CBE Hosts Iraqi Delegation to Discuss Enhancing Cooperation, Exchanging Experiences

The Central Bank of Egypt (CBE) hosted a high-level delegation from the Central Bank of Iraq headed by Ammar Khalaf, Deputy Governor, as part of Egypt's keenness to support cooperation with Arab countries and exchange experiences in the fields of banking.

The Iraqi delegation was received by Tarek Al-Kholy, Deputy Governor of the Central Bank of Egypt, where extensive discussions took place on ways of joint cooperation, in addition to reviewing the most prominent developments achieved by the CBE in the sectors of control and supervision of banks, financial inclusion, financial technology, electronic payment systems and services, and protection of customer rights.

The visit included detailed presentations of a number of pioneering projects and initiatives, including the National Payment Card System, the Instant Payments Network, the National Card Coding Platform, and the Financial Technology Regulatory Laboratory.

The Iraqi delegation also recognized the Central Bank's efforts in promoting financial inclusion and financial education, and supporting entrepreneurship and small, medium and micro enterprises.

Officials of the CBE also reviewed field and office control mechanisms, the methodology of supervisory work, and experiences in combating money laundering, terrorist financing and financial crimes, which enhances financial stability and efficiency of the banking sector.

The Iraqi delegation praised the boom achieved by the Central Bank of Egypt over the past years in various fields, stressing its aspiration for more cooperation and exchange of experiences between the two sides.