US Treasury: We pay attention to the development of the private banking sector in Iraq

US Treasury: We pay attention to the development of the private banking sector in Iraq

2017-10-20 at 13:04 (Baghdad time)



Baghdad Mawazine News
The US Treasury announced on Friday that it attaches great importance to the development of the private banking sector in Iraq, indicating that it is optimistic about the opening of relations between Iraqi banks and US banks.
"The Iraqi banking delegation visiting the United States of Americaheld a meeting with the US Treasury in Washington in the presence of Marshall Blanczelya Secretary of the Treasury for the financing of terrorism and financial crimes," the Association of Iraqi Private Banks said in a press release.
"The Treasury attaches great importance to the Iraqi private banking sector and aspires to have a bigger role in the near future," the statement quoted Blanczalya as saying.
He added that he was "optimistic about the opening of relations between Iraqi banks and US banks and that the treasury did not draw red lines on these transactions."
On the other hand, said the Executive Director of the Association of Iraqi private banks, Ali Tariq, during the meeting, "Iraqi banks have greater confidence in the current stage of openness to the world as a result of the recent implementation of the directives of the Central Bank of Iraq on anti-money laundering and compliance and risk management."
He added that "the position of Iraq in general improvement continues, especially after the end of the war on terrorism and the legislation of the law against money laundering and financing of terrorism."
A delegation of Iraqi banks to visit Washington to hold a series of meetings that will develop aspects of dealing between Iraqi and US banks.

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