Prime Minister Muhammad Shiaa Al-Sudani confirmed that the government has taken several measures with the Central Bank to implement financial reform.
A statement by Al-Sudani's media office said, "Prime Minister Muhammad Al-Sudani met in New York, after midnight (Baghdad time), with the Under Secretary of the US Treasury, Brian Nelson, on the sidelines of his participation in the meetings of the United Nations General Assembly at its seventy-eighth session."
It added, "The meeting witnessed a discussion of cooperation mechanisms between Iraq and the US Department of the Treasury, and a review of the government's priorities in implementing economic and administrative reforms that fall within the government program."
The Prime Minister confirmed, according to the statement, that “the government has taken several measures with the Central Bank of Iraq in implementing financial reform, which is considered a key to economic reform in achieving the government’s goal of moving from a unilateral economy towards a productive and multi-economic economy, where, for the first time, a finance database was created for banking transactions, in order to achieve the required confidence in transactions with banks and international banks.”
Al-Sudani pointed out “the expansion of the government’s work in reducing money laundering operations at the procedural and judicial levels, by applying the required international standards, and enabling it to achieve real trade that supports the economy towards further development,” noting that “the government supports the private sector through a package of decisions and procedures, In addition to providing it all the necessary facilities in the federal budget for the three years.”
For his part, the Undersecretary of the US Treasury praised the government reforms in the banking and financial sectors, and the government’s success in restoring the confidence of global financial institutions, such as Citibank and J.P. Morgan, stressing the US Treasury's readiness to work closely with the Central Bank of Iraq and cooperate with Iraq in the files of financial liquidity and Iraqi commercial bank transfers outside the country, and renewed his country's support for the stability of the Iraqi economy.
Source: National Iraqi News Agency