Abed Rabbo: Jordanian banks are swallowing up the Iraqi economy and the central bank is dealing with double standards

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Abed Rabbo: Jordanian banks are swallowing up the Iraqi economy and the central bank is dealing with double standards

Financial master Ahmed Abd Rabbo affirmed on Wednesday that the National Bank of Iraq is working duplicatively in allowing licenses to unfamiliar banks and forcing sanctions on Iraqi banks.

Abd Rabbo said in a proclamation to the , “crafted by the National Bank of Iraq conveys a lot of duplication among neighborhood and unfamiliar banks, particularly Jordanian ones,” taking note of that “the National Bank conceded licenses to four Jordanian banks: Lodging, Jordan, Al-Ittihad, and Al-Arabi.”

He went on to say, “Giving licenses to these banks means losing control over the banking business in Iraq,” bringing attention to the fact that “Jordanian banks swallow up Iraqi banks while local banks face American sanctions.”

Abd Rabbo ended his speech by saying, The administration of the National Bank didn’t prevail with regards to managing this significant document, and it might represent a danger to the Iraqi economy,” bringing up, “We over and over requested to change the legislative head of the National Bank of Iraq, yet without much of any result.”

Experts accept that the monetary record can’t be given over in that frame of mind, as a sovereign matter influences the security and economy of the state, with the attack and entrance of these banks into the economy in an enormous manner that might make the Iraqi economy prisoner to the Jordanian banks.