Iranian, Iraqi central banks to form joint committee

Iranian Minister of Industries, Mining and Trade Mohammad Shariatmadari, in line with his earlier talks with a number of senior Iraqi officials, attended a meeting with Ali Mohsen Al-Allaq, Governor of Central Bank of Iraq.

The session aimed at facilitation of trade transactions between the two countries and agreed that a joint commission be formed between central banks of Iran and Iraq in order to fully implement existing financial agreements.

Following this meeting, Mohammad Shariatmadari, assessed the talks with the Iraqi side as positive and reported on the agreement to fully implement existing agreements between the two countries in the field of finance.

 “The Iraqi side presented good proposals in the framework of international law, and we hope the visit will be a good source for development of relations between the two sides,” he added.

Chairman of Central Bank of Iraq also recounted on the meeting stating “given the widespread nature of business relations, we need to continually hold meetings on issues related to bilateral agreements and facilitate business relations between Tehran and Baghdad.”

Al-Allaq went on to stress that “within the same framework, we have also held meetings with the Central Bank of Iran, and inked a Memorandum of Understanding (MoU).”

 “At the meeting with Shariatmadari, it was agreed that the joint committee of central banks of the two countries should be formed as soon as possible,” he concluded.

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