Baghdad – INA
Prime Minister Ali Faleh Al-Zaidi on Saturday announced the qualification of seven Iraqi banks to resume foreign correspondent banking channels.
In a post on X followed by the Iraqi News Agency (INA), Al-Zaidi said: We welcome the understanding reached between the Central Bank of Iraq and the U.S. Department of the Treasury, which marks an important step toward advancing banking sector reform and strengthening its integration into the global financial system.
“The qualification of seven Iraqi banks to resume correspondent banking in foreign currencies, as a step toward restoring their eligibility to conduct transactions in U.S. dollars upon meeting compliance and governance requirements, reflects the success of the government’s financial reform agenda. It also strengthens confidence in Iraq’s banking sector and opens broader prospects for the national economy and investment,” he added.
PM further stated,”We will continue to support financial and banking reforms and consolidate the principles of transparency and governance in a manner that serves Iraq's interests and enhances its regional and international economic standing”.