Al-Alaq: 20 Iraqi banks practice direct transfer operations
The Governor of the Central Bank, Ali Al-Alaq, confirmed today, Tuesday, that there are 20 Iraqi banks practicing direct transfer operations in 8 foreign currencies.
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Al-Alaq said, according to the official agency, that "the recent quarterly meetings with the US Federal Reserve and the Treasury Department, which were held in Dubai, were very positive, as the steps taken by the Central Bank to improve the foreign transfer system and convert operations to international practices in a safe, transparent and highly organized manner were praised." Al-Alaq pointed out that "this transformation is the first of its kind in Iraq, which witnessed transitional stages from (the window) to (the platform) and then to correspondent banks."