Iraq’s Central Bank is going global.
link to My FX Buddies BlogGovernor Ali Al-Allaq met with Bank of England Governor Andrew Bailey to discuss cooperation on digital currency, currency modernization, and foreign reserve management.
Even more importantly, Iraq called on the Bank of England to support its effort to join the Bank for International Settlements (BIS) — the “central bank of central banks.”
In this episode, we cover:
Why inflation in Iraq is at its lowest in history (under 2%)
What BIS membership is and why it matters
How cooperation with the Bank of England could modernize Iraq’s banking system
The long-term benefits of joining the BIS for Iraq’s financial credibility
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📊 For Iraqi dinar watchers: BIS membership would be a big step toward integrating Iraq’s monetary system into the global financial community — a sign of increasing transparency and stability, which are crucial for future currency confidence.
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