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Ali al - 2 Allaq - 2 Haider al - 2 Shamma - 2 Ahmed Rasheed - 2 Timour - 2 Richard Chang - 2 Ahmed Saad - 1
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Search resuls for: "Iraq's Central Bank"


4 mentions found


☆ U.S. Treasury official says Iraq must act to avoid further action on banks
  + stars: | 2023-09-14 | by ( Timour Azhari | ) www.reuters.com   time to read: +6 min
Employees walk at the headquarters of the Central Bank of Iraq in Baghdad, Iraq August 15, 2023. Despite the crackdown, the senior U.S. Treasury official, who spoke on condition of anonymity, said there were still other Iraqi banks operating with risks "that must be remediated". Iraq's central bank governor has said Iraq is committed to implementing tighter financial regulations and combating the smuggling of dollars. The central bank did not immediately respond to a request for comment on Thursday. However, there were still "vested interests comfortable with the status quo that can create friction to driving change," the Treasury official said, without identifying who these were.
Persons: Ahmed Saad, Farhad Alaadin, Alaadin, Saddam Hussein, Mohammed Shia Al, Timour Azhari, Alexander Smith Organizations: Central Bank of, REUTERS, Treasury, U.S, Reuters, Iraqi, U.S . Federal, Iraq, U.S . Treasury, Thomson Locations: Central Bank of Iraq, Baghdad, Iraq, Iran, BAGHDAD, U.S, United States, Iraqi, Iranian, Tehran, Iraq's
☆ Sanctioned Iraqi banks say they are ready to face audit, warn of dinar slide
  + stars: | 2023-07-28 | by ( Ahmed Rasheed Timour Azhari | Ahmed Rasheed | Timour Azhari | ) www.reuters.com   time to read: +2 min
U.S. financial authorities last week barred 14 Iraqi banks from conducting dollar transactions as part of a wider crackdown on dollar smuggling to Iran via the Iraqi banking system, Iraqi central bank officials have said. Iraqi central bank (CBI) Governor Ali al-Allaq said on Wednesday the institution was following up on the issue and he had no indication the U.S. would sanction more Iraqi banks. He also noted that other banks were able to cover the market's needs for dollar transactions, with the 14 sanctioned banks representing just 8% of external transfers. The 14 banks have been banned from undertaking dollar transactions but can continue to use Iraqi dinars and other foreign currencies. The latest U.S. sanctions, along with previous ones on eight banks, have left nearly a third of Iraq's 72 banks blacklisted, two Iraqi central bank officials said.
Persons: Ali al, Allaq, Haider al, Shamma, Ahmed Rasheed, Timour, Richard Chang Organizations: U.S . Treasury Department, New York Fed, CBI, U.S ., Thomson Locations: BAGHDAD, Iraqi, United States, Iran, U.S, Tehran, Iraq's, Baghdad
☆ Iraqi banks hit with dollar ban say they are ready to challenge measures
  + stars: | 2023-07-28 | by ( Ahmed Rasheed Timour Azhari | Ahmed Rasheed | Timour Azhari | ) www.reuters.com   time to read: +3 min
U.S. financial authorities last week barred 14 Iraqi banks from conducting dollar transactions as part of a wider crackdown on dollar smuggling to Iran via the Iraqi banking system, Iraqi central bank officials have said. U.S. State Department deputy spokesperson Vedant Patel said the measures were not sanctions, as they have been referred to by Iraq's Central Bank governor. Iraqi central bank (CBI) Governor Ali al-Allaq said on Wednesday the institution was following up on the issue and he had no indication the U.S. would impose "sanctions" on more Iraqi banks. The 14 banks have been banned from undertaking dollar transactions but can continue to use Iraqi dinars and other foreign currencies. The latest U.S. measures, along with previous curbs on eight banks, have left nearly a third of Iraq's 72 banks blacklisted, two Iraqi central bank officials said.
Persons: Vedant Patel, Patel, Ali al, Allaq, Haider al, Shamma, Ahmed Rasheed, Timour, Richard Chang, Daniel Wallis Organizations: . State Department, Iraq's Central Bank, Treasury Department, Federal Reserve Bank of New, Central Bank of, U.S . Treasury Department, New York Fed, CBI, U.S ., Thomson Locations: BAGHDAD, Iraqi, United States, Iran, Federal Reserve Bank of New York, U.S, Tehran, Iraq's, Baghdad
☆ Iraq to allow trade with China in yuan - state media
  + stars: | 2023-02-22 | by ( ) www.reuters.com   time to read: +1 min
DUBAI, Feb 22 (Reuters) - Iraq's central bank said on Wednesday it planned to allow trade from China to be settled directly in yuan for the first time, in an attempt to improve access to foreign currency. The central bank could, as part of its plan, boost the balances of Iraqi banks that have accounts with Chinese banks in yuan, it said in a statement. Another option would be to boost local banks' balances via the central bank's accounts with JP Morgan and Development Bank of Singapore (DBS), it added. The first option would depend on the central bank's yuan reserves, while the other would use the bank's U.S. dollar reserves at JP Morgan and DBS. The two banks would convert the dollars to yuan and pay the final beneficiary in China, Salih explained.
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