Al-Alaq: We deny issuing decisions to punish a number of Iraqi banks, with the exception of Al-Huda Bank

The Governor of the Central Bank, Ali Al-Alaq, confirmed today, Wednesday, the adoption of a series of decisions aimed at preventing a number of banks and companies from obtaining the dollar, as a result of non-compliance with local and international requirements, while explaining that these measures come within the framework of efforts to enhance compliance with anti-money laundering rules.

Al-Alaq indicated, in an interview with the official agency, followed by NRT Arabia, that there is a difference between including a bank on the sanctions list by the Office of Foreign Assets Control (OFAC), and depriving a bank of dealing in dollars, stressing that this is not a punishment as much as it is an incentive to investigate… Commitment to international standards.

He explained that the concerned banks can correct their conditions to comply with the requirements, and that there is a committee that issues dozens of decisions weekly related to issues of compliance and combating money laundering, stressing that the Central Bank conducts continuous reviews and issues decisions to deprive some banks for reasons related to compliance with instructions and rules.

Regarding reports about US sanctions, Al-Alaq denied the news that spoke of the issuance of decisions by the US Treasury to punish a number of Iraqi banks, explaining that the reports currently relate to Al-Huda Bank and the Chairman of its Board of Directors.

Al-Alaq concluded by stressing that the Central Bank seeks to regulate the external transfer operations of banks, indicating that non-compliant banks will be deprived of obtaining the dollar until they adhere to the standards and achieve the safety of external transfer operations.

NRTTV.com