Parliamentary Finance Committee Warns Of Sanctions Against Rafidain Bank: It Is Marred By Regulatory Concerns, 17 MARCH

 Parliamentary Finance Committee Warns Of Sanctions Against Rafidain Bank: It Is Marred By Regulatory Concerns

Banks  Economy News – Baghdad  Deputy Chairman of the Finance Committee in the House of Representatives, Ikhlas al-Dulaimi, warned of the possibility of the US Treasury imposing sanctions on Rafidain Bank if it continues to implement procedures marred by regulatory concerns.

Al-Dulaimi said, in an interview monitored by Al-Eqtisad News, that "Rafidain Bank, like any private bank, is subject to the instructions and regulations of the US Treasury Department under an agreement with the Central Bank of Iraq and the international company charged with monitoring the work of banks in Iraq."

She added, "The international company pointed out the existence of violations in the work of Rafidain Bank, which prompted the bank to contract with a foreign company to improve its performance and address these concerns."

Al-Dulaimi pointed out that "the bank's continued operation according to its previous procedures could lead to US sanctions being imposed on it, along with other private banks, if the recorded violations are not corrected."

On January 30, 2025, US Republican Representative Joe Wilson renewed his attacks on Iraq, but this time by demanding sanctions on the government-owned Rafidain Bank.  https://economy-news.net/content.php?id=53438