On Saturday, the Central Bank revealed the results of the discussions of the joint Iraqi delegation in Turkey, indicating that Iraqi merchants will buy goods from Turkey in dinars.
A statement to the bank’s media, a copy of which was received by 964 Network, stated :
The discussions conducted by a joint Iraqi delegation (the government, the Central Bank, the Association of Iraqi Private Banks, and the banking sector represented by a number of private banks) were completed in Istanbul and returned to Baghdad yesterday morning, and the discussions culminated in the following: -.
1- Agreement to make banking arrangements between Iraqi banks and their Turkish counterparts through intermediary banks to ensure trade exchange for major merchants and importers and to make and pay remittances in the euro and Turkish lira currencies.
2- Agreement to organize trade exchange for small merchants and retailers (dinar for euro or Turkish lira) under arrangements with combined transfers according to a commercial organization that ensures the integrated cycle of the commercial process (deposit in dinars inside Iraq, payment in euros or lira in Turkey, shipping goods from Turkey to Iraq) This would facilitate the external transfer of thousands of Iraqi traders and spare them from working through non-fundamental means. This also comes in the context of regulating trade and external transfer in accordance with sound practices and standards and within the framework of the comprehensive plan pursued by the Central Bank to open multiple channels, outlets and currencies with the aim of preserving the stability of the financial system and protecting it. From risks and achieving general price stability by covering imports at the official price, which is confirmed by controlling inflation rates.
