The US Federal Reserve is pursuing five Iraqi banks

Sunday 12 August



Alsumaria News / Baghdad
The Federal Reserve Bank is pursuing five new Iraqi banks as well as the Islamic Bank of Iraq, according to news reports Sunday.

"The US Federal Reserve is pursuing five new Iraqi banks," the report quoted diplomatic sources in Iraq as saying. "A team of American advisers is in Iraq to follow up on these banks, which may be subject to the same sanctions imposed on the country's Islamic bank."


The sources pointed out that "the investigations on the relationship of these banks, or exploitation by Iran in the remittances began since the era of former US President, Barack Obama, but only sued one bank only."

According to the sources, "investigations have been activated during the past months, including investigations," according to sources, "money transfer of funds, in addition to suspicious transfers of money to Lebanon, and then to Syria, along with some Asian countries and Eastern Europe.

Last year the United States put the Iraqi Islamic bank Ilaf on the black list.

Blacklisting forces banks to choose between severing ties with Iranian institutions targeted by US sanctions, or cutting off the US financial system.

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