Experts: US sanctions against 14 Iraqi banks accused of money laundering reduce dollar sales at the currency auction
Experts: US sanctions against 14 Iraqi banks accused of money laundering reduce dollar sales at the currency auction
2022-11-27 00:44
Shafaq News/ Numerical data on currency sales to the Central Bank of Iraq showed the extent of the decline in it during the month of November, which sometimes reached less than 100 million dollars per day, after it used to exceed 250 million dollars per day, most of which goes in the form of external transfers .
Economist Nabil Al-Marsoumi said in an interview with Shafaq News agency; The US sanctions that it placed on 14 Iraqi banks on the blacklist as a result of their smuggling of dollars and their money laundering process, which was stopped by the Central Bank of Iraq after it was entering the window for selling foreign currencies behind the decrease in the central bank’s sales of dollars.
He added, “The decline is not related to the general economic situation and is not related to the general budget, but it is related to the sanctions, the US Federal Bank, by issuing orders and instructions to the Central Bank of Iraq not to deal with these private banks.”
He pointed out that “the lack of sales led to a scarcity in the supply of US dollars to the Iraqi market,” pointing out that “the price of the parallel dollar began to approach 1,500 dinars against one dollar.”
It is noteworthy that the central bank sells the dollar in an auction that it organizes daily to banks and mediation companies in order to finance foreign trade and finance the internal market in dollars, but many economists and politicians have indicated corruption in the central bank’s sales by smuggling hard currency abroad without finding solutions for that.
shafaq.com
