Reuters: The Iraqi Central Will Prevent 5 Local Banks From Dealing With Dollars
Economy Yesterday, 17:39 | Baghdad today- Baghdad Two informed sources reported today, Sunday (February 16, 2025), that the Central Bank of Iraq will prevent local banks from dealing with dollars.
“The Central Bank of Iraq will prevent 5 local banks from dealing with dollars in the US Treasury request.” The two sources added, “3 companies for payment services will be banned from dealing in dollars according to the US Treasury request,” the two sources added.
They pointed out, “America has submitted its request due to severe cash violations and the smuggling of the dollar outside the country.”
The Central Bank of Iraq had previously denied today, Sunday, that Iraqi banks were subjected to international sanctions, calling for “the adoption of official channels to find out the latest news.”
But economist Ziad Al -Hashemi, today, confirmed that the American treasury started the campaign of punishment for Iraqi banks and companies after its meeting with the Central Bank.
Al -Hashemi said in a post on his Facebook account, which was followed by “Baghdad Today” that “the
American (non-military) operations were launched towards Iraq and the first campaign targeted the punishment of Iraqi (decorative) banks on charges of facilitating fraudulent transfers and financing groups and countries, punishing and supporting terrorism.” He added that
“the US sanctions officially arrived at the concerned Iraqi authorities (according to internal sources) by the US Treasury Financial Intelligence Office, which is concerned with monitoring, following up and punishing entities and individuals who support terrorism, armed activities and American punishment.” He continued:
“The punished Iraqi banks are from the category of small and medium banks, which seem to be active behind the scenes with activities that harm the Iraqi economy and in violation of the American and international sanctions system, the leakage and evasion of the Iraqi dollar for foreign trade.”
https://baghdadtoday.news/268076-رويترز-المركزي-العراقي-سيمنع-5-بنوك-محلية-من-التعامل-بالدولار.html
Rashid Bank Capital Jumps From 2 Billion To 50: What Are The Reasons? Does Timing Have A Relationship? –
Economics | 13-02-2025, 14:11 | Baghdad today- Baghdad The specialist in the banking and financial affairs, Alaa Al-Fahd, revealed today, Thursday (February 13, 2025), the reason for the increase in the capital of Al-Rashid Bank at this time. Al-Fahd told “Baghdad Today” that
“this measure is among the government reform of banking policy by expanding the size of banks and their participation in economic development, as
there is a reform policy that it pursues for a government with the Central Bank of Iraq, with the help of international companies in order to develop banking work and increase bank branches, and
for this reason There was obligatory to increase the capital according to the requirements of the stage. “
And that ” today the capital (2) billion dinars is not commensurate with the current reality, because the Rashid Bank possesses the number of branches and number of shareholders, and
for this the increase in the bank’s capital, will contribute to the classification of the current situation, and contribute to upgrading the current reality.”
“This increase is the beginning of the restructuring of banks, especially the bankers of Al-Rafidain and Al-Rashid, and
made them at a level that meets the ambition of the current stage, and
is at the level of development and the level of the need of the Iraqi economy.”
The Federal Cabinet agreed, during its session last Tuesday, to increase the capital of Al-Rashid Bank from 2 billion dinars to 50 billion dinars, from calculating the expansion reserves for the bank, provided that the Iraqi Ministry of Finance takes the necessary measures for implementation.
Earlier, the government announced ambitious plans to restructure government banks, led by Al-Rafidain and Al-Rashid bank, with the aim of converting them into more modern and efficient financial institutions capable of meeting the needs of the growing Iraqi economy.
The Council of Ministers also decided in its session held on January 13, 2025 to establish a completely new bank,
dependent on the latest digital banking technologies, and aims
to provide integrated banking services to individuals and companies, whether inside or outside Iraq.
https://baghdadtoday.news/267813-رأس-مال-مصرف-الرشيد-يقفز-من-2-مليار-إلى-50-ما-الأسباب-الموجبة؟-وهل-للتوقيت-علاقة؟-.html
Gold Prices Stabilize At Highest Level As Dollar Declines In Baghdad
Stock Exchange Economy News – Baghdad The prices of “foreign and Iraqi” gold stabilized in the local markets in the capital, Baghdad, today, Sunday (February 16, 2025), at its highest level in the country.
Gold prices in the wholesale markets on Al-Nahr Street in the capital, Baghdad, this morning recorded a selling price for one mithqal of 21 karat Gulf, Turkish and European gold of 608 thousand dinars, and a purchase price of 604 thousand dinars.
The selling price of one mithqal of 21-karat Iraqi gold was recorded at 578 thousand dinars, and the purchase price was 574 thousand.
As for gold prices in goldsmiths’ shops, the selling price of a mithqal of 21-karat Gulf gold ranges between 610,000 and 620,000 dinars, and the selling price of a mithqal of Iraqi gold ranges between 500,000 and 510,000 dinars. https://economy-news.net/content.php?id=52808
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