By John Lee.
The Governor of the Central Bank of Iraq (CBI), Ali Mohsen Al-Alaq, met with Turkish Ambassador Anil Bora Inan and representatives of Turkish banks operating in Iraq to discuss a newly implemented financial transfer mechanism.
The new system, which operates in euros and is executed through Turkish banks, aims to streamline and expedite trade-related transactions. Turkish banks expressed readiness to comply with the new system and collaborate with international auditing firms to meet regulatory requirements.
Ambassador Inan commended the Central Bank's efforts in managing the shift and facilitating cross-border financial transactions through enhanced coordination.
(Source: CBI)
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