Economic Monitor: 35 Iraqi banks out of 72 sanctioned by the US for “snitching”
Economic Monitor: 35 Iraqi banks out of 72 sanctioned by the US for “snitching”
2025-08-06 03:16
Shafaq News – Baghdad
The Echo Iraq Observatory, which specializes in economic affairs, revealed on Wednesday that 35 of the 72 banks operating in Iraq are subject to US sanctions, noting that among them is the Bank of Baghdad, which holds accounts for the US embassy and its employees.
The observatory explained, in a report it prepared on the matter and received by Shafaq News Agency, that banks operating in Iraq are divided between Iraqi, Arab, and foreign assets, and that the sanctions imposed by the US Treasury Department on these banks prohibit transactions in dollars.
The Observatory noted that the latest bank to be sanctioned was the Baghdad International Bank, due to a “snitching” by its former managing director. The Observatory confirmed that this was done by sending an email to the US Treasury Department, stating the bank’s name, its illegal dollar transactions, and its cooperation with banned entities.
He pointed out that the Central Bank of Iraq responds to these American inquiries, and in the event of a delay or failure to respond, the US Treasury Department issues sanctions against the bank in question.
shafaq.com
