Baghdad: Prime Minister Ali al-Zaidi has expressed his approval of the newly established agreement between the Central Bank of Iraq and the US Treasury Department, marking a significant advancement in the efforts to reform Iraq’s banking sector and enhance its integration with the global financial community.

According to National Iraqi News Agency, al-Zaidi highlighted in a post on the X website the achievement of seven Iraqi banks in qualifying to rejoin foreign correspondent banking channels using other currencies. This move is seen as a precursor to regaining their ability to deal in US dollars, contingent upon fulfilling compliance and governance criteria. Al-Zaidi emphasized that this development is a testament to the successful financial reform strategy pursued by the Iraqi government. It also boosts confidence in the Iraqi banking system and paves the way for expansive opportunities in the national economy and investment landscape.

Al-Zaidi further committed to continuing support for financial and banking reforms, focusing on consolidating transparency and governance principles. This commitment aims to serve Iraq’s national interests and enhance the country’s economic stature on both regional and international platforms.