Local News

Facilitating the transfer of funds enhances Jordan’s commercial exchanges with Iraq

Amman Today

publish date 2023-02-10 12:48:14

A Jordanian trade delegation discussed with the Deputy Governor of the Central Bank of Iraq, Dr. Ammar Khalaf, many issues of concern to the two countries in the banking and financial fields.

The two sides also discussed, during a meeting in the capital, Baghdad, how to cooperate and coordinate in setting up new mechanisms for transferring funds between the two countries, in addition to money transfers.

The head of the Jordan Chamber of Commerce, Khalil Haj Tawfiq, said that the meeting with the Central Bank of Iraq comes as a continuation of a meeting held with the Central Bank of Jordan based on the Jordan Chamber of Commerce’s keenness to have cooperation between the two parties that serves the interests of merchants and business owners.

Hajj Tawfiq said in a press statement today, Friday, that facilitating the transfer of funds between the two countries is an important element for increasing trade exchange and attracting investments, stressing that the Iraqi side has been briefed on the observations of the Jordanian private sector and Iraqi investors in the Kingdom.

He pointed out that there is a clear understanding on the part of the Iraqi side regarding all the observations that were raised and dealt with in a manner that reflects on the commercial exchanges of the two countries and facilitates the task of merchants and importers within the applicable laws and standards.

And Haj Tawfiq indicated that it was confirmed that a meeting would be held soon between the Central Bank of Jordan and its Iraqi counterpart, in the presence of the private sector concerned with the financial and banking sector, so that efforts could be coordinated.

Hajj Tawfiq pointed out that the Jordan Chamber of Commerce, as the umbrella of the commercial sector, will work to follow up this file to reach a clear and specific mechanism regarding the speed and freedom of transferring funds in a manner that does not violate the laws.

For his part, the representative of the financial and banking sector in the Jordan Chamber of Commerce, Firas Sultan, indicated that the meeting with the Central Bank of Iraq discussed many issues, the most important of which are the transfers of the Central Bank of Iraq and the importance of working to re-implement them through Jordanian banks according to policies.

and instructions to be agreed upon.

And between Sultan, that a request was made to open direct dealings for Jordanian exchange companies with large Iraqi companies and licensed Iraqi banks directly and without an intermediary (third party) for the purposes of saving on the cost of commissions that were increasing the cost over the value of exports of the Jordanian industrial product and with the aim of activating the joint economic zone in the future and increasing the balance. commercial trade between the two countries.

In turn, member of the Board of Directors of the Amman Chamber of Commerce, Alaa Diranieh, described the meeting as positive and reflects the depth of the economic relations that bring the two countries together and the seriousness that there should be a new framework to raise them to levels that meet aspirations.

He expressed his hope to reach understandings between the Central Bank and its Iraqi counterpart regarding coordination and cooperation between exchange companies operating in the two countries to take their role regarding financial transfers and remittances that have been stalled for several years.

Deiranieh indicated that there is an Iraqi interest in studying the issue of financial relations between the Jordanian exchange companies and their Iraqi counterparts, which would enhance intra-trade between the two countries and make the Kingdom a financial center for the region and support the Kingdom’s reserves of foreign currencies.

Ayman Alawneh, member of the Board of Directors of the Jordanian Businessmen Association, attended the meeting.

-(Petra)

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Jordan News

Source : اخبار الاردن

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