Iraq and US agree on bank reintegration

Iraq and the United States have reached an agreement to reintegrate Iraqi banks currently restricted from the global financial system. Banks that meet compliance and governance standards will be able to resume access to international banking channels using currencies other than the US dollar. This step comes following the Iraqi Prime Minister's visit to Washington and his meeting with the American President, aimed at strengthening financial cooperation between the two countries. Financial institutions that meet the criteria will gradually be authorized to regain the right to transact in US dollars. This move is part of efforts to modernize the Iraqi banking sector, enhance its competitiveness, and integrate it into the international financial system, while ongoing assessments and improvements to regulatory oversight will ensure banks adhere to international standards.

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