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Iraqi banks are looking with the US Treasury to open relations with foreign banks Economy News Baghdad: Examined the government and private and foreign banks operating in Iraq with US Treasury officials in the Iraqi private banks association headquarters open relations with foreign banks, particularly US banks. The Iraqi Association of private banks in a press release received "Economy News" copy of it, "we organized a panel discussion in the presence of a representative of the Central Bank Mazen morning and the representative of the Union of Arab Banks Khawla al-Asadi and a member of the Committee on Economy Parliamentary Mahdi Al-Hafiz and managers of private and government banks and heads of branches of Arab and foreign banks operating in Iraq with the Minister Plenipotentiary for economic Affairs at the US embassy Larry Mimut and the representative of the US Treasury in Iraq. " She added that "dialogue session aimed at opening a new page of relations with foreign and specifically with US banks banks", indicating that "the committee formed under the chairmanship of the Central Bank of Mazen morning, and it was agreed to form a delegation comprising government and private banks to visit the United States and establish strong relationships with correspondent banks US specifically. " She noted that "the Arab American banking conference will be held in New York on the sixteenth of the month of October next and Iraq will participate with a delegation senior banker," pointing out that "there is great confidence got between the Iraqi Association of private banks and the US Treasury." On the other hand, Minister Plenipotentiary for Economic Affairs at the US embassy Larry Mimut said, during the meeting, "seen on the activities carried out by the Iraqi Association of private banks, including charity and human capacity development working in the banking sector through training, specifically in the fight against money laundering and terrorism financing file." He pointed out that "the banking sector and one of the main reasons for the development of the Iraqi economy, and we will work with those who support it to develop and encourage Iraqi banks to open relations with the US private banks association." He called Mimut private banks to "the need to find new ways to lend to small businesses because it contributes to the development of the relationship between banks and foreign companies that will lead to the development of relations with foreign banks," pointing out that "the US government can not impose anything on the private banks." Meanwhile, the Central Bank representative at the meeting, Mazen morning, that "Iraq is committed to international standards, specifically in the areas of anti-money laundering and risk management, insurance and international accounting and that there is tightening from the central bank on the necessity of operating banks in Iraq to comply with these standards, especially after the issuance of classification of banks said" noting that "Iraq draws during the current phase of opening relations with the Arab and foreign banks, and we started to form a committee in this matter." On the other hand, he said the representative of the Union of Arab Banks, Chairman of the Rafidain Bank, Khawla al-Asadi, said that "the new Iraq classification is located in the follow-up area after leaving the gray area," noting that "Iraq's progress is very large in the fight against money laundering." She stressed that "Arab financial reports indicate Iraq for advanced classification of the Arab world, and we are working to develop the relationship with foreign correspondent banks." In turn, the Chairman of the International Development Bank Management, Ziad Khalaf, in an intervention during the meeting, said that "there are many Iraqi private banks are ready and in compliance with international standards and is fully prepared to open accounts with banks and foreign correspondent because of its cadre of outstanding policies and procedures are subject to global standards In addition to the integrated services. " While, questioned Chairman of the South Bank of the Ali al-Zaidi, is the problem of opening bank accounts in international banks lies Iraqi banks or foreign banks, and specifically the US. In the meantime, the Bank of Baghdad director of the Commissioner, on behalf of Aldahi spoke, "The government banks acquires banking business in Iraq because of government policies supported by the banking sector account." Views 27 Date Added 07/19/2017