Governor of the Central Bank of Iraq (CBI), Nizar Nasser Hussein, met on Wednesday with the Chargé d'Affaires of the United States Embassy in Iraq, Joshua Harris, to discuss bilateral cooperation, banking reforms, and efforts to strengthen financial and monetary stability in Iraq.

Harris congratulated Hussein on his appointment as Governor of the Central Bank and reaffirmed Washington’s commitment to supporting Iraq’s economic and financial stability.

Strategic Partnership and Stability

The discussions focused on enhancing the strategic partnership between Iraq and the United States, with both sides emphasizing the importance of maintaining monetary and economic stability in support of the country’s broader political and security objectives.

Harris stressed the United States’ commitment to strengthening relations with Iraq and supporting initiatives aimed at preserving stability and shielding the country from factors that could undermine the country’s progress.

U.S. Praise for CBI Reforms

The U.S. diplomat praised the reform measures undertaken by the Central Bank of Iraq, highlighting the institution’s close cooperation with the U.S. Department of the Treasury and the Federal Reserve. He described these relationships as important components of ongoing efforts to strengthen Iraq’s financial system.

Governor Highlights Banking Reform Agenda

For his part, Governor Hussein expressed appreciation for the longstanding relationship between the Central Bank of Iraq and U.S. financial institutions. He underscored the importance of implementing the CBI’s banking reform agenda to strengthen the Iraqi banking sector and align it with international standards.

The governor noted that the reform program seeks to improve compliance with global regulations governing foreign transfers and enhance mechanisms regulating U.S. dollar sales in accordance with international best practices.

Continued U.S. Support

At the conclusion of the meeting, Harris reiterated the United States’ readiness to continue supporting the Central Bank of Iraq’s efforts to achieve its objectives in promoting financial and monetary stability.

The meeting comes as Iraq continues efforts to modernize its banking sector, strengthen financial governance, and deepen cooperation with international financial institutions.