking system to the People's Republic of China to finance private sector imports directly."
 
"A number of issues related to reserves management, liquidity management and technical support provided by the JP Morgan Bank to CBI and the banking sector in Iraq were also discussed,” the statement added.
 
Al-Alaq indicated, according to the statement, that "the Central Bank of Iraq is committed to applying international standards in combating money laundering and financing terrorism," stressing, "strengthening the relations of CBI with its counterparts in the countries of the world to serve the work of the Iraqi banking sector and its development."