Iraq agrees to open 4 Jordanian banks and conduct business in Baghdad

[rtl]Baghdad - Iraq today:[/rtl]
[rtl]Governor of the Central Bank of Jordan, Adel Al-Sharkas, said that there are currently four branches of Jordanian banks that have obtained a license to operate in Iraq, with a capital of $50 million for each branch, including two branches that have already begun. Their work in Iraq.

The Governor of the Central Bank of Jordan, Adel Al-Sharkas, received the Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, and his accompanying delegation. During the meeting, which brought them together at the Central Bank of Jordan, they discussed ways to enhance cooperation and improve banking and financial relations between the two countries, in addition to a number of banking issues of common interest.

The two sides also discussed developments related to the tasks and work of central banks, and developments related to global monetary policies and their directions in light of the current stage that is still witnessing inflationary pressures that have led to the continuation of tight monetary policies by many central banks in the world. 

During the meeting, the two sides focused on the importance of joint work and cooperation in the financial and banking sector in a way that serves the trend towards expanding the horizons of economic cooperation between Jordan and Iraq.

On the sideslines of the meeting, the two sides signed a joint cooperation and coordination agreement with the aim of enhancing and expanding cooperation in the financial and banking fields.

The new agreement frames mechanisms for enhancing cooperation and exchanging information and expertise in many fields, including supervision and control of electronic payment systems and services, modern financial technology (fintech) and innovation, cybersecurity, combating money laundering and terrorist financing, exchanging skills and training employees of both parties, in addition to Existing cooperation at the level of banking and banking supervision. The Circassians also confirmed the full readiness of the Central Bank of Jordan to cooperate with the Central Bank of Iraq in matters related to new developments in the financial, banking and supervisory fields.

For his part, the Circassians stressed the importance of signing this agreement at this time, when economic relations between the two countries are witnessing continuous progress, noting that financial and banking cooperation is an important pillar in developing this relationship.

He noted the Central Bank of Jordan's keenness to enhance financial and banking cooperation and coordination with the Central Bank of Iraq, especially through this agreement, which aims to expand joint cooperation and which was framed by the memorandum of understanding signed between them in the field of banking and banking supervision in 2015. The Circassians pointed out that there is a common interest and desire 

. Jordanian banks have a strong presence in the Iraqi market. There are currently four branches of Jordanian banks that have obtained a license to operate in Iraq with a capital of $50 million for each branch, including two branches that have already begun their work in Iraq. 



For his part, Al-Alaq said that the Central Bank of Iraq seeks to strengthen and establish strong banking relations with the Central Bank of Jordan, noting that the signing of the cooperation agreement today confirms the keenness of both sides to push this distinguished relationship forward . 

Al-Alaq pointed out the Central Bank of Iraq's keenness to benefit from Jordanian experience in the fields of digitization, financial innovations, and payment systems.

It is noteworthy that the Governor of the Central Bank of Iraq heads a delegation that includes a number of senior employees of the Central Bank of Iraq and Iraqi bankers. Today, he began a two-day visit to the Kingdom of Jordan, during which he will hold meetings with the Governor of the Central Bank of Jordan and a number of banking, financial and economic leaders in the Kingdom and institutions regulating electronic payment. 

The visit will also include a Jordanian-Iraqi banking summit organized by the Association of Banks in Jordan, with the participation of the Governor of the Central Bank of Jordan and the Governor of the Central Bank of Iraq to discuss economic relations between the two countries and Ways to strengthen them in the future.[/rtl]
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