CBI accelerates reform measures to avoid financial isolation

In an effort to avoid punitive measures from the Trump administration, the Central Bank of Iraq (CBI) has stepped up its efforts to publicly demonstrate that it is undertaking reform measures to curb money laundering and the misuse of US dollar.

Speaking at a conference this week, CBI Governor Ali Al-Allaq noted the expansion of Iraq’s electronic payment system, citing an increase in ATMs and digital wallets. He added that the CBI's efforts have contributed to raising the country’s financial inclusion rate from 20% to 40% over the past two years.