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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

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    New Iraqi banks under the gaze of "US sanctions"... and fears of a new rise in the dollar - urgent

    Rocky
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    Banks - New Iraqi banks under the gaze of "US sanctions"... and fears of a new rise in the dollar - urgent Empty New Iraqi banks under the gaze of "US sanctions"... and fears of a new rise in the dollar - urgent

    Post by Rocky Thu 14 Sep 2023, 12:31 pm

    New Iraqi banks under the gaze of "US sanctions"... and fears of a new rise in the dollar - urgent
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    Baghdad today - follow-up
    Today, Thursday (September 14, 2023), Reuters revealed possible US sanctions that may affect new Iraqi banks.
    Reuters quoted  a senior US Treasury Department official as saying, followed by “Baghdad Today,” that “the Central Bank of Iraq must address the ongoing risks resulting from the misuse of the dollar in Iraqi commercial banks in order to avoid imposing new punitive measures targeting the country’s financial sector,” noting that “Fraud, money laundering, and Iran’s evasion of sanctions.”
    In July, the United States prevented 14 Iraqi banks from conducting transactions in dollars as part of a broader campaign against the illegal use of the American currency.
    The official, who spoke on condition of anonymity, stated that "there are still other Iraqi banks operating with risks that must be addressed despite the campaign."
    With reserves of more than $100 billion in the United States, Iraq relies heavily on Washington's good faith to ensure that its oil revenues and funds are not subject to US sanctions.
    The official added that the measure, which his country took in July, was based on clear indications of illegal financial activity. He explained that the alleged crimes being considered by the Treasury Department include acts of money laundering, bribery, extortion, embezzlement and fraud.
    Iraq has more than 70 private banks, and nearly a third of these banks are subject to the latest US sanctions.
    “I choose to focus on banks that still have access and where I see continued risks,” the official told Reuters in Baghdad.
    He added, "It would be great if the central bank seized the opportunity to address the matter directly, which might negate the need (in the United States) to take further measures."
    This information led to fears that any sanctions imposed on new banks and depriving them of the dollar would lead to an additional rise in exchange rates.
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