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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Al-Shammari: The American understanding of the Iraqi Central Bank's procedures is positive.. but

    Rocky
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    Al-Shammari: The American understanding of the Iraqi Central Bank's procedures is positive.. but Empty Al-Shammari: The American understanding of the Iraqi Central Bank's procedures is positive.. but

    Post by Rocky Sun 05 Feb 2023, 5:37 am

    [size=30]Al-Shammari: The American understanding of the Iraqi Central Bank's procedures is positive.. but
    [ltr]2023.02.05 - 09:58[/ltr]
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    On Sunday, the head of the Center for Political Thinking, Ihsan al-Shammari, described the "American understanding" of the Central Bank of Iraq's procedures as "positive."  
      
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    Al-Shammari said in a statement to "NAS" (February 5, 2023), that "the Iraqi government found, in the Istanbul meeting with the representative of the US Treasury delegation, that it is a gateway through which the dollar crisis and the exchange rate in Iraq can be ended, especially as it may establish a negotiating table with the US Federal Reserve." And the gradual end to the collapse of the Iraqi dinar.  
      
      
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    He added, "What Iraq proposed during this meeting may be internal measures represented in not smuggling money to what the United States of America believes (terrorist groups), and on the other hand, the nature of the measures taken to confront money laundering."  
      
    And he continued, "The American understanding of not including a number of Iraqi banks in the list of treasury sanctions may contribute very significantly to limiting the rise in the exchange rate of the US dollar."  
      
    He pointed out, "In addition, are the pledges made by Iraq with regard to subjecting all personalities and countries imposed on them by sanctions from the US Treasury, by excluding them from banking transactions, even inside Iraq, and this is encouraging."  
      
    And between, “We feel that the government’s political base was able to achieve this American understanding, and therefore it achieved an external measure that ends this crisis and relieves pressure and popular discontent,” noting, “I imagine that full compliance with SWIFT rules and what is related to the electronic platform and other matters may give flexibility from American side.  
      
    He pointed out that "if Iraq adheres to the issue of transfers, it will give great flexibility on the part of the American side and put Iraq within the test circle. In the end, the matter depends, in my view, on the February 7 meeting, which may be the most important, given that the government is looking for releases of dollars by the US Federal Reserve, and if the latter is convinced By the nature of the measures taken in relation to banking policy, preventing dollar smuggling, bank governance, and subjecting personalities subject to US sanctions to non-banking transactions, I imagine there will be dollar releases by the US Federal Reserve. All flexibility depends on compliance.  
      
    Al-Shammari concluded his speech by saying: "There are also political and security requirements that can be included and a plan can be drawn up for them in the end, and the presence of Foreign Minister Fouad Hussein among the negotiating delegation is evidence of the existence of security and political axes."  
      
    Earlier, the US Treasury Department issued a statement regarding the meeting with the Central Bank of Iraq, which was held in Istanbul.  
      
    The ministry stated, in a statement followed by “NAS” (February 4, 2023), that “Undersecretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson met with the Governor of the Central Bank of Iraq, Ali Al-Alaq, in Istanbul on February 3 to discuss banking sector reforms and mutual commitment to combating money laundering and addressing For Financing of Terrorism Measures (AML/CFT).    
      
    "Undersecretary Nelson welcomed Governor Al-Allaq's leadership on these issues," the statement added, noting "the long-term cooperation and partnership between the Treasury and the Central Bank of Iraq, particularly on restricting illegal and corrupt actors from exploiting the international financial system."    
      
    Undersecretary Nelson acknowledged, "Iraq's unwavering dedication to improving AML/CFT compliance standards and offering continued cooperation in modernizing the banking sector."    
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