06 February 2019 - 15:34

Iran, Iraq Ink Payment Mechanism Agreement

Governors of central banks of Iran and Iraq signed a payment mechanism agreement in Baghdad last night.
News ID : 96844

Abdolnaser Hemmati in his meeting with Ali Alalaq, Governor of Iraq Central Bank, expressed his hope to improve two countries' financial relations levels, adding Iraq is the Islamic Republic of Iran's biggest trade partner and also the sustainability of this relation between two nations is interwoven with banking relation.

He went on to say that the Central Bank of Iran has achieved appropriate financial policies for transactions with Russia, Turkey, India, China and other countries. Hemmati mentioned that at present I'm sure in cooperation with Iraq government and also by pursuing economic ties as soon as possible and establishing a financial payment channel we will gain ideal results.

Ali Alalaq, in his side, welcomed Hemmati, saying this meeting is in line with two countries' financial agreements, calling it as a path for strengthening Iran and Iraq's economic collaboration. The official said Iraq central bank does its best to remove two countries' all economic cooperation barriers.

According to the deals were done, Iraq's debts to Iran over gas and electricity imports will be paid or transferred by Central Bank of Iran's payment order, plus future exports revenues will be used within this framework.

It is worth mentioning that at the meeting an agreement was made regarding the way of transferring foreign exchange of Iranian exporters of private sector to Iran. It is expected that by finalizing the deal the problem of sending back of exporters' foreign currency revenues to the country will be removed. 

Send Comment