By John Lee.
The Central Bank of Iraq (CBI) Governor, Ali Mohsen Al-Allaq, met in Baghdad with the Representative of Institutional Clients and International Transaction Banking at Germany's Commerzbank, to explore avenues for strengthening bilateral financial cooperation.
Discussions focused on expanding banking relations between Iraqi banks and Commerzbank to support economic activity and deepen financial ties between Iraq and Germany. Both sides emphasised the importance of technical expertise exchange and developing collaboration in areas such as trade finance, international payments, and correspondent banking-key steps toward improving the efficiency of Iraq's financial system and its integration with the European banking sector.
The meeting concluded with a reaffirmation of the two institutions' commitment to continued coordination and consultation, aimed at reinforcing Iraq's global financial standing and enhancing its external banking relations in line with international standards.
(Source: CBI)
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