Hassan al-Khafaji, the chief of Iraq’s Parliamentary Investment and Development Committee, said on Wednesday the Central Bank of Iraq (CBI) is working to remove a ban from the US Treasury Department on 28 private banks, Iraqi News reported.
CBI governor Ali al-Alaq said he would send a report to the US Treasury Department asking to remove the ban, according to Iraqi News.
The United States banned 14 Iraqi banks in July 2023 from holding US dollar transactions in an effort to prevent the transfer of dollars to Iran as part of US sanctions.
The crackdown centered on financial institutions as Washington seeks to block the flow of money to Iran that could finance pro-Iran militias and other activities at odds with the US.
