Iraq Germany banking, Ali Mohsen Al-Allaq, met with Commerzbank officials in Baghdad to discuss expanding financial cooperation.
The discussions focused on improving banking relations between Iraqi banks and Germany’s Commerzbank. They aimed to support trade, investments, and economic growth. Both sides highlighted the importance of technical expertise exchange and knowledge sharing.
They explored collaboration in trade finance, international payments, and correspondent banking. These measures are key steps for Iraq to modernize its banking system and integrate with European financial networks.
Officials also discussed ways to improve efficiency in Iraq’s banking operations and streamline cross-border transactions. They agreed that stronger cooperation could facilitate foreign investment and business expansion in Iraq.
The meeting reinforced the commitment of both institutions to regular coordination and consultation. Iraq seeks to strengthen its global financial standing while ensuring compliance with international banking standards.
Participants emphasised training programs, technology transfer, and strategic partnerships as essential tools for sustainable growth in Iraq Germany banking. They also noted that collaboration could reduce costs, speed up transactions, and increase transparency for both domestic and international clients.
In addition, both parties expressed readiness to explore new products and services tailored to Iraq’s private and public sector needs. This includes digital banking solutions, trade facilitation tools, and innovative financing mechanisms.
The meeting marked a significant step toward deeper Iraq-Germany financial relations. By focusing on practical cooperation, both sides aim to build long-term trust and stability in the financial sector.
Through such initiatives, Iraq continues to expand its global banking network, enhance trade opportunities, and strengthen its position in international finance.
Iraq’s Central Bank met with Germany’s Commerzbank to strengthen financial cooperation. They discussed trade finance, international payments, and correspondent banking. Both sides plan to share expertise, improve banking efficiency, support investments, and explore digital banking solutions. This partnership aims to modernize Iraq’s financial system and enhance its global banking connections.