Association: Iraqi banks sanctioned by the United States carry out their business normally in other currencies

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Association: Iraqi banks sanctioned by the United States carry out their business normally in other currencies

The Iraqi Private Banks Association announced on Thursday that the banks previously banned from conducting US dollar transactions are still operating normally, providing local banking services in Iraqi dinars. These banks are also free to engage in international transactions using currencies other than the US dollar, as confirmed by the Iraqi Central Bank.

According to a statement received by “Al-Mutalaa,” the Association clarified that the Central Bank of Iraq has not frozen the licenses of the 14 banks. The Central Bank is still operating and accepting deposits and offering various banking services, including granting loans. Additionally, the Association emphasized that all the banks are guaranteed their deposits through the Iraqi Deposit Guarantee Company.