From FinCEN, a bureau of the US Department of the Treasury. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. FinCEN Finalizes Financial Measure Against Iraq-based Al-Huda Bank to Combat Terrorist Financing Today [Wednesday 26th June, 2o24], the U.S. Department of the Treasury's Financial Crimes […]
By John Lee. The US Department of State has designated Harakat Ansar Allah al-Awfiya (HAAA) and HAAA Secretary General Haydar Muzhir Ma'lak al-Sa'idi, as Specially Designated Global Terrorists (SDGTs). It describes Harakat Ansar Allah al-Awfiya as an Iraq-based, Iran-aligned militia group and part of the "Islamic Resistance in Iraq (IRI)"- a front group comprised of […]
By Ahmed Tabaqchali, Chief Strategist of Asia Frontier Capital (AFC) Iraq Fund, for the London School of Economics (LSE) Middle East Centre. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. A fistful of Dinars: demystifying Iraq's dollar auction The Central Bank of Iraq's (CBI) […]
By Renad Mansour, for Foreign Affairs. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Why America Is Still Failing in Iraq U.S. military force and sanctions can't fix the country's broken politics. Click here to read the full article.
By John Lee. At a press briefing on Thursday, US State Department spokesperson Matthew Miller (pictured) said the United States has issued another 120-day waiver to allow Iraq to continue importing electricity from Iran. Addressing a question from the floor, Miller said: "... these are waivers that have been regularly issued to Iraq going back […]
From Tasnim, under a Creative Commons licence. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. The chairman of the Iran-Iraq Joint Chamber of Commerce said banking officials from the two countries are keen to expand the monetary and banking relations. There is not any […]
By John Lee. Iraqi Foreign Minister Fuad Hussein has called on the US Treasury Department to reconsider its recent imposition of sanctions on Iraqi banks. During a phone call from the US Secretary of State, Antony Blinken, Minister Hussein explained that these banks have, "an important and major role in financing ration card expenses and […]
By John Lee. Various media sources say that Iraq has banned eight local commercial banks from making transactions in U.S. dollars. This precludes these banks from taking part in the Central Bank's daily dollar auction. The banks are reported to be: Ashur International Bank for Investment; Investment Bank of Iraq; Union Bank of Iraq; Kurdistan […]
By John Lee. The US Treasury Department has sanctioned Iraq's Al-Huda Bank, and its owner and Chairman, Hamad al-Moussawi. On Monday, the Department's Financial Crimes Enforcement Network (FinCEN) said the bank, "serves as a conduit for terrorist financing, as a foreign financial institution of primary money laundering concern." Along with its finding, FinCEN proposed imposing […]
By John Lee. Iraqi budget airline Fly Baghdad has suspended operations until further notice, following the imposition of sanctions by the United States earlier this week. It said the move was in compliance with a decision of the Iraqi government. The airline added that due to the freezing of its bank accounts, it is unable […]
By John Lee. The United States has imposed sanctions on the Iraqi airline Fly Baghdad, and on its CEO, Basheer Abdulkadhim Alwan al-Shabbani. In a statement on Monday, the Department of the Treasury's Office of Foreign Assets Control (OFAC) said the airline, "provid[ed] assistance to the Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF) and its proxy […]
By Ahmed Tabaqchali, Chief Strategist of Asia Frontier Capital (AFC) Iraq Fund, for the London School of Economics (LSE) Middle East Centre. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Dinar, and the Conundrum over the Dollar and Iran A report in a […]
