Iraq announces the launch of financial transfers to Türkiye in euros

Shafaq News / The Central Bank of Iraq launched its financial transfers to Türkiye in Euro.

This was announced during the reception of the Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, the Ambassador of the Republic of Turkey to Iraq, Anil Bora Inan, with a delegation of representatives of Turkish banks operating in Iraq, according to a statement by the Central Bank of Iraq.

The statement indicated that the meeting coincides with the launch of financial transfers to Turkey, according to a new mechanism carried out in the euro currency and implemented within Turkey through its banks. This mechanism, which is being applied for the first time, will simplify trade coverage operations with high fluidity and speed.

The attendees discussed ways to provide the requirements of the new mechanism in order to make it successful and accommodate the large number of remittances from merchants and the business sector.

The statement pointed out that the bank representatives expressed their readiness to implement the new mechanism and provide the regulatory and supervisory requirements in coordination with the international auditing company. They also explained their efforts in the context of expanding their channels with approved correspondent banks.

For his part, the Turkish ambassador praised the efforts of the Central Bank in managing the process of transformation in external transfers, and the measures taken by the bank to organize and facilitate the transformation processes, praising his meeting with the Governor of the Central Bank of Iraq and the continuous and direct coordination between the Central Bank’s management and authorized banks, according to the statement.

Shafaq.com