Iran's CB Chief Signs Payment Mechanism Deal in Baghdad

Iran and Iraq signed an agreement Tuesday to establish a monetry channel for facilitating payments between the two countries.  The agreement was signed by the governors of the Central Banks of Iran Abdolnaser Hemmati and Ali Al-Allaq, his Iraqi counterpart, in Baghdad.

Hemmati announced that as per the agreements,  Iraqi companies are allowed to open bank accounts in Iranian banks and conduct their transactions in dinar.

Additionally, the CBI will open...