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Thu. Jun 20th, 2024

Iraq’s Commission of Integrity (COI) and the Saudi Oversight and Anti-Corruption Authority signed on Thursday a Memorandum of Understanding (MoU) to enhance their efforts in combating corruption.

The MoU was signed during the Arab Forum of Anti-Corruption Agencies and Financial Intelligence Units sponsored by the Saudi Crown Prince, Prince Mohammed bin Salman, according to the Saudi Press Agency (SPA).

The MoU was signed by the President of the Saudi Oversight and Anti-Corruption Authority, Mazin bin Ibrahim Al-Kahmous, and the head of the COI, Haidar Hanoun.

Along with strengthening cooperation in the fight against transnational corruption offenses, the MoU also seeks to improve both parties’ institutional capacity and make relevant data easier to communicate.

During a meeting held on the sidelines of their participation in the forum, the Governor of the Central Bank of Iraq (CBI), Ali Al-Alaq, and the Governor of the Saudi Central Bank, Ayman Al-Sayari, highlighted the importance of the role played by central banks in confronting economic challenges, ensuring macroeconomic stability, and supporting economic growth, according to a statement released by the CBI.

The two parties discussed mutual collaboration in several financial and banking domains, emphasizing the significance of strengthening banking connections between the two countries.

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