By John Lee.
Central Bank of Iraq (CBI) Governor Ali Mohsen Al-Alaq has met with Bank of England Governor Andrew Bailey in London to discuss strengthening cooperation between the two institutions.
Talks focused on digital transformation, lessons from the Bank of England's recent banknote modernisation, and studies on digital currencies. Al-Alaq also highlighted Iraq's monetary policy achievements, noting that inflation is currently at historic lows of below 2 percent.
The two sides reviewed collaboration on the management of foreign currency reserves, as the CBI holds part of its reserves with the Bank of England. Al-Alaq further invited Bailey to support Iraq's efforts to join the Bank for International Settlements (BIS), of which the Bank of England is a board member.
(Source: CBI)
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