Episode notes
In a major development for Iraq’s financial sector, informed sources have link to My FX Buddies Blog revealed the expected timeline for the return of Iraqi banks that were previously punished by the U.S. Treasury and barred from dealing in dollars.
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The video previous to this can be found here: https://www.youtube.com/watch?v=pNK1pw5Gssg Iraq Must End Multiple Exchange Rates — They Won’t Hold if Oil Prices Crash 🔥
According to Al-Jabal, several sanctioned banks have been working directly with the Central Bank of Iraq (CBI) and U.S. authorities to meet compliance requirements, with clear progress now being reported. Sources confirm that: 🔥 • About 7 Iraqi banks are currently in the evaluation phase These banks were sanctioned last year for failing to meet international compliance standards, or for involvement in networks linked to corruption, sanctions evasion, or unauthorized foreign transactions. 🔥 • The U.S. Treasury has given preliminary approval This approval is conditional, pending full adherence to anti-money-laundering (AML) and counter-terrorist-financing (CTF) standards. 🔥 • 2026 will be the full compliance monitoring year A specialized firm — in coordination with the CBI and U.S. Treasury — will oversee their reforms throughout 2026. 🔥 • Banks may RETURN to dollar operations in 2027 If they meet all requirements, they could be reinstated at the start of 2027, allowing them to engage again in foreign currency transactions, especially USD. This marks one of the biggest steps in Iraq’s banking cleanup and modernization efforts. ✨ Reset Naturally — Grab the Holiday Helper Plan 🎁 https://buymeacoffee.com/tishwash/e/479454