Iraq News: Central Bank of Iraq Opens Financial Channels with India

We want to keep up with the Central Bank of Iraq's meetings and associations.  The reason is because Iraqi Dinar investors may be able to trade their IQD in certain countries, depending on the relationship that the Central Bank of Iraq has with different countries, including, Jordan, Turkey, Kuwait, Saudi Arabia, Egypt and now India. 

 Mr. Ali Mohsen Al-Alaq, Governor of the Central Bank of Iraq, received Mr. Prashant Besay, Ambassador of the Republic of India to Iraq.

It was discussed during the meeting that Baghdad and Delhi would strengthen their economic and banking relations, as well as opening bank accounts in accredited Indian banks. The two parties discussed the need for external transfer operations to cover Iraq's imports, which amount to about four billion dollars, in order to facilitate and accelerate transfers to Iraqi importers, as well as India's experience with electronic payments and expanding financial inclusion.

The Ambassador expressed the concerned institutions' willingness to provide support and training to Central Bank of Iraq cadres.

As his part, the Governor of the Central Bank of Iraq expressed his congratulations and blessings on the occasion of India's 77th Independence Day, praising its distinguished development journey in all sectors and its advanced economic position.