An expert criticizes the US Federal Bank
Economist, Dr. Mahmoud Dagher, criticized the duplication in the work of the US Federal Reserve towards Iraqi banks.
Dagher said, “What is happening in the Iraqi banking system is a duality that is difficult to explain. The Financial Action Committee (FATF MENA) issued the results of the periodic review of Iraq, keeping it in the white area, as an expression of the commitment of Iraq and its banking institutions to acceptable performance in combating money laundering and combating the financing of terrorism, and the procedures and policies applied.” “Compatible with international standards set by the Financial Action Committee concerned with financial standards at the international level.”
He continued: “But a strange and inexplicable duality has emerged, which is the Federal Reserve’s continued restriction of most Iraqi banks from accessing the country’s wealth and its dollar reserves, and this is what makes the duality inexplicable, but rather leads to attribute this to political matters that have nothing to do with the application of financial rules.” The international resolution was decided by the Financial Action Committee in Iraq.
Dagher asked: “Who will solve this contradiction and save our banking system link
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