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The US sanctions cause the largest Iraqi private banks to lose money, which were controlling the dol

Rocky

Rocky: Admin Assist; Posts : 269873
Join date : 2012-12-21

Post n°1

The US sanctions cause the largest Iraqi private banks to lose money, which were controlling the dol

by Rocky Fri 12 May 2023, 4:32 am

[rtl]The US sanctions cause the largest Iraqi private banks to lose money, which were controlling the dollar auction[/rtl]

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[rtl]Baghdad-Iraq today:

The Association of Investors of the Iraq Stock Exchange announced that a private bank lost 3.5 billion dinars within 4 months due to the US federal measures.[/rtl]
[rtl]“The result of the Middle East Bank's activity during the first quarter of 2023 is a loss of 3 billion and 543 million dinars,” the association's president, Alaa Al-Moussawi, said in a statement.[/rtl]
[rtl]He explained that "the reason for this large loss is the significant decrease in revenues after the sanctions imposed by the US Federal Bank on the bank and preventing the bank from dealing in dollars, which is the main activity of the bank."[/rtl]
[rtl]He pointed out that "the effect of changing the exchange rate is very slight, because the bank transferred its assets from dollars before imposing sanctions on it."[/rtl]
[rtl][You must be registered and logged in to see this link.]
[/rtl]

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The US sanctions cause the largest Iraqi private banks to lose money, which were controlling the dol

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