DINAR REVALUATION

Thursday, February 15, 2024

About the sanctions. “Economy News” publishes the outputs of the meeting of the Association of Banks with the Economics of the Parliament, 15 FEB

About the sanctions. “Economy News” publishes the outputs of the meeting of the Association of Banks with the Economics of the Parliament

Economy News – Baghdad

The Committee on Economy, Industry and Trade, headed by MP Ahmed Salim Al-Kanani, discussed today, Wednesday, with the Association of Iraqi Banks and directors of private banks, the sanctions imposed by the US Federal Bank.

The Information Department of the House of Representatives said, in a statement received by “Economy News”, that “the Committee of Economy, Industry and Trade, headed by MP Ahmed Salim Al-Kinani and the presence of its members hosted the Association of Iraqi Banks and Directors of private banks,” noting that “the meeting discussed the sanctions imposed by the US Federal Bank on a number of Iraqi private banks.”

The committee listened to “a detailed explanation provided by the Association of Iraqi Banks and Directors of National Banks about the most important problems and obstacles suffered by private banks, including freezing their balances abroad and stopping foreign transactions and transfers with correspondent banks.”

The Association of Iraqi Banks indicated that “the ban imposed on these banks came with a letter from the Central Bank of Iraq without stating the reasons,” calling on “the House of Representatives and the Parliamentary Economy Committee to intervene to address this issue in cooperation with the Central Bank and the Council of Ministers.”

The participants stressed that “the ban imposed on private banks negatively affected the Iraqi economy, as the private banks constitute more than 47% of the assets, 36% of deposits and 37% of the capital, adding that the prohibited banks constitute 50% of the private banks in Iraq, and this directly affects the performance of the Iraqi economy in a scientific way.”

For his part, the head of the committee stressed that “the House of Representatives pays great attention to this issue as it negatively affects the growth of the Iraqi economy.”
He added that “the committee is following up the matter with the Council of Ministers and the Central Bank of Iraq to find effective solutions that contribute to lifting the ban on these banks.”

https://economy-news.net/content.php?id=40449

"IMPORTANT IRAQ NEWS:THE IRAQI CENTRAL BANK CANCELS THE OPERATION OF THE LARGEST IRANIAN BANK IN THE COUNTRY" BY MNT GOAT, 15 FEB

THE IRAQI CENTRAL BANK CANCELS THE OPERATION OF THE LARGEST IRANIAN BANK IN THE COUNTRY

The Central Bank of Iraq has canceled the operating license of the largest Iranian bank in Iraq, the National Bank of Iran (Milli), due to international sanctions and the bank’s limited operations in Iraq, according to what Reuters reported on Thursday.

Reuters said that this decision was contained in a document from the Central Bank of Iraq dated January 31, 2024.The document stated, “In light of the losses incurred by your branch in Iraq, its limited activities, its inability to implement or expand banking activities, and…its inclusion in international sanctions, it has been decided to cancel your license.”

In 2018, the US Treasury Department imposed sanctions on Bank Melli, claiming that the Iranian Revolutionary Guard is using it to “distribute funds to Iraqi Shiite armed groups, and that Bank Melli’s presence in Iraq is part of this scheme.”

Iraq, which has reserves of more than $100 billion in the United States, is counting heavily on Washington’s goodwill to ensure that its access to oil revenues and money is not blocked.

Iraq recently banned eight local commercial banks from conducting transactions in US dollars and took measures to limit fraud, money laundering and other illegal uses of the US currency in a move welcomed by the US Treasury Department.

According to Iraqi and American officials, Iraq prevented 14 banks in July 2023 from conducting dollar transactions as part of a broader campaign aimed at reducing the smuggling of dollars into Iran through the Iraqi banking system after a request from Washington, according to Reuters.

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/

Iraqi Dinar🔥Revaluation News Last 24 Hours-Iraqi Dinar News Today 2024-I...

UN issues statement clarifying reasons for Blaskhart leaving Baghdad, 15 FEB

UN issues statement clarifying reasons for Blaskhart leaving Baghdad

Mawazine News – Baghdad

The UN Mission in Iraq (UNAMI) issued a statement to “set things in perspective” regarding “misleading reports” by traditional media and Iraqi communication platforms about why the Special Representative of the Secretary-General, Jeanine Blaschart, had left the country.

In its statement, the mission stressed that the departure of Blasschart “is consistent with practices within the UN, including the usual rotation of senior UN officials.”

In her last briefing to the Security Council that she said she might be the last on Iraq, she announced that she arrived in Baghdad in December 2018 and “now, five years later, it’s almost time to say goodbye and expect to leave my position at the end of May,” describing Iraq “a country of immense beauty, a country of rich diversity and culture, where there are many opportunities to seize.”

The mission distanced itself from “allegations of corruption” at UNDP and made in a report by the British newspaper The Guardian by asserting that “UNAMI and UNDP have different administrative and financial structures.”

She urged the media to “prioritize accuracy and refrain from circulating misinformation.”

https://mawazin.net/Details.aspx?jimare=242116

"RV UPDATE" BY CLARE, 15 FEB

Clare

Article: "Economist: The window for selling the currency ends in 2024, and the central bank will devote itself to supervision"

Quote: "The Central Bank of Iraq decided to end the currency window process and adopt correspondent banks as an alternative. There will be a new mechanism to provide currency for transfers without returning to the currency window or the electronic platform ."

Article: "Saleh: Iraq is experiencing high price stability and the decline of parallel market noise "

iraqi dinar✅It's Massive Update About IQD Today 2024 / Iraqi Dinar News ...

Al-Sudani Opens The Iraq International Book Fair, 15 FEB

Al-Sudani Opens The Iraq International Book Fair

Today, Wednesday, the Council of Ministers, Muhammad Shiaa Al-Sudani, opened the Iraq International Book Fair.

A statement from his office received by Earth News stated, “Prime Minister Muhammad Shiaa Al-Sudani opened the Iraq International Book Fair, which is hosted by the capital, Baghdad, under the slogan (It has become called Palestine), with the participation of hundreds of cultural institutions and Iraqi, Arab, and international publishing houses.”