monetary and monetary expert Safwan Qusay believes that re-evaluating the connection between Iraqi banks and the us sanctions regime on banned organizations and international locations well-knownshows additional risks going through Iraqi banks, noting that “the extent of due diligence has risen from moderate to excessive, because of this subjecting Iraqi bank clients to greater scrutiny.”
Qusay added in a declaration to “dinaropinions.com” that “the dealings of Iraqi banks with entities or people who may be categorized in the circle of risks in managing sanctioned nations may additionally result in restricting their motion in dealing within the Iraqi dinar with those entities,” explaining that “the White house administration directed america Federal Reserve and america Treasury to re-evaluate the ones members of the family, and impose restrictions on 5 new Iraqi banks, so that it will affect confidence within the Iraqi banking machine.”
He careworn that “in spite of those restrictions, there are still ten Iraqi banks operating freely in managing Citibank and JP Morgan, and controlling international economic transfers to Iraq,” noting that “there are no dangers associated with preventing dealing in greenbacks.”
He concluded via announcing: “we are hoping that the connection among the relevant financial institution of Iraq and the usa Federal Reserve will achieve sparing Iraqi banks further restrictions, and that these banks will upward thrust to work inside the global economic danger environment, as a way to spare them similarly restrictions on dealing in dollars or other currencies.”
