Al-Huda Bank did not participate in the Foreign Currency Selling Window in 2023, CBI states

Economy

30-01-2024, 10:56

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Baghdad-INA

The Central Bank of Iraq-CBI revealed on Tuesday, that the US Treasury Department had imposed sanctions on Al-Huda Bank of Iraq, while indicating that the bank did not participate in the foreign currency buying and selling window during the year 2023.

“US Treasury imposed sanctions on Al-Huda Bank of Iraq due to its activities in 2022”, stated CBI in a statement received by the Iraqi News Agency (INA).

"The bank did not participate in the window for Buying And Selling Foreign Currency during 2023," the statement added. "Al-Huda Bank continues to provide its banking services without dealing in US dollars and is allowed to deal in other foreign currencies."