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A meeting between the Iraqi Central Bank and the Bank for International Settlements

On Saturday, the Central Bank of Iraq held a remote meeting with the Bank for International Settlements (BIS) to discuss prospects for joint cooperation and investment mechanisms between the two parties.

A statement of the Central Bank, which “Nass” received a copy of (November 21, 2020), stated that “the two parties agreed on the contribution of the Bank for International Settlements to enhance the capabilities of the Central Bank of Iraq and increase investment opportunities in foreign reserves.”

The statement indicated that “the Bank for International Settlements is an international institution that provides services to central banks that seek to enhance global monetary and financial stability, through its activities in achieving a balance of priorities of strategic importance for central banks in managing reserves, and ensuring a good understanding of cash liquidity management and diversification.” With the aim of obtaining good returns to meet their needs, as well as providing credit intermediation services, gold, foreign exchange and asset management, including the function of integrated financial and operational risk management and properly controlling them. Source