Iraq's Central Bank said in a statement on Wednesday that assets of Iraqi banks that have accounts in Chinese yuan will be reinforced for the purpose of organising trade with China. The bank also indicated it would increase the assets of Iraqi banks through its yuan accounts at J.P. Morgan and the Development Bank of Singapore (DBS). "In the future, facilitations will be offered for the purpose of financial transfers to US and Europe with the same mechanism," the statement said. The Iraqi government earlier this month adjusted the dinar's value against the dollar to address a shortage of hard currency in local markets. The United States has sanctioned several Ira
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