Al-Zaidi: Baghdad and Washington to rehabilitate 7 banks

Iraqi Prime Minister Ali Falah Zaidy welcomed the understanding with the U.S. Federal Reserve, which allowed seven Iraqi banks to resume correspondence banking relationships internationally. This move enhances the stability of the Iraqi currency, facilitates foreign trade financing, and attracts foreign investments. This step is part of the outcomes of Zaidy's visit to Washington, during which 48 agreements and understandings were signed between Iraq and the United States. These include agreements in the oil and gas sector, a visit by a high-level government delegation, and the announcement of a JPMorgan Chase branch opening in Iraq. These initiatives are considered part of the financial reform efforts aimed at boosting confidence in the Iraqi banking system and supporting the national economy.

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