The US Treasury announced on Friday that it is paying great attention to the development of the private banking sector in Iraq, indicating that it is optimistic about the opening of relations between Iraqi banks and US banks.
“The Iraqi banking delegation visiting the United States of America held a meeting with the US Treasury in Washington in the presence of Marshall Blanczelya Secretary of Treasury for the financing of terrorism and financial crimes,” the Association of Iraqi Private Banks said in a press statement.
“Treasury attaches great importance to the Iraqi private banking sector and aspires to have a bigger role in the near future,” the statement quoted Blanczelya as saying.
He added that he was “optimistic about the opening of relations between Iraqi banks and US banks and that the treasury did not draw red lines on these transactions.”
On the other hand, said the Executive Director of the Association of Iraqi private banks, Ali Tariq, during the meeting, “Iraqi banks have greater confidence in the current stage of openness to the world as a result of recent implementation of the directives of the Central Bank of Iraq on combating money laundering and compliance and risk management.
He added that “the position of Iraq in general improvement continues, especially after the end of the war on terrorism and the legislation of the law against money laundering and financing of terrorism.”
A delegation of Iraqi banks is visiting Washington to hold a series of meetings that will develop aspects of dealing between Iraqi and US banks.