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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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    Non-Iraqi banks exploit the sanctions to monopolize the dollar and distort the image of Iraqi banks

    Rocky
    Rocky
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    Non-Iraqi banks exploit the sanctions to monopolize the dollar and distort the image of Iraqi banks Empty Non-Iraqi banks exploit the sanctions to monopolize the dollar and distort the image of Iraqi banks

    Post by Rocky Tue 06 Feb 2024, 2:16 pm

    [size=38]Non-Iraqi banks exploit the sanctions to monopolize the dollar and distort the image of Iraqi banks[/size]


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    February 6, 2024[You must be registered and logged in to see this link.]
    Baghdad/Al-Masala Al-Hadath: In light of the difficult economic conditions facing Iraq, private Iraqi banks are under increasing pressure from lurking parties who are exploiting the new sanctions imposed on them with the aim of distorting their image and restricting them from accessing the dollar.
    In this context, the analysis conducted by informed sources indicates that there are parties that carefully monitor the movement of Iraqi banks and strive to restrict their work, especially with regard to dealing in dollars, by exploiting the economic conditions and sanctions imposed on some Iraqi banks.
    Despite the lack of real evidence to justify these sanctions, lurking parties are exploiting them to achieve their goals, as they aim to distort the image of private Iraqi banks and restrict them from accessing the hard currency market, which negatively affects the national economy and exposes citizens to more financial pressures.
    At the same time, competing foreign banks present in Iraq are seeking to exploit this opportunity to strengthen their position in the banking market, by restricting the movement of private Iraqi banks and their control over financial transactions in dollars.
    This strategy comes within the framework of attempts to control the Iraqi financial market and undermine confidence in the national banking system, which requires effective government action to protect Iraqi private banks and support them in facing these economic challenges.
    Financial expert and academic Mahmoud Dagher said that the new sanctions imposed on a number of Iraqi banks were taken based on suspicions, not evidence.
    Dagher said in an interview that Iraqi banks complied with the instructions of the Central Bank, through the compliance units and anti-money laundering units, and the expansion of building a system of correspondents and intermediary banks abroad, but the political changes and their impact on the economic situation cast a shadow on the financial situation.
    Dagher added that the bank can work, but not with dollars, and that banks are the Iraqi economic structure. When the economy is devoid of industry, agriculture, transportation, and tourism, the daily commercial activity is what is important, as it is what provides the means of livelihood for the Iraqis, so you see that Banks were involved in financing imports from abroad and from merchants.
    Dagher believes that the Central Bank, supported by the government and supported by international relations and the Ministry of Foreign Affairs and its role, must move to clarify the truth about these matters from the American side.
    He considered that these matters require serious discussions with the American side, because the US Treasury Department is the arm of the security economy of the United States. In short, these matters always start from the Treasury Department, as it is the protector of the US financial entity from economic attacks, whether from individuals or legal entities.
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