Dr. Ahmad bin Abdul Karim Al-Kholify, Governor of the Saudi Arabian Monetary Authority, received his counterpart, Dr. Ali Mohsin Al-Alaq, Governor of the Central Bank of Iraq, in the presence of the Ambassador of Iraq in Riyadh Dr. Rushdi Al-Ani, President of the Iraqi Banks Association, and with the participation of a delegation of officials of the Central Bank of Iraq and senior bank officials in Iraq today, Wednesday, 25 Rabi Al-Awal 1439 AH corresponding to December 13, 2017 AD at SAMA's headquarters in Riyadh. The meeting was attended by Dr. Fahd bin Ibrahim Al-Shathry, Deputy Governor of the Saudi Arabian Monetary Authority (SAMA) for Research and International Affairs, and a number of officials.
This visit aims to form a joint team from SAMA and the Central Bank of Iraq to promote and develop direct cooperation between banks in the two countries, and this comes within the framework of developing and activating banking relations.
The two parties discussed in the meeting many issues of common interest and ways to develop banking relations in the two countries. They also discussed cooperation with regard to financial transfers and correspondent relations between Saudi banks and Iraqi banks, and other banking transactions that provide an adequate infrastructure for the future of economic and investment cooperation between the two countries.
Dr. Al-Kholify also welcomed the desire of his Iraqi counterpart to benefit from SAMA's expertise in the fields of training and knowledge transfer to colleagues in brotherly Iraq in a number of different fields in the Financial Institute of the Monetary Authority. To achieve this, the two parties agreed to continuous communication to determine the mechanisms of cooperation in this field. This visit comes within several visits and bilateral meetings between officials in the two countries, a culmination of the march of strategic relations and a tributary to new horizons of joint and fruitful cooperation between the two countries.