Iraq’s monetary foundation is strong, says advisor

BAGHDAD – Madhar Mohammed Salih, a financial advisor to the Iraqi prime minister, affirmed on Monday that Iraq is internationally recognized for its robust banking compliance systems, ensuring immunity from global financial risks. Salih highlighted praise from the international community for the solidity of Iraq’s financial and banking infrastructure.

Addressing recent concerns over cash liquidity shortages in the country, Salih dismissed them as inaccurate, emphasizing Iraq’s strong monetary foundation. “Managing cash liquidity, building the monetary foundation, and controlling liquidity levels in the country are part of a long-term plan aligned with achieving the operational goals of monetary policy,” he stated, emphasizing stability and sustainable economic growth.

Salih also emphasized Iraq’s proactive role in regional and global efforts against corruption and money laundering.

Under Prime Minister Mohammed Shia al-Sudani, Iraq has intensified its banking sector reforms, notably in response to pressure from the United States regarding dollar smuggling to neighboring countries, particularly Iran and its allies facing severe U.S. sanctions.