Nebna criticizes granting licenses to foreign banks.. “It undermined the work of the Iraqi Bank”

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Nebna criticizes granting licenses to foreign banks.. “It undermined the work of the Iraqi Bank”

Today, Thursday, Ali Al-Zubaidi, an individual from the Al-Fatah Union, reprimanded the National Bank’s controls for giving licenses to unfamiliar and Bedouin banks to work in the Iraqi financial area, while focusing on that proceeding to concede the dollar at discounted costs to these banks adds up to squandering the nation’s portion of the dollar.

Al-Zubaidi said in a meeting with the , “Conceding licenses to these banks ought to be in the field of venture, development, credits, and drives, and not chipping away at the electronic stage,” taking note of that “these banks have subverted crafted by Iraqi banks to an exceptionally huge degree.”

He proceeded, “The section of Jordanian, Emirati, and Bay Middle Easterner banks into the dollar selling stage will cause them to contend straightforwardly with Iraqi banks,” approaching “the National Bank to reexamine these licenses or cutoff the focuses they offer overall.”

Al-Zubaidi finished up his discourse: ” These banks’ ownership of the dollar should be finished by purchasing the dollar at scaled down costs and selling it at a greater cost,” bringing up that “there is an unmistakable blunder in the National Bank’s controls in giving licenses to unfamiliar and Middle Easterner banks to work in the Iraqi financial area.”

The monetary master, Mustafa Akram Hantoush, had affirmed that the action taken by the National Bank of Iraq was to give permits to operate to Jordanian banks and work in the nation, demonstrating that it was the obligation of the National Bank to reinforce Iraqi banks rather than Jordanian ones.