After meeting with the US Federal Reserve, The Central Bank denies that Iraqi banks were subject to sanctions, 17 FEB

 After meeting with the US Federal Reserve, The Central Bank denies that Iraqi banks were subject to sanctions

After meeting with the US Federal Reserve, The Central Bank denies that Iraqi banks were subject to sanctions
Baghdad – Mawazine:
The Central Bank of Iraq denied the existence of international sanctions on some Iraqi banks, after the media circulated news about sanctions that included dozens of banks in the country.

The Central Bank said in a statement that received “Mawazine”, a copy of it, that “the first quarterly meetings of 2025 with the US Treasury Department and the US Federal Reserve Bank, which were held in Dubai / United Arab Emirates with the participation of international auditing and consulting companies (EY, K2 Integrity, Oliver Wyman), and the meetings were culted in praise for the steps taken by the Central Bank of Iraq and the Iraqi government in reforming the banking sector, the most important of which was: the development of the cash distribution system of the US dollar in Iraq, 

which they considered the most controlled and controlling system in the world, which limits the manipulation and smuggling of the US dollar, in addition to the qualitative shift in foreign transfers and the steps taken by the Central Bank of Iraq. To address the risks arising from these operations, which are rising the levels of transfers carried out by international banks.

The statement stressed that the consulting companies (EY and Oliver Wyman) reviewed the plans to reform and upgrade the public and private banking sector in line with international standards and to facilitate the involvement of Iraqi banks in the financial relations network internationally.

The statement added: “Because the operations carried out by banks operating in Iraq depend heavily on the confidence of international correspondent banks in the Iraqi banking sector, we emphasize the need to ensure the adoption of the official channels of this bank to know the latest news and not to report incorrect news, such as the exposure of some Iraqi banks to international sanctions and others.” 

https://mawazin.net/Details.aspx?jimare=259609