Jordanian banks are sweeping Iraq.. Free licenses and unlimited facilities

Jordanian banks are sweeping Iraq.. Free licenses and unlimited facilities


Jordanian banks are sweeping Iraq.. Free licenses and unlimited facilitiesInformation/private..
Despite Jordan’s hostile policy towards Iraq in many economic and political aspects, external pressures and internal agendas are working to grant privileges and facilities, the latest of which is granting licenses to Jordanian banks, while the Central Bank of Iraq has not done anything about lifting US sanctions on Iraqi banks.

This concession falls within many concessions that include selling Iraqi oil at subsidized prices to Jordan, amid numerous warnings about these banks’ control over the Iraqi banking movement, in addition to competition from Iraqi banks that have begun to keep pace with the development of global banking systems.

*Where are the justifications!

Speaking about this file, a member of the House of Representatives, Suhaila Al-Sultani, asked the Central Bank regarding approval to grant licenses to Arab and Jordanian banks in particular, while confirming that there are many banking problems facing Iraqi banks.

Al-Sultani said in an interview with the Maalouma Agency, “We do not know what are the reasons for the Federal World Bank’s punishment of Iraqi banks while it agreed to grant licenses to Jordanian banks,” noting that “we are waiting for the Central Bank’s response to study the extent of its compatibility with Iraq’s monetary policy.”

He continues, “Washington continues to fight Iraq over the dollar issue in order to weaken the value of the Iraqi currency,” pointing out that “there are no justifications for the Central Bank to ban dealing with many Iraqi banks.”

Al-Sultani concluded her speech: “The central duality is clear in dealing with Iraqi banks, compared to Arab banks,” indicating that “there are many financial and banking problems facing Iraqi banks.”

*Illegal licenses

In addition, the economic expert, Mustafa Akram Hantoush, criticizes the action taken by the Central Bank of Iraq, granting business licenses to Jordanian banks and operating in the country, indicating that it is the duty of the Central Bank to strengthen Iraqi banks instead of Jordanian ones.

Hantoush said, in an interview followed by Al-Maalouma, that: “The entry of Jordanian banks into Iraq and handing over to them the assets of the dollar owned by Iraq is a big mistake that the Central Bank of Iraq is responsible for,” indicating that: “It is better to strengthen the Iraqi banking sector instead of the Jordanian banks only.”

He continues: “Today we need to further consolidate the work of banks and reduce their numbers, but the Central Bank is moving towards granting new operating licenses to Jordanian banks.”

* Central failure

For his part, the economic expert, Zia Mohsen, confirms the inability of the Central Bank to impose its control over Iraqi banks, while he stressed that one of the reasons for the violations is the dominance imposed by many political parties.

Mohsen said in a statement to the Maalouma Agency, “The Central Bank of Iraq does not have the ability to control the banking system,” noting that “the main problem lies in the punishment of Iraqi banks by external parties represented by the Federal Bank.”

He points out that “the Central Bank did not succeed in managing the sanctions file and removing them from Iraqi banks,” adding that “there is a defect in the management of granting licenses to Iraqi and Arab banks as well.”

Mohsen continues his speech: “The Central Bank did not identify the problems that the banking system is suffering from, nor the dollar exchange crisis,” noting that “the reasons for the violations are the hegemony imposed by many political parties.”

Many political and popular parties criticized the courtesy shown by the Iraqi governments towards Jordan and granting it privileges and facilities, in light of their support for the usurping Zionist entity against the Palestinian people, including the use of airports, equipment and military aircraft.