Search results
Results from the WOW.Com Content Network
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 ...
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.
Iraq has banned eight local commercial banks from engaging in U.S. dollar transactions, taking action to reduce fraud, money laundering and other illegal uses of U.S. currency days after a visit ...
Dijlah & Furat Bank; Economy Bank Iraq; Gulf Commercial Bank; Taawen Islamic Bank; Industrial Union Investment Bank; Investment Bank of Iraq; Iraqi Middle East Investment Bank; Islamic Bank; Mosul Bank; National Bank of Iraq; North Bank; Sumer Bank; Union Bank of Iraq; Bank Audi ِWorld Islamic Bank ِElaf Islamic Bank; United Investment Bank ...
The fraud resulted in a state of chaos and instability in government banking systems. [11] [12] In October 2022, Iraq's acting finance minister Ihsan Jabbar shocked the nation by announcing an investigation into US$2.5 billion that had gone missing from Iraq's General Commission for Taxes, a department in the Ministry of Finance. It was ...
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.)
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 ...
Since then, TBI has grown into a leading bank in Iraq through strengthening its financial position, assets, and equity. TBI started with paid-up capital of US$5 million (authorised capital: USD 100 million) in July 2003 and the paid-up capital increased on 2020 to $3 billion from $2.3 billion in 2019 as part of its plan to raise the bank's ...