The Central Bank of Iraq reported that its Governor, Ali Mohsen Al-Allaq, met Bank of England Governor Andrew Bailey in London to discuss bilateral cooperation, including support for Iraq’s digital transformation agenda. Discussions covered drawing on the Bank of England’s experience in modernising paper currency and its work on digital currencies. The meeting also addressed the banks’ relationship in foreign reserves management, with the Central Bank of Iraq holding part of its reserves at the Bank of England. Al-Allaq highlighted monetary policy performance in maintaining price stability, citing inflation of less than 2%, while Bailey encouraged the Central Bank of Iraq’s efforts to join the Bank for International Settlements, noting the Bank of England’s board membership.
Central Bank of Iraq 2025-09-14
Central Bank of Iraq discusses cooperation with the Bank of England on digital transformation and BIS accession
The Central Bank of Iraq's Governor, Ali Mohsen Al-Allaq, met with Bank of England Governor Andrew Bailey to discuss bilateral cooperation, focusing on Iraq's digital transformation and foreign reserves management. The meeting also highlighted Iraq's monetary policy performance and its efforts to join the Bank for International Settlements.