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Iraq cancels the license of the National Bank’s activities

IranGate
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Iraq cancels the license of the National Bank's activities
A picture shows the headquarters of the Central Bank of Iraq in Baghdad's Shorja district on March 9, 2023. (Photo by AHMAD AL-RUBAYE / AFP)

Iraq cancels the license of the Central Bank of Iran

Reuters news agency reported on Friday, February 19th that the Central Bank of Iraq has revoked the license of the largest Iranian bank, Bank Melli.

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Iraq cancels the license of the Central Bank of IranPersian

In a document dated January 31st, confirmed by two senior officials of the bank, the Central Bank of Iraq stated that the reason for this decision is the international sanctions on Bank Melli Iran.

Bank Melli Iran did not respond to Reuters’ inquiry about this document.

According to a section of the Central Bank of Iraq’s document, it is stated that due to the losses incurred by your branch in Iraq, its limited activities, inability to develop banking activities, and being included in the international sanctions list, it has been decided to cancel your license.

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