On Thursday, Reuters uncovered in a report about an authority in the US Depository Division that the last option undermined new Iraqi banks in case of resistance with guidelines during the new visit to Iraq.
According to the report, which was translated by the agency “Al-Ma’louma,” “According to the American official who refused to reveal his identity, the Central Bank of Iraq must address the ongoing risks resulting from the misuse of dollars in Iraqi commercial banks to avoid new punitive measures targeting the country’s financial sector,” and “There are still other Iraqi banks operating with risks that must be addressed.” As indicated by his case.
The report made sense of, “With the US having stores of more than $100 billion in incomes, Iraq remains to a great extent under Washington’s influence over the assets and guaranteeing that oil incomes and assets are not presented to US sanctions.”
As far as it matters for him, Farhad Alaeddin, guide to the Iraqi Head of the state for International concerns, said, “The public authority has gone to severe lengths to guarantee that Iraqi interests are safeguarded while further developing the financial area and settlement market,” adding, “The Iraqi government doesn’t generally mess around with proceeding with the way of change and battling defilement.”
The US official said, “I decided to zero in on banks that actually approach banks where I see continuous dangers, and it would be great assuming the national bank made a move to address the matter straightforwardly, which could stay away from the requirement for (the US) to go to any further lengths.” .
“The American measures focus on the so-called Iraqi dollar auction,” according to the report, “where the central bank requests dollars from the US Federal Reserve before selling them to commercial banks, which sell them to companies in the import-dependent economy, where between 200 million and 250 million are sold.” Every day, millions of dollars are up for auction.
The report noted, “As per Iraqi authorities, the actions prompted a lack of dollars, which provoked the Iraqi dinar to change its cost by in excess of 150,000 dinars for every dollar in the informal market lately, or at least, 15% more fragile than the authority cost of 132,000 dinars beforehand.” “.
The Legislative head of the National Bank of Iraq, Ali Mohsen Al-Alaq, met with US Right hand Secretary of the Depository Elizabeth Rosenberg and her going with assignment yesterday, Wednesday, to talk about the actions taken by the National Bank of Iraq in the field of bank money moves and different subjects.