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The fund also eventually received money (US$1.724 billion) from seized and "vested" Iraqi bank accounts and funds seized by coalition forces ($926.7 million). $650 million of this amount belongs to Uday Saddam Hussein, the older son of the former Iraqi president. [2] (This money was also used during the transition period before the DFI was set up.)
Bānk-e Mellī-e Īrān (the national bank of Iran) [1] [2] Basrah International Bank for Investment; Byblos Bank (Lebanese) [1] Commercial Bank of Iraq; Credit Bank of Iraq; Dar Es Salaam Investment Bank; Dijlah & Furat Bank; Economy Bank Iraq ِElaf Islamic Bank; FIRST IRAQI BANK; Ghana Bank; Gulf Commercial Bank; Industrial Union Investment Bank
Iraq's central bank will ban five more local banks from engaging in U.S. dollar transactions, a move that comes after meetings with U.S. Treasury officials in efforts to combat money laundering ...
The Executive Order also declares a national emergency to deal with the threat to a peaceful reconstruction of Iraq, which US Presidents have renewed every year since, most recently in May 2024. [1] [2] The order's full title is Executive Order Protecting the Development Fund for Iraq and Certain Other Property in Which Iraq Has An Interest.
Iraq's central bank must address continued risks of the misuse of dollars at Iraqi commercial banks to avoid new punitive measures targeting the country's financial sector, a top U.S. Treasury ...
The 14 banks facing the ban issued a joint statement urging the Iraqi government to address the issue and warning that banning a third of Iraq's private banks from dollar trading would not only ...
WASHINGTON/BAGHDAD (Reuters) -The United States has barred 14 Iraqi banks from conducting dollar transactions, the Wall Street Journal reported on Wednesday, citing U.S. officials. The ban, which ...
The Ministry of Finance (MoF; Arabic: وزارة المالية) is the cabinet-level ministry responsible for managing the financial affairs of the Government of Iraq.It formulates financial policies, receives and manages all revenues of the state, prepares the general budget bill, oversees government expenditure, and operates a number of agencies.