Iraqi PM Hails Banking Reform Deal with U.S. Treasury as Major Step Towards Global Integration

Iraqi PM's Media Office

Iraqi Prime Minister Ali al-Zaidi.

Iraqi Prime Minister Ali al-Zaidi has welcomed the recent agreements between the Central Bank of Iraq and the U.S. Treasury Department, describing them as a significant milestone in reforming the country's banking sector and deepening its integration into the global financial system.

In a post on X, al-Zaidi said the qualification of seven Iraqi banks to rejoin international correspondent banking networks represented a major achievement for Iraq's financial reform programme.

He noted that the move will allow the banks to resume transactions in other foreign currencies before ultimately regaining full eligibility to conduct business in U.S. dollars, once they have met all required compliance and governance standards.

According to the Prime Minister, the development demonstrates the success of the Iraqi government's financial reform strategy and its efforts to modernise the country's banking sector in line with international standards.

Al-Zaidi said the agreements would strengthen confidence in Iraq's domestic banking system while creating broader opportunities to support economic growth and attract foreign investment.

He reaffirmed the government's commitment to advancing financial and banking reforms, emphasising the importance of transparency, good governance and regulatory compliance in safeguarding Iraq's interests and enhancing its economic standing at both the regional and international levels.



PUKMEDIA