monetary expert Omar Al-Halbousi confirmed today, Monday, that the current choice of the central financial institution of Iraq concerning real property properties with a value exceeding 100 million dinars came in light of foremost challenges dealing with the Iraqi banking sector.
Al-Halbousi said in a statement to “dinaropinions.com” that “the Iraqi banking area continues to be tormented by foremost failures, because the paintings of banks is focused on making the most of the dollar and transfers instead of growing banking sports. further, more than 25 Iraqi banks are difficulty to sanctions because of money laundering cases, which will increase the fragility of the banking region.”
Al-Halbousi added that “Iraqi banks are going through principal demanding situations this year, which includes the lack of improvement and the ongoing exploitation of Iraq by means of external parties to profit and transfer earnings overseas without establishing funding tasks, in addition to the ongoing American doubts about the paintings of those banks and the opportunity of implementing new sanctions due to violating the sanctions imposed on Iran and anti-money laundering legal guidelines.”
He mentioned that “despite the significance of the shift towards prepared banking operations, the beginning requires consolidating the work of banks and preventing fraud, especially with regard to the latest choice that can be circumvented via an agreement between the seller and consumer to reduce the price of the assets paid inside the legit papers while paying the distinction outdoor of them.”
Al-Halbousi concluded his speech by means of announcing, “The Iraqi citizen still lacks confidence in the banking zone due to preceding studies, consisting of the lack of ability of banks to pay citizens’ money while wanted, which makes the banking zone in dire need of radical reforms to set up accept as true with with citizens and global our bodies.”
