Parliamentary Integrity accuses a former employee of the Iraqi Central Bank of being behind the US sanctions
politics breaking 2024-12-01 Shafaq News/ On Sunday, the Parliamentary Integrity Committee accused a former employee of the Central Bank of being behind the banking sanctions imposed on some Iraqi banks by the US Federal Bank.
The number of sanctioned banks is 32 out of 72 banks operating in Iraq.
Member of the Parliamentary Integrity Committee, Vian Dakhil, said in a statement received by Shafaq News Agency, that
a former employee of the Central Bank hid the emails received by the Federal Bank, JP Morgan, and Citibank to inquire about some topics related to the bank’s work. She added that failure to answer these issues caused some banks to be punished, stressing that most banks do not know the reason for the sanctions against them.
On the other hand, economic expert, Mustafa Akram Hantoush, told Shafaq News Agency that the
statements of members of the Parliamentary Integrity Committee are closer to reality than the statements of the Central Bank of Iraq.
He added that the collapse of the Iraqi banking system and the punishment of 32 Iraqi banks without a clear charge during a period of (a year and a half) is not normal, and in terms of banking, this may be the first incident of this kind in the world. Hantoush noted that what is worse is the lack of serious solutions by the Central Bank of Iraq to this situation, but rather the
move towards canceling the (Fitr) platform at the end of 2024 and
handing over the dollar file to banks affiliated with investors and foreign banks (Jordanian and Gulf). Hantoush wondered:
Does the Central Bank of Iraq know that by not finding solutions for the Iraqi banking sector,
it will fire the coup de grace on the entire Iraqi banking system and become punished as a whole,
which will lay off nearly 100,000 workers in the Iraqi private banking sector for the benefit of Jordan and the Gulf countries? And
why is it not guaranteed?
Iraqi banks are required to open an account in correspondent banks in dollars (Citibank/GBMorgan), as the countries of the region have done. He continued,
“Why has the cooperation and auditing mechanism not yet been identified and announced with Ernst & Young regarding transfers in currencies other than the dollar?”
https://shafaq.com/ar/سیاسة/النزاهة-النيابية-تتهم-موظفا-سابقا-بالبنك-المركزي-بالوقوف-ورا-العقوبات-الامريكية-على-المصارف-العراقية
move towards canceling the (Fitr) platform at the end of 2024 and
handing over the dollar file to banks affiliated with investors and foreign banks (Jordanian and Gulf). Hantoush wondered:
Does the Central Bank of Iraq know that by not finding solutions for the Iraqi banking sector,
it will fire the coup de grace on the entire Iraqi banking system and become punished as a whole,
which will lay off nearly 100,000 workers in the Iraqi private banking sector for the benefit of Jordan and the Gulf countries? And
why is it not guaranteed?
Iraqi banks are required to open an account in correspondent banks in dollars (Citibank/GBMorgan), as the countries of the region have done. He continued,
“Why has the cooperation and auditing mechanism not yet been identified and announced with Ernst & Young regarding transfers in currencies other than the dollar?”
https://shafaq.com/ar/سیاسة/النزاهة-النيابية-تتهم-موظفا-سابقا-بالبنك-المركزي-بالوقوف-ورا-العقوبات-الامريكية-على-المصارف-العراقية
