The Central Bank of Iraq reveals the mechanism for ending the electronic platform
- Author
- Tish Washington
- Published
- Wed 04 Sep 2024
- Episode Link
- https://podcasters.spotify.com/pod/show/tish-washington8/episodes/The-Central-Bank-of-Iraq-reveals-the-mechanism-for-ending-the-electronic-platform-e2o0n0t
The Central Bank of Iraq reveals the mechanism for ending the electronic platform
link to My FX Buddies Blog
he bank said in a statement received by "Baghdad Today", that "the electronic platform for foreign transfers managed by the Central Bank of Iraq began at the beginning of 2023 as a first stage to reorganize financial transfers in a way that ensures proactive oversight of them instead of subsequent oversight by the Federal Reserve auditing daily transfers, and this was an exceptional procedure as the Federal Reserve does not usually do this, and a gradual shift was planned towards building direct relationships between banks in Iraq and foreign correspondent and approved banks, mediated by an international auditing company to conduct a pre-audit of transfers before they are executed by correspondent banks."
