In its latest decision, the Central Bank of Iraq announced a ban on conducting transactions in US dollars by any means with the International Development Bank (International Development Bank), after the US Treasury Department imposed sanctions on it.
According to the decision signed by Ammar Hamad Khalaf, acting deputy governor of the Central Bank of Iraq, the bank will be removed from the list of banks authorized to conduct transactions and transfer dollars for international transactions.
This decision by the Central Bank comes within the framework of compliance with international financial procedures and the sanctions imposed by the US Treasury on a number of financial institutions in Iraq.
The Central Bank of Iraq stressed that all licensed banks and financial institutions must comply with this decision as soon as possible and halt all dollar transactions with the aforementioned bank.
