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[size=36]An economist reveals the reason for US sanctions on Iraqi banks[/size]
Economy | 12:29 - 02/21/2024
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Mawazine News - Baghdad
Economist Safwan Qusay attributed the reasons for the US sanctions on Iraqi banks to a lack of data.
Safwan said in a televised interview, followed by Mawazine News, that “the availability of data and clarification of where the Iraqi dinar comes from will restore confidence in the financial banking system,” calling for “the necessity of the private sector and government units turning to electronic dealing.”
He pointed out that "the conversion process needs time, in light of the lack of a safe environment for the transfer of the Iraqi dinar between the seller and the consumer."
He stressed that "paper transactions encourage corruption, as the corrupt cannot be granted a commission through an electronic card," pointing out that "paper transactions contribute to the possibility of manipulating the value of the sold commodity."
Safwan revealed during his speech: “International investment is currently looking to enter forcefully into the Iraqi market,” adding that “the reasons for the American sanctions on Iraqi banks are due to the lack of data.”
Safwan said in a televised interview, followed by Mawazine News, that “the availability of data and clarification of where the Iraqi dinar comes from will restore confidence in the financial banking system,” calling for “the necessity of the private sector and government units turning to electronic dealing.”
He pointed out that "the conversion process needs time, in light of the lack of a safe environment for the transfer of the Iraqi dinar between the seller and the consumer."
He stressed that "paper transactions encourage corruption, as the corrupt cannot be granted a commission through an electronic card," pointing out that "paper transactions contribute to the possibility of manipulating the value of the sold commodity."
Safwan revealed during his speech: “International investment is currently looking to enter forcefully into the Iraqi market,” adding that “the reasons for the American sanctions on Iraqi banks are due to the lack of data.”
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