Iranian Central Bank Governor Abdolnasser Hemmati held separate meetings with his Iraqi counterpart Nizar Nasser Hussein and Finance Minister Faleh Sari during his visit to Baghdad, focusing on banking and economic cooperation.

Hemmati stressed the need to accelerate mechanisms allowing Iran to use its funds held in Iraqi banks and called for easier banking procedures for Iranian traders and exporters, particularly for transferring funds.

The Iranian and Iraqi central bank chiefs agreed to continue consultations to achieve practical solutions for managing and accessing Iran’s foreign-exchange resources. Hemmati also invited Hussein to visit Tehran to finalize banking agreements.

In his meeting with the Iraqi finance minister, Hemmati presented technical proposals aimed at speeding up the settlement of Iran’s financial claims. The two sides also discussed expanding economic cooperation and using Iranian contractors’ technical capabilities in Iraqi development projects.

Hussein welcomed closer economic ties, saying Iran and Iraq should make better use of their natural resources and skilled workforce to expand technical, engineering and financial cooperation.