The Governor of the Central Bank of Iraq, Nizar Nasser Hussein, has announced the reintegration of seven Iraqi banks into the global financial system after meeting compliance and governance requirements. The Bank clarified in an official statement that high-level discussions
held in the United States with the Treasury Department resulted in an agreement allowing restricted banks to return to external correspondent banking channels for non-dollar currencies. The Bank affirmed that this step is part of its comprehensive strategy to modernize
the banking sector, enhance its resilience, and integrate it internationally. It also noted that compliant banks will eventually be able to resume transactions in US dollars upon completing all regulatory procedures, maintaining strict oversight of the banking sector.
