Economist: The United States paralyzed banking in Iraq

Economist: The United States paralyzed banking in Iraq


Economist - The United States paralyzed banking in IraqInformation/private..
Economic expert Ahmed Abd said on Tuesday that removing sanctions from Iraqi banks restores citizen confidence in banking, noting that citizens have lost confidence recently after America manipulated by imposing those sanctions.

Abdul said in a statement to the Al-Ma’louma Agency, “The most important files of Sudanese’s visit to Washington were removing sanctions from the 34 Iraqi banks,” noting that “punishing those banks was an unfair decision and contradicts all banking laws.”

He continued, “Banks that commit errors are subject to fines in accordance with international banking law, while America has permanently suspended work in those banks,” pointing out that “American sanctions have paralyzed banking work in Iraq.”

Ahmed concluded his speech: “We need to diversify our foreign currencies, especially in our dealings with neighboring countries, in order to limit the US dollar.”

It is noteworthy that America imposed sanctions on 34 Iraqi banks recently, which raises concerns in the Iraqi banking sector and the citizen’s lack of confidence in banking.