The Central Bank of Iraq (CBE) on Wednesday ordered banks and remittance companies to meet with the contracting authorities for regulatory purposes.
The bank said in a statement that “in order to improve and achieve transparency in the work of Iraqi banks with the advisory bodies and to achieve the interest of the work, when the bank to contract with any outside the bank to provide advisory services to him, the Central Bank is entitled to meet with this external advisory body, Or after the end of the operation. ”
“The objective is regulatory matters for the purposes of discussion and review and identify the points to be highlighted and to see any priorities or reports requested by the bank,” he said, noting that “this comes in accordance with the provisions of Article 53 of the Law of Iraqi banks No. 94 of 2004.