2024-03-09T07:56:56+00:00
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/ The top of the Joint Iranian-Iraqi Chamber of Commerce, Yahya Al-Ishaq, confirmed that banking interactions and actions between his nation and Iraq have declined as a result of American sanctions imposed on Tehran, in accordance with what was revealed by Mehr Company on Saturday.
Concerning the cessation of the suspension of the exercise of the Nationwide Financial institution of Iran in Iraq by the Central Financial institution of Iraq, Al-Ishaq stated in a press interview, “A number of Iranian banks had licenses to function in Iraq, however because of monetary issues and American sanctions, the exercise of those banks in Iraq decreased, and the Central Financial institution of Iraq proposed Suspension of his exercise.
He added, “However the Central Financial institution of Iraq just lately introduced that the exercise of the Nationwide Financial institution of Iran in Iraq will proceed,” including: “We’re searching for to create circumstances for the continuation of the exercise of the Nationwide Financial institution in Iraq whereas growing the quantity of actions, and this may be achieved by way of cooperation and settlement between the Central Financial institution of Iran and the financial institution.” Iraqi Central Financial institution.
The top of the Iran-Iraq Joint Chamber of Commerce confirmed, saying: “Subsequently, the measures associated to suspending the exercise of the Nationwide Financial institution of Iran in Iraq have been canceled primarily based on the announcement of the Central Financial institution of Iraq.”
Al-Ishaq identified that the quantity of commerce relations between Iran and Iraq at the moment quantities to about 10 billion {dollars}, and stated: “On this foundation, banking interactions and actions between Iran and Iraq can improve considerably, however as a result of difficulty of sanctions and the US greenback, these interactions have change into barely restricted.” He added, “Iran and Iraq are concerned about additional growing financial, banking, and commerce relations between them, and for this to be achieved, the 2 sides should work to create an acceptable setting to strengthen relations.”
The top of the Iranian-Iraqi Chamber of Commerce continued by saying that “the work or non-work of Iranian banks in Iraq doesn’t have a major affect on the present commerce relations between the 2 nations, however increasing the scope of the banks’ work could possibly be helpful,” stressing that “the quantity of commerce exchanges between Iran and Iraq is about $10 billion, as the majority of those exchanges are carried out by the non-public sector, and there are at the moment no issues on this sector.”