EXCLUSIVE: FIVE IRAQI BANKS TO BE BANNED FROM US DOLLAR TRANSACTIONS
By Maha El Dahan and Ahmed Rasheed
February 16, 2025
DUBAI/BAGHDAD, Feb 16 (Reuters) – Iraq’s central bank will ban five more local banks from engaging in U.S. dollar transactions, a move that comes after meetings with U.S. Treasury officials in efforts to combat money laundering, dollar smuggling and other violations, two sources with direct knowledge of the matter told Reuters on Sunday.
The move comes after meetings in Dubai last week between officials from the Central Bank of Iraq – which last year already banned eight banks from U.S. dollar transactions – and U.S. Treasury and Federal Reserve officials, one of the sources said.
(Ok, so it’s not 15 banks, only 5 from engaging in US dollars. These are the CBI restrictions and NOT US sanctions imposed on the banks in Iraq. I repeat NOT US sanctions! Many of these Iraqi news media outlets luv to exaggerate and tell you these are US sanctions. This is called FAKE news. Yes, even in Iraq.)
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