Baghdad: An Iranian official revealed that the recent visit of the Governor of the Central Bank of Iran, Abdolnasser Hemmati, to Baghdad focused on collecting Iran’s outstanding receivables from Iraq, amounting to $12 billion.

According to National Iraqi News Agency, the visit centered primarily on mechanisms for collecting these receivables and facilitating access to financial resources. The Tasnim News Agency quoted the Iranian official as saying, “A significant portion of the Central Bank Governor’s discussions was dedicated to addressing the issue of Iranian receivables and ways to facilitate access to accumulated foreign currency reserves in Iraq, as well as expediting the removal of banking obstacles and activating the necessary mechanisms to utilize these Iranian funds.”

He indicated that “a range of practical solutions and mechanisms were reviewed to resolve this issue and facilitate access to these funds for Iranian economic actors and traders,” noting that “the total amount of Iranian receivables from Iraq currently stands at approximately $12 billion.” He clarified that “this figure is not fixed but fluctuates according to the volume of trade and the flow of financial payments at different times.”

During the meeting, Hemmati emphasized the importance of strengthening monetary and banking cooperation, affirming the serious commitment of both sides to urgently overcome current obstacles. According to Tasnim News Agency, the Governor of the Central Bank of Iran pointed to the necessity of settling his country’s outstanding financial dues from the Iraqi government, particularly by providing the necessary banking mechanisms to utilize the Central Bank of Iran’s funds held within the Iraqi banking system. He called for continuous follow-up on the implementation of banking solutions that would expedite these transactions.

Regarding trade, the head of the joint chamber noted that “the volume of trade between the two countries is witnessing steady growth,” and that “bilateral trade, excluding energy, oil, and gas exchanges, has recorded growth of nearly 15% this year.” He emphasized that “given the potential and capabilities available to both sides, there is a realistic opportunity to raise the trade volume to approximately $20 billion.”