Federal Reserve Praises Development of US Dollar Cash Distribution System in Iraq
Federal Reserve Praises Development of US Dollar Cash Distribution System in Iraq
2-16-2025
Al-Maalouma/Baghdad..
The Central Bank announced, today, Sunday, the details of its meetings with the US Treasury and the US Federal Reserve.
The Central Bank stated in a statement received by / Al-Maalouma / agency, that “the first quarterly meetings for the year 2025 with the US Treasury and the US Federal Reserve, which were held in Dubai with the participation of international auditing and consulting firms (EY, K2 Integrity, Oliver Wyman), ended and the meetings were crowned with praise for the steps taken by the Central Bank of Iraq and the Iraqi government to reform the banking sector.”
He added that “the most important steps that have been taken are the development of the cash distribution system for the US dollar in Iraq, which they considered the most controlled and controlled system in the world, which limits manipulation and smuggling of the US dollar.”
The Central Bank explained that “the consulting firms (EY and Oliver Wyman) reviewed the plans to reform the public and private banking sector and upgrade it in line with international standards and to facilitate the involvement of Iraqi banks in the international financial relations network. The
Central Bank stressed, according to the statement, “the need to ensure the adoption of the official channels of this bank to know the latest news and not to transmit incorrect news such as the exposure of some Iraqi banks to international sanctions and others, because the operations carried out by banks operating in Iraq depend largely on the confidence of international correspondent banks in the Iraqi banking sector.”
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