US report details details of secret Iranian banking networks in Iraq
8/12/2018

A US report details Iran’s covert funding networks in Iraq and its role in destroying the country’s economy .

The report, broadcast by US-based al-Hurra, highlighted hundreds of millions of dollars of money transfers by small money-changers in Iraq and other countries under bank and commercial cover to fund the Quds Force, Hezbollah and other terrorist organizations.

He explains how Iran uses its financial arms, such as the Lebanon branch of Al Bilad, to hand over its remittances to its allies.

"The US Treasury Department has identified two crimes, the first of which is money laundering, and the second is that these funds are not washed for the sale of infant formula but to the Quds Force and the Revolutionary Guard," said Iraqi politician Antifad Qanbar.

On May 10, the US Treasury Department imposed sanctions on individuals, companies and banks in Iran, Iraq and the United Arab Emirates and was accused of involvement in funding the operations of the Quds Force of the Iranian Revolutionary Guard and Hezbollah of transferring hundreds of millions of dollars through a network of exchange shops owned by Iranians and Iraqis, Crooked, under bank and commercial cover.

"The uncertainty surrounding the Iraqi financial sector was not the result of that moment, it was always the cash operations. Cash operations and financial networks associated with corruption and money laundering were often questioned as Iraq dropped the money laundering index to the 208 index not far from Iran Which overshadows the global list. "

"There are many question marks about the economy in Iraq, some of them related to corruption, as well as Iranian influence," said John Sullivan, a former US Treasury envoy to Baghdad.

"There are private banks with significant transactions, contacts and banking ties with Iran," said Dia Khayoun, an adviser to the former finance ministry in the Iraqi government.

"Iran uses informal methods and coverings that are not in place in international banks," he said.

The decision by the US Treasury Department to highlight the work of the Iraqi financial sector has fueled suspicions of corruption that has made it a haven for many illegal activities and a source of abundant funds shared by many parties such as Da’ash, Hezbollah and the Iranian Quds Force.

"When we talk about the secret dealings of the Iranian Revolutionary Guards and the channels of secret funds that go from Iraq to Hezbollah in Lebanon and other terrorist organizations, Iraqi banks have to rethink their real duties," Sullivan said.

"The Islamic Bank of Iraq, run by Aaras Habib al-Fili, has exploited the political influence of entering the Iraqi banking sector and taking a cover to manage the cash operations associated with the Iranian Revolutionary Guard," the report said.

"Al-Bilad Bank has one branch outside Iraq located in the Lebanese capital of Beirut, and it will not need more than that window to deliver the monthly expenses of the Lebanese Hezbollah and finance its terrorist operations," the report said.

The report notes that "the direct funding Hezbollah receives from Iran has nearly doubled in the past 10 years," according to recent US reports.


"Al-Bilad Islamic Bank believes in 20 percent of any corruption deal in Iraq to Iran," said Qanbar, who was previously close to Ares Habib.

"The Iranian regime protects corruption in Iraq because corruption is an inexhaustible source of money for him," he said.

The report said that "the Central Bank of Iraq sells between 150 – 200 million dollars a day in the auction currency, and the objective of the auction is to secure cash for government spending in the local markets there is no country like Iraq is conducting a similar procedure and the reason is the entry of a huge cash mass to Iraq On the day this measure has become a subject of considerable criticism and raised a lot of doubts because it is a window exploited by parties inside and outside Iraq. "

"It is clear that the main threat to national security is no longer an advocate and terrorist organizations, but corruption, and the roles played by some countries," Sullivan said.

The report notes that "Iran has worked over the past years to turn Iraq into a strategic surplus of cash is recycled through multiple channels of financial corruption takes money from the contracts of fictitious projects, and pensions of thousands of fictitious employees thefts and bribes and kidnappings and extortion

Add financial market transactions and auction The money is laundering these funds and turning them into beneficiaries through banks, financial institutions and banking offices linked to the financial and intelligence network of the Iranian Quds Force. "

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