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What did Iraq achieve in its meetings with the US Treasury, and did it succeed in controlling the sale of the dollar?
economy 2024-11-12 | 01:41
4,949 views
Alsumaria News - Economic
The Central Bank of Iraq announced progress in the procedures for controlling external transfers and cash dollar sales and providing protection for the banking and financial sector from the risks of money laundering operations, following the ongoing discussions of the Central Bank of Iraq with the Federal Bank and the US Department of the Treasury.
The bank’s governor, Ali Al-Alaq, said in press statements,
“The ongoing quarterly meetings with the Federal Reserve Bank and the US Treasury Department within the framework of organizing operations and coordination between the two sides, which have close relations, led to agreement on procedures and formulas that are consistent with best practices and international standards, the latest of which was the plan related to organizing operations.” External transformation through rebuilding it according to new standards and methods.” Al-Alaq stressed that
"Iraq has achieved 95% progress with regard to procedures for controlling external transfers, cash dollar sales, and providing protection for the banking and financial sector from the risks of money laundering operations."
In July 2023, the US Treasury Department imposed sanctions on 14 banks, preceded by months of similar sanctions that included 4 other Iraqi banks after they were accused of money laundering.
The Iraqi government, through the Central Bank of Iraq, has been continuing its negotiations for about two years with the US Treasury Department to lift sanctions on these banks, all of which are private banks.
https://www.alsumaria.tv/news/economy/506135/ماذا-حقق-العراق-باجتماعاته-مع-الخزانة-الأميركية-وهل-نجح-بالسيطرة-على-ب
economy 2024-11-12 | 01:41
4,949 views
Alsumaria News - Economic
The Central Bank of Iraq announced progress in the procedures for controlling external transfers and cash dollar sales and providing protection for the banking and financial sector from the risks of money laundering operations, following the ongoing discussions of the Central Bank of Iraq with the Federal Bank and the US Department of the Treasury.
The bank’s governor, Ali Al-Alaq, said in press statements,
“The ongoing quarterly meetings with the Federal Reserve Bank and the US Treasury Department within the framework of organizing operations and coordination between the two sides, which have close relations, led to agreement on procedures and formulas that are consistent with best practices and international standards, the latest of which was the plan related to organizing operations.” External transformation through rebuilding it according to new standards and methods.” Al-Alaq stressed that
"Iraq has achieved 95% progress with regard to procedures for controlling external transfers, cash dollar sales, and providing protection for the banking and financial sector from the risks of money laundering operations."
In July 2023, the US Treasury Department imposed sanctions on 14 banks, preceded by months of similar sanctions that included 4 other Iraqi banks after they were accused of money laundering.
The Iraqi government, through the Central Bank of Iraq, has been continuing its negotiations for about two years with the US Treasury Department to lift sanctions on these banks, all of which are private banks.
https://www.alsumaria.tv/news/economy/506135/ماذا-حقق-العراق-باجتماعاته-مع-الخزانة-الأميركية-وهل-نجح-بالسيطرة-على-ب
