Amman – Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, held a meeting with Jordan’s Prime Minister Bishr Khasawneh on Sunday to discuss expanding collaboration between the two countries, particularly in the economic and banking sectors.
The meeting took place in Amman, Jordan, and aimed to strengthen bilateral ties and explore opportunities for cooperation.
Prime Minister Khasawneh expressed his commitment to enhancing collaboration between Jordan and Iraq. He highlighted the agreements made during his visit to Baghdad in July, where the two countries pledged to strengthen cooperation in various fields. This collaboration would be pursued through bilateral efforts as well as the tripartite cooperation mechanism involving Jordan, Iraq, and Egypt.
In addition to the meeting with Prime Minister Khasawneh, Governor Al-Alaq also held discussions with his Jordanian counterpart, Adel Sharkas. The two central bank governors addressed banking issues of mutual interest and examined global monetary policies and inflationary pressures. They also discussed developments in central bank work and explored ways to boost banking and financial ties between Jordan and Iraq.
During the meeting, Sharkas and Al-Alaq signed an agreement that focuses on cooperation and knowledge exchange in several areas. This includes electronic payment systems and services, financial technology, cybersecurity, staff training, and combating money laundering and terrorist financing. The agreement is seen as significant, given the steady advancement of economic relations between Jordan and Iraq.
Sharkas emphasized the importance of the agreement, stating that Jordanian banks are keen to establish a foothold in the Iraqi market. He pointed out that four Jordanian branches have already secured licenses to operate in Iraq, with two branches already active. The cooperation between the central banks of the two countries is expected to facilitate the expansion of banking operations and promote economic ties.
Governor Al-Alaq praised the historical ties between Jordan and Iraq and expressed the Central Bank of Iraq’s desire to benefit from Jordanian expertise in digitalization, financial innovations, and payment systems. The collaboration between the two central banks is expected to foster knowledge sharing and contribute to the development of the banking sectors in both countries.
The meeting between Governor Al-Alaq and Prime Minister Khasawneh, along with the signing of the agreement between the central banks, highlights the growing economic cooperation and the shared commitment to strengthen ties between Jordan and Iraq. The collaboration in the banking and financial sectors is expected to bring mutual benefits and contribute to the overall economic growth and stability of both countries.