CBI finalizes the agreement to boost five Iraqi banks with the UAE dirhams

Economy

18-11-2023, 12:52

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Baghdad-INA

The Central Bank of Iraq-CBI concluded on Saturday, the arrangements for the agreement to strengthen five Iraqi banks with the UAE dirham.

"The Central Bank of Iraq has completed the final arrangements for the agreement with the UAE's First Abu Dhabi Bank, and it is hoped that the actual implementation of the enhancement operations for Iraqi banks' accounts in the UAE dirham will begin during the next week,” a source told the Iraqi News Agency (INA).

The source added, "The first phase of bolstering will include five Iraqi private banks, and it is expected that the number of banks will double after evaluating the first phase of implementation, which may last for a few weeks."