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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 banks are banned from accessing the Iraqi central bank's daily dollar auction, a main source of hard currency in the import-dependent country that has become a focal point of a U.S. crackdown ...
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.
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 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.)
Although lingering suspicions about the United States remained, Iraq welcomed greater, even if indirect, American diplomatic and military pressure in trying to end the war with Iran. For the most part, the Iraqi government believed the United States supported its position that the war was being prolonged only because of Iranian intransigence.
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 ...
EO 13303 is part of a broader endeavor by the Bush administration to exert control over Iraqi oil revenues. The plan centers on the Development Fund for Iraq, created by the United Nations and nominally controlled by the United States, with advice from the World Bank and the International Monetary Fund (IMF). The second part of the plan is EO ...