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What are the sanctioned banks waiting for?
Economical 04/07/2024
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The attention of the Iraqi banks as a whole, whether sanctioned or sanctioned, or deprived of foreign dealing in dollars, or rather, is turning the banking sector as a whole to what will be contained in Al-Sudani’s bag prepared for New York.
I mean the upcoming visit of the Prime Minister to America to meet its president, who invited him to this visit.
This is because Al-Sudani’s agenda includes presenting the problem of banks deprived by the Federal Reserve, which has become a real dilemma.
Noting that no one understood the objective reasons for these sanctions, which appear to be violations of standards and instructions, and their essence is purely political, and the observer among us in fact did not understand the reasons for these sanctions, which appear for the first time in the world of banking transactions, as no country’s banks in the world have been subjected to collective sanctions of this magnitude. One of the collective penalties that has disrupted the work of the rest of the banks, which express their fears of being included in the sanctions.
This comes at a time when banks enjoy the satisfaction of international financial institutions and that Iraq's evaluation is still at a good stage for them, and from here a state of astonishment emerges among everyone.
Just as a reminder, it must be noted that the Prime Minister directed the formation of a committee concerned with the affairs of sanctioned or deprived banks since last February, and this committee has submitted its recommendations to the Ministerial Economic Council, but no notification has been issued regarding it regarding whether these recommendations were approved or not, as it is assumed that To submit a briefing to the President, so that he may discuss it
perhaps with the American side.
Perhaps it is useful to point out that there are some countries that supposedly have some violations, but we have not heard of sanctions being imposed on their banks, and from here emerge signs of astonishment and astonishment that make us doubt the matter of these sanctions. Are they due to violations or for political reasons?
Then, the fact-finding committee formed for this purpose submitted its recommendations to the Economic Ministerial Council, and the latter did not disclose its decisions regarding the recommendations. Therefore, we said at the beginning of our presentation of the subject that the attention of the banking sector is directed and awaiting the Sudanese visit to Washington and hopes for the best in resolving its dilemma.!
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