The Central Bank and its Turkish counterpart discuss the launch of new direct mechanisms for trade transfers between the two countries

The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, and the accompanying delegation met with his counterpart, the Governor of the Central Bank of Turkey, Fatih Karahan, in Istanbul.

According to a statement by the Central Bank of Iraq, the two parties discussed “the launch of new direct mechanisms for trade transfers between Iraq and Turkey, marking the beginning of a new phase in strengthening banking relations between the two neighboring countries.”
During the meeting, Al-Alaq stressed cooperation in the field of settlements for users of Iraqi cards in Turkey, and urged Turkish banks to open accounts for Iraqi banks to expand financing channels for importing goods and services from neighboring Turkey.
He added that the Turkish Central Bank supports the steps of the Central Bank of Iraq in organizing financial operations between the two countries in a way that contributes to facilitating trade transactions.
In a separate meeting, His Excellency the Governor Ali Mohsen Al-Alaq and his accompanying delegation met with the general administrations of branches of Turkish banks operating in Iraq, stressing the need to expand fruitful trade options between the two countries, especially in the banking sector.

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