Iraq Central Bank Eases Financial Restrictions on Kurdistan Region

      Published on Wednesday, 4 October , 2017      57 Views     
Iraq Central Bank Eases Financial Restrictions on Kurdistan Region

  • World News

Iraq’s central bank on Wednesday eased financial restrictions imposed on the Kurdistan region over its independence vote after receiving a pledge of cooperation from Kurdish banks, an Iraqi banking source said.

All but four Kurdish-owned banks were allowed to resume dollar and foreign currency transfers on Wednesday, the source told Reuters.



The central bank had informed the Kurdistan Regional Government (KRG) on Tuesday it would stop selling dollars to the four Kurdish banks,

and would halt all foreign currency transfers to the autonomous region, banking and government sources told Reuters.

The measures were taken in retaliation for the Sept. 25 referendum, in which the region voted overwhelmingly for independence despite opposition from Baghdad and Iraq’s neighbors Iran and Turkey.

The measures aim to tighten the control of the central bank over the Kurdish banking industry.

The central bank will maintain its dollar sale ban for four banks pending a review of their cooperation, the banking source said.

“The dollar sale prohibition will be lifted if the central bank sees that the four banks are really cooperating in disclosing their financial transactions,” the source said.

The Shi‘ite Arab-led Iraqi government has rejected an offer by the Kurdish government to discuss independence. It has demanded that it cancel the referendum result or face continued sanctions, international isolation and possible military intervention.



http://www.novinite.com/

Keywords:
Category World News | 2017/10/04 latest update at 10:31 PM
Source : | Photocredit :
58 Views
Comments Add comment



Related Articles

The editorial staff of Saudi Arabia Today would like to give all of its readers from Gulf and Saudi Arabia and the whole world the opportunity to participate actively in the development of the website! If you have something interesting, fun, scandalous - just something worth to be seen from more people. Capture it and share it in the Saudi Arabia Today with a short text.

Do you have information you want to reach our readers?

Send article/s

You can subscribe to our Facebook, Twitter and Google pages or use our RSS feed channel to always read the most important news about Saudi Arabia, the Gulf and the world.


Sponsored Publications



Saudi Alhokair’s mall unit files for IPO, offering in second quarter: sources
Saudi Arabia Saudi Arabia news

Saudi Alhokair’s mall unit files for IPO, offering in second quarter: sources

Saudi Arabia’s Fawaz Alhokair Group plans to offer shares in its shopping malls business in Riyadh in the…

Saudi Arabia new rules

Property prices continue to fall in key UAE markets

UAE banks invest Dh87 billion in Saudi Arabia, Egypt

King Salman receives dignitaries in Riyadh King

King Salman receives dignitaries in Riyadh

The Kingdom’s Grand Mufti Sheikh Abdul Aziz Al-Asheikh, senior scholars, ministers and a group of citizens called on…

Saudi King Salman reshapes country’s political and security affairs council King

Saudi King Salman reshapes country’s political and security affairs council

Saudi King Salman on Thursday announced a new list of appointees to key positions in the country’s political…

Saudi Arabia’s Prince Talal bin Abdulaziz has died King

Saudi Arabia’s Prince Talal bin Abdulaziz has died

Saudi Arabia’s Prince Talal bin Abdulaziz passed away on Saturday, family members and Saudi media said on Twitter.…

Bahraini crown prince meets Saudi officials in Riyadh King

Bahraini crown prince meets Saudi officials in Riyadh

Bahrain Crown Prince Salman bin Hamad Al-Khalifa held talks with Saudi officials in Riyadh this week. His visit…

GULF TV

Popular in GULF TV

PIRELLI “DREAMING” – THE CAL 2019 making of Full Version | Fashion Channel

1898 Views

A photographic tale of the aspirations of four women and their determination to achieve their goals, each one…

Latest videos in GULF TV

Events

Lifestyle

Culture

Sport

Science & Technology

Government