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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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    The Central Bank reveals the reasons for the US sanctions on Al-Huda Bank

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    The Central Bank reveals the reasons for the US sanctions on Al-Huda Bank Empty The Central Bank reveals the reasons for the US sanctions on Al-Huda Bank

    Post by Rocky Tue 30 Jan 2024, 4:16 am

    [size=35][size=35]The Central Bank reveals the reasons for the US sanctions on Al-Huda Bank[/size]
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    01-30-2024 | 02:20
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    Al-Sumaria News - Economy

    The Central Bank of Iraq revealed, today, Tuesday, the reasons for the American sanctions imposed on Al-Huda Bank, indicating that they return to its activities in 2022.


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    The Central Bank stated in a statement received by "Al-Sumaria News", "The US Treasury Department has imposed sanctions on Al-Huda Bank of Iraq, due to its activities in 2022."


    The bank added, "The bank did not participate in the foreign currency buying and selling window during the year 2023," stressing that it "continues to provide its banking services without dealing in US dollars and is allowed to deal in other foreign currencies."



    Yesterday, Monday (January 29, 2024), the US Ambassador to Iraq, Elena Romanowski, considered that the sanctions on Al-Huda Bank will help protect the Iraqi financial system.

    Yesterday, Monday (January 29, 2024), the US Treasury Department included Al-Huda Bank and its owner, Hamad Al-Moussawi, on the sanctions lists issued by it.
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    The Central Bank reveals the reasons for the US sanctions on Al-Huda Bank Empty Central Bank: Sanctions on Al-Huda Bank due to its activities in 2022

    Post by Rocky Tue 30 Jan 2024, 4:18 am

    [size=36]Central Bank: Sanctions on Al-Huda Bank due to its activities in 2022[/size]

    Economy | 10:20 - 01/30/2024

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    Mawazine News - Baghdad
    Today, Tuesday, the Central Bank revealed that the US Treasury Department had imposed sanctions on Al-Huda Bank of Iraq, while indicating that the bank did not participate in the foreign currency buying and selling window during the year 2023. The
    Central Bank stated, in a statement received by Mawazine News, that “ The US Treasury imposed sanctions on Al-Huda Bank of Iraq due to its activities in 2022.”
    He added, "The bank did not participate in the window for buying and selling foreign currency during the year 2023," noting that "Al-Huda Bank continues to provide its banking services without dealing in the US dollar and is allowed to deal in other foreign currencies."
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    • Post n°3

    The Central Bank reveals the reasons for the US sanctions on Al-Huda Bank Empty The Central Bank of Iraq reveals the reason for America imposing sanctions on Al-Huda Bank

    Post by Rocky Tue 30 Jan 2024, 5:08 am

    The Central Bank of Iraq reveals the reason for America imposing sanctions on Al-Huda Bank

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    Shafaq News/ The Central Bank of Iraq revealed, on Tuesday, that the US Treasury Department had imposed sanctions on the Iraqi “Al-Huda” Bank, attributing the reason to its activities in 2022.
    The Central Bank of Iraq stated in a statement today that the bank did not participate in the foreign currency buying and selling window during the year 2023, stressing that it continues to provide its banking services without dealing in the US dollar and is allowed to deal in other foreign currencies.
    Yesterday, Monday, the US Treasury Department included the Iraqi Al-Huda Bank on the sanctions list, as it is a source of major concern regarding money laundering because it “acts as a channel for financing terrorism by Iran.”
    A US Treasury statement, viewed by Shafaq News Agency, said, “Al-Huda Bank, an Iraqi bank that acts as a channel for financing terrorism, as a foreign financial institution raises a major concern about money laundering,” noting that “the Financial Crimes Enforcement Network (FinCEN) proposed a rule... It would separate the bank from the US financial system by prohibiting local financial institutions and agencies from opening or maintaining a correspondent account for or on behalf of Al Huda Bank, in addition to imposing sanctions on the bank’s owner by the Office of Foreign Assets Control (OFAC).
    According to Treasury, Al-Huda Bank, and its foreign sponsors, including Iran and its proxy groups, are diverting funds that could support the legitimate businesses and economic aspirations of the Iraqi people, and these bad actors are fueling violence that threatens the stability of Iraq and the lives of American and Iraqi citizens alike.
    According to the US Treasury statement, Al-Huda Bank has for years exploited its access to US dollars to support designated foreign terrorist organizations including the Iranian Revolutionary Guard, as well as Iraqi militia groups allied with Iran including Kataib Hezbollah and Asaib Ahl al-Haq.
    The statement indicated, “The Chairman of the Board of Directors of Al-Huda Bank is complicit in Al-Huda Bank’s illicit financial activities, including money laundering through front companies that hide the true nature of the parties involved in the illicit transactions, which ultimately enables the financing of terrorism.”
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