The Governor of the Central Bank of Iraq, Nizar Nasser Hussein, met with executives from exchange companies to discuss reforms aimed at strengthening the sector, expanding its activities, and enhancing its contribution to the national economy.

Focus on Sector Development

During the meeting with general managers and board chairpersons of exchange companies, Hussein reaffirmed the Central Bank's commitment to revitalizing the sector and enabling it to play a more effective role within Iraq's financial system.

He stressed the importance of cooperation in addressing existing challenges and advancing the country's non-banking financial sector.

New Initiatives Planned

The governor said the Central Bank will introduce new initiatives and business activities designed to broaden the scope of exchange companies' operations and create additional sources of revenue.

He noted that the measures are intended to strengthen the sector's role in supporting the national economy, implementing key financial initiatives, and improving overall performance.

Emphasis on Compliance and Governance

Hussein also highlighted the importance of adhering to international standards of compliance and governance, describing them as essential to improving the efficiency of exchange companies and increasing confidence in the sector.

He urged company representatives to continue holding regular meetings to enhance coordination and support the sector's ongoing development.