What is the connection of the American company “Oliver Wyman” to the issue of Iraqi banks subject to sanctions?
What is the connection of the American company “Oliver Wyman” to the issue of Iraqi banks subject to sanctions?
7-14-2026
Information / Baghdad –
Economic expert Mustafa Faraj raised questions on Tuesday regarding the role of the American company Oliver Wyman in the case of Iraqi banks subject to sanctions, emphasizing that a large number of them adhere to international banking standards despite the continued restrictions imposed on them.
Faraj told the Information Agency that “the US Federal Reserve controls the banking system in Iraq, while Washington has imposed sanctions on more than 30 private banks under the pretext of violating banking regulations.”
He added that “about 80 percent of the banks that were sanctioned are fully compliant with international banking regulations, yet the US sanctions have not been lifted from them to date.”
He explained that “the American company Oliver Wyman is responsible for reviewing all procedures related to the sanctioned Iraqi banks, but it has not worked to lift these restrictions despite the fact that most banks comply with the regulations and instructions.”
He pointed out that “the United States dominates the financial and banking sector in Iraq by controlling the dollar and influencing exchange rates in the parallel markets, which causes economic instability and negatively impacts the investment climate.” He emphasized that “this banking chaos is driving investors away from investing in the Iraqi banking sector.”
It is worth noting that the Central Bank of Iraq contracted with Oliver Wyman to conduct a comprehensive review of the situation of private banks, particularly those restricted or prohibited from dealing in dollars, with the aim of developing technical solutions for their reintegration into the international financial system.
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