The secretary of the Iraq-Iran Chamber of Commerce announced on Monday that Iraq has submitted a proposal to establish a joint bank with Iran, which came during Iranian Foreign Minister Mohammad Javad Zarif's visit to Baghdad.
Hamid Husseini said that there are no branches of Iraqi banks in Iran, adding that Iranian exporters can exchange the Iraqi dinar from Iranian banks in Iraq, while in Iran they can receive an exchange for the dinars in Iranian rial from the National Bank.
Husseini added that Rafidain Bank announced its readiness to establish a branch in Iran.