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Post by roxy22222222 on Mon Aug 28, 2017 10:08 pm

As I have stated on numerous occasions, any bank that wants to do business with Iraq can. And any bank that wants to do financial transactions can.  The lifting of sanctions on Iraq several years ago achieved this. That being said, doing business with a central bank in Article XIV is risky and very few if any will do business with Iraq while they are still under IMF Article XIV. Until they achieve the requirements of Article VIII and accept it, most foreign banks will shy away from Iraq. Think of IMF Article VIII as an international standard.

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