CBI Urges Turkey to Open Accounts for Iraqi Banks

Baghdad - INA

The Governor of the Central Bank, Ali Mohsen Al-Alaq, urged Turkey , on Thursday, to open accounts for Iraqi banks.

The media office of the governor of the Central Bank stated, in a statement received by the Iraqi News Agency (INA), that "the governor of the Central Bank, Ali Mohsen Al-Alaq, met his counterpart, the governor of the Turkish Central Bank, Fatih Karahan, in the city of Istanbul."

He explained that "the two parties discussed the launch of new direct mechanisms for trade transfers between Iraq and Turkey, marking the beginning of a new phase in strengthening banking relations between the two neighboring countries."

During the meeting, the governor stressed "cooperation in the field of settlements for users of Iraqi cards in Turkey, and urging Turkish banks to open accounts for Iraqi banks to expand financing channels for importing goods and services from neighboring Turkey."

He added, "The Turkish Central Bank supports the steps of the Iraqi Central Bank in regulating financial operations between the two countries, which contributes to facilitating commercial transactions."

The statement continued, "In a separate meeting, Governor Ali Mohsen Al-Alaq and his accompanying delegation met with the general administrations of the branches of Turkish banks operating in Iraq," stressing "the need to expand fruitful trade options between the two countries, especially in the banking sector."