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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


    "Mercurial Economy"... an academic view on the banks accused of smuggling the dollar in Iraq

    Rocky
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    "Mercurial Economy"... an academic view on the banks accused of smuggling the dollar in Iraq Empty "Mercurial Economy"... an academic view on the banks accused of smuggling the dollar in Iraq

    Post by Rocky Thu 01 Feb 2024, 2:13 pm

    "Mercurial Economy"... an academic view on the banks accused of smuggling the dollar in Iraq
    [You must be registered and logged in to see this link.] |Today
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    Baghdad Today - Baghdad
    Today, Thursday (February 1, 2024), Professor of Economics at Diyala University, Mahdi Saleh Douai, presented an academic view on the banks accused of smuggling the dollar.
    Douai told "Baghdad Today", "Iraq's economy is classified as rentier and is extremely affected by external variables due to its lack of diversity. That is, it is a mercurial economy, so the process of controlling it, whether from America or regional countries, is not difficult, and there are many experiences in this direction." .
    He added, "The rapprochement with Iran, the complex geopolitical interests between Baghdad and Tehran, and Washington's imposition of sanctions on the latter prompted Iran to compensate for its losses resulting from the sanctions through Iraq in various ways, including banks and other economic tools."
    Douai pointed out, “Banks are not a toy and another pressure scenario, but they face multiple loopholes and Washington cannot control them, no matter what means they use. Therefore, we see that the banks punished by America will not be affected.”
    He pointed out that "the economic exchange between the Gulf states and Tehran is equivalent to the latter's activity with Baghdad several times, but the political dimension and America's turning a blind eye to it are an important axis because Baghdad constitutes a side of its interests and a source of constant concern for it. Therefore, the sanctions are intensifying in Iraq, but they do not exist in the Gulf markets because they do not cause concern." Her anxiety has multiple dimensions.”
    In recent months, the US Treasury Department issued a series of sanctions demanding dozens of Iraqi banks, the most recent of which were Al-Huda Bank and Fly Baghdad Airlines, due to financial dealings with Iran and others related to money laundering operations.
    These decisions were reflected in the value of the dinar against the dollar, in addition to depositors flocking to the sanctioned banks to withdraw their money deposited in dollars.
    Although the government approved a package of financial measures, the most prominent of which was fixing the exchange rate of the Iraqi dinar at 1,320 dinars to one dollar, despite the passage of several months since this decision, there is still a large difference between the official exchange rate approved by the Central Bank of Iraq and the parallel market.
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