Economic expert Ahmed Abd Rabbo confirmed on Wednesday that the Central Bank of Iraq is working duplicatively in granting licenses to foreign banks and imposing sanctions on Iraqi banks.
Abd Rabbo said in a statement to the Al-Ma’louma Agency, “The work of the Central Bank of Iraq carries a great deal of duplication between local and foreign banks, especially Jordanian ones,” noting that “the Central Bank granted licenses to four Jordanian banks: Housing, Jordan, Al-Ittihad, and Al-Arabi.”
He continued, “Granting licenses to these banks means losing control over the banking business in Iraq,” stressing that “Jordanian banks swallow up Iraqi banks while local banks face American sanctions.”
Abd Rabbo concluded his speech: “The management of the Central Bank did not succeed in dealing with this important file, and it may pose a threat to the Iraqi economy,” pointing out, “We repeatedly asked to change the governor of the Central Bank of Iraq, but to no avail.”
Specialists believe that the economic file cannot be handed over in this way, as it is a sovereign matter that affects the security and economy of the state, with the invasion and penetration of these banks into the economy in a large way that may make the Iraqi economy hostage to the Jordanian banks.
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