On Thursday, an informed source reported that the Central Bank of Iraq is presently unannouncedly visiting the United States of America to discuss developments in the Iraqi financial industry.
Since the 26th of this month, a delegation from the Central Bank of Iraq, led by Governor Ali Al-Alaq and several general managers, has been visiting the United States of America to discuss developments in the banking sector and the limitations on the use of the dollar imposed on a great number of private banks, according the source told Shafaq News Agency.
He noted that the Central Bank delegation talked about depending on correspondent banks instead of cancelling the platform at the start of next year, so imposing more restrictions on Iraqi private banks and totally eradicating competitiveness in favor of Jordanian banks with American correspondent banks.
The source said that the Central Bank is almost signed a contract with Oliver Wyman, the consulting firm for the Iraqi Development Road, to conduct a study on reforming the Iraqi banking sector, so enabling it to be approved by the Central Bank in the next period, and to be regarded as a road map for reforming the private banking sector.
On the other hand, given the significance of the visit of the Central Bank of Iraq to America, many economists were taken aback by its omission of announcement.
