Kurdistan banks will take their share of sanctions. Economic shows the reasons
Baghdad Today – Baghdad
The economic expert Hividar Shaaban, on Thursday (February 27, 2025), said the reasons for imposing US sanctions on a number of banks in the Kurdistan Region.
Shaaban said in an interview with “Baghdad Today” that “within the framework of coordination between the US Treasury Department and the Central Bank of Iraq, sanctions will be imposed on banks in the region, including banks participating in the Hassabi project for the salaries of employees in Kurdistan.”
“This process is to control currency smuggling in some banks in the region, control money laundering, illegal transactions, and the process of structural regulation of banks,” he added.
Earlier this February, two informed sources said that the Central Bank of Iraq will prevent local banks from dealing in dollars.
Reuters quoted the sources as saying: “The Central Bank of Iraq will prevent 5 local banks from dealing with dollars at the request of the US Treasury.”
“Three payment service companies will be banned from dealing in dollars according to the request of the US Treasury,” the sources added.
They pointed out that “America submitted its request due to serious monetary violations and smuggling of the dollar out of the country.”
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