financial expert Safwan Qusay revealed today, Sunday, that there are new steps via the significant financial institution to enhance transparency and international openness.
Qusay said in a announcement to dinaropinions.com that “the significant financial institution of Iraq and the us Federal Reserve are shifting towards authorizing Iraqi banks to settlement with worldwide auditing corporations, rather than counting on the greenback promoting platform alone, with the purpose of auditing credits and transfers earlier than enforcing them.”
He defined that “this degree is in the interest of the critical bank, as it contributes to warding off the dangers of cash laundering instances and international sanctions,” noting that “this step is a turning point that contributes to drawing a clean map for the work of Iraqi banks on the global level, as they may cope with worldwide correspondents and economic ensures further to instant transfers, which enhances their position in global markets.”
He pointed out that “it’s far possible to rehabilitate banks that are currently going through restrictions, to be able to lead to accomplishing more balance within the trade charge,” indicating that “the critical financial institution attaches unique importance inside the next degree to growing overseas forex reserves, which contributes to facilitating exchange operations and helping economic pastime.”
