Iraq and Turkey discuss developing banking and financial relations

Iraq and Turkey discuss developing banking and financial relations

2021-11-27 07:29

Iraq and Turkey discuss developing banking and financial relationsShafaq News/ The Governor of the Central Bank of Iraq, Mustafa Ghaleb Mokhif, discussed on Friday with the head of the Banking Licensing and Supervision Authority in Turkey, Mehmet Akban, the development of banking and financial relations between their two countries.

This came during a meeting between them on the sidelines of the invitation addressed to the Central Bank of Iraq by the Central Bank of Turkey during his official visit to Turkey, accompanied by a number of heads of Iraqi private bank boards.

A statement issued by the Iraqi Central Agency stated to Shafaq News Agency, that “the two parties discussed the importance of joint dealing and exchanging experiences between Iraq and Turkey.”

He stressed the fear of “the need to develop banking relations between Iraqi and Turkish financial institutions, in addition to supporting Iraqi banks wishing to open branches in Turkey in accordance with the principle of reciprocity, as well as motivating the branches of licensed Turkish banks in Iraq to develop their business and presence in the Iraqi market.”

He added that “the Iraqi economy is achieving good growth, according to the indicators issued by international institutions such as the International Monetary Fund and the World Bank, and therefore Iraqi banks have the ability and ability to be present in more than one country, such as Turkey and others.”

He pointed out that “the central bank has worked over the past period to support the economy through banks, and this has helped in the development of Iraqi banks.”

On the sidelines of the meetings, representatives of Iraqi banks met with major Turkish banks and discussed banking relations and future cooperation to serve the two countries, according to the statement.