With tens of millions of euros…the Central Bank begins covering retailers’ imports from Turkey

The Central Bank of Iraq began covering retailers’ imports from Turkey with tens of millions of euros as an initial payment, in implementation of the banking arrangements agreement concluded with Turkey last week.
A government source told Al-Sumaria News, “In implementation of the banking arrangements agreement that was concluded with…TürkiyeLast week, it startedCentral Bank of IraqSince Sunday 12/3/2023, covering imports from retailersTürkiyeIn tens of millions of euros as an initial payment, through Iraqi merchants paying in Iraqi dinars and the Central Bank strengthening them in euros to settle with Turkish merchants in Turkish lira.

Earlier, he revealedCentral Bank of IraqAbout the discussions held by the joint Iraqi delegation inTürkiye. A statement from the bank 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 inIstanbulAnd he returned toBaghdadOn Friday.”

He added, “It was agreed 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 transfers in the euro and Turkish lira currencies.”