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[size=36]Economist: The Central Bank committed a massacre against private banks at the expense of foreign ones[/size]
Political | 05:04 - 04/30/2024
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Mawazine News - Baghdad..
Economic expert Mustafa Akram Hantoush was surprised, on Tuesday, by the Central Bank’s continued granting of dollar licenses to foreign companies and the neglect of Iraqi banks.
Hantoush said to Mawazine News, “The Central Bank of Iraq is required today to reveal the list of dollar sales on the platform that He supervises it, so that the Iraqi people know which banks are holding the dollar.”
He pointed out that “the Central Bank of Iraq, instead of strengthening the work of Iraqi banks, went towards supporting foreign banks, which are Jordanian, which swallowed up the Iraqi banks and confused the market,” pointing out that “Jordanian banks will control 95 percent of the market compared to 5 percent for Iraqi banks, and this is competition.” unfair".
Hantoush concludes, “There is a major campaign undertaken by Jordanian banks to acquire human resources in Iraqi banks, and this is due to the policy of the Central Bank.”
The United States intervened in the movement of the dollar in Iraq to limit its smuggling, and more than once imposed sanctions on private Iraqi banks and removed them from the currency window, which led to a decline in the Central Bank’s sales. The Central Bank also took several measures and opened an electronic window for merchants.
In the middle of last month, the Governor of the Central Bank, Ali Al-Alaq, revealed meetings with the US Treasury to reconsider the sanctions on Iraqi banks, pointing out that these sanctions should not be issued in the future except after discussing and informing the Central Bank of Iraq, as it is concerned with monitoring their activity.
Economic expert Mustafa Akram Hantoush was surprised, on Tuesday, by the Central Bank’s continued granting of dollar licenses to foreign companies and the neglect of Iraqi banks.
Hantoush said to Mawazine News, “The Central Bank of Iraq is required today to reveal the list of dollar sales on the platform that He supervises it, so that the Iraqi people know which banks are holding the dollar.”
He pointed out that “the Central Bank of Iraq, instead of strengthening the work of Iraqi banks, went towards supporting foreign banks, which are Jordanian, which swallowed up the Iraqi banks and confused the market,” pointing out that “Jordanian banks will control 95 percent of the market compared to 5 percent for Iraqi banks, and this is competition.” unfair".
Hantoush concludes, “There is a major campaign undertaken by Jordanian banks to acquire human resources in Iraqi banks, and this is due to the policy of the Central Bank.”
The United States intervened in the movement of the dollar in Iraq to limit its smuggling, and more than once imposed sanctions on private Iraqi banks and removed them from the currency window, which led to a decline in the Central Bank’s sales. The Central Bank also took several measures and opened an electronic window for merchants.
In the middle of last month, the Governor of the Central Bank, Ali Al-Alaq, revealed meetings with the US Treasury to reconsider the sanctions on Iraqi banks, pointing out that these sanctions should not be issued in the future except after discussing and informing the Central Bank of Iraq, as it is concerned with monitoring their activity.
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