The Central Bank of Iraq (CBI) is planning new initiatives aimed at expanding the role of money exchange companies and creating additional business opportunities for the sector.
CBI Governor Nizar Nasser Hussein recently met with directors and board chairpersons of several money exchange companies to discuss ways to strengthen the industry and increase its contribution to Iraq’s economy.
During the meeting, Hussein said the Central Bank is preparing a number of new initiatives that will allow exchange companies to broaden their activities and explore new sources of revenue.
He also emphasized the importance of improving compliance, governance, and operational standards across the sector. According to Hussein, future developments will be aligned with international best practices to help strengthen confidence in Iraq’s financial system.
The planned measures are part of the Central Bank’s wider efforts to modernize the financial sector, improve efficiency, and support economic growth by creating a stronger and more competitive exchange market.
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