What is the relationship of Arab banks in Iraq? A parliamentarian reveals an American plan to maintain the dollar crisis
What is the relationship of Arab banks in Iraq? A parliamentarian reveals an American plan to maintain the dollar crisis
9-27-2023
Information/Private.
Today, Wednesday, Member of Parliament Ali Al-Jamali revealed an American plan to continue the dollar crisis in Iraq, while stressing that the recent measures issued by Washington to ban Iraqi banks from auctioning currency sales worked to impose the control of the branches of Arab countries’ banks over the dollar.
Al-Jamali said recently to the Maalouma Agency, “The five banks affiliated with the Arab countries are working to blackmail the Iraqi merchant in the process of buying the dollar in order to manage trade and import affairs,” noting that “the suspension of the Iraqi banks was deliberate in order to weaken the Iraqi dinar against the American dollar.” .
He continued, “These banks are working to buy the dollar from the electronic platform of the Central Bank at the official price and sell it in the parallel market,” pointing out that “the continuation of the crisis of the difference in the official exchange rate from the parallel occurs as a result of the measures that work to weaken the dinar against the dollar.”
Al-Jamali concluded his speech, saying: “The banks earn double the wages because they take at the official price and sell in the parallel market,” adding that “the recent measures issued by Washington to ban Iraqi banks from the currency auction work to impose the control of the branches of Arab countries’ banks inside Iraq.”
During the current period, American measures have destroyed the Iraqi currency by imposing sanctions on Iraqi banks, and banning the dollar under many pretexts, which led, in one way or another, to a severe financial crisis in Iraqi markets. The US Treasury also decided, earlier, to stop 14 Iraqi banks from trading. Trading and selling hard currency, which caused the dollar exchange rates to rise in local markets.
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