Iraq launches financial transfers in euros

Iraq launches financial transfers in euros

link to My FX Buddies Blog https://www.myfxbuddies.com/2024/10/iraq-launches-financial-transfers-in.html

The Central Bank of Iraq launched its financial transfers to Turkey in the euro currency.

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This was announced during the reception of the Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, the Ambassador of the Republic of Turkey to Iraq, Anil Bora Inan, with a delegation of representatives of Turkish banks operating in Iraq, according to a statement by the Central Bank of Iraq.
The statement indicated that the meeting coincides with the launch of financial transfers to Turkey, according to a new mechanism carried out in the euro currency and implemented within Turkey through its banks. This mechanism, which is being applied for the first time, will simplify trade coverage operations with high fluidity and speed.
The attendees discussed ways to provide the requirements of the new mechanism; in order to make it a success and accommodate the large number of transfers from merchants and the business sector.