Iraq urges Turkiye to open accounts for Iraqi banks to boost trade
Shafaq News/ On Wednesday, the Central Bank of Iraq (CBI) Governor, Ali Mohsen Al-Alaq, urged Turkish banks to open accounts for Iraqi banks to expand financing channels for imports between Iraq and Turkiye.
According to a statement from the CBI, “Al-Alaq and his delegation met with Turkish Central Bank Governor Fatih Karahan in Istanbul to discuss launching new direct mechanisms for commercial transfers between Iraq and Turkiye, initiating a new phase in strengthening banking ties between the two countries.”
The statement quoted Al-Alaq, noting that “the Turkish Central Bank supports the CBI's efforts to organize financial operations between the two countries, facilitating trade transactions, and enabling settlement services for Iraqi cardholders in Turkiye.”
In a separate meeting, Al-Alaq and his delegation met with the general managers of Turkish bank branches operating in Iraq, emphasizing “the importance of broadening productive commercial opportunities, particularly in the banking sector, between the two nations.”
