Hisham Al-Baydani, an economic affairs researcher, stated on Sunday the potential of the Iraqi government adopting efforts to avoid banks falling into the trap of the US Treasury, particularly with reference to the sanctions imposed on select banks from time to time.
“Iraq has reserves of more than 100 billion dollars in the United States of America,” Al-Baydani informed Al-Maalouma, “and this matter necessitates the government strengthening the country’s sovereignty over private banks, which number more than 70 private banks.”
“The government’s measures could block the way for America to impose any new sanctions,” he noted, “after it had previously imposed sanctions on 14 banks that caused a scarcity of dollar supply in the local market, which still deals with financial liquidity in ways that are far from modern.”
He emphasized the significance of the Central Bank adopting binding standards for the growth of banking activities in order to avoid any imposition of American guardianship based on money laundering allegations.
