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Taking Financial Measures Against Iraqi Bank and Designating its Owner [ https://www.state.gov/taking-financial-measures-against-iraqi-bank-and-designating-its-owner/ ] 01/29/2024 11:31 AM EST
Matthew Miller, Department Spokesperson
The U.S. Department of the Treasury is today taking action to protect the international financial system from being exploited by money launderers and terrorist financiers connected to Iran’s malign activities.  Specifically, Treasury is identifying Iraq’s Al-Huda Bank as a foreign financial institution of primary money laundering concern and proposing to sever Al-Huda Bank from accessing the U.S. financial system.  Treasury is also designating the owner and head of Al-Huda Bank, Hamad al-Moussawi, for his support to Iran’s Islamic Revolutionary Guards Corps-Qods Force and Iran-aligned militia groups in Iraq.
The United States will continue to work with our partners in Iraq and around the world to support the economic aspirations of the Iraqi people. It is vital that we work together to safeguard the Iraqi financial system from malign actors like Al-Huda Bank and its foreign sponsors that fuel violence which threatens the lives and livelihood of U.S. and Iraqi citizens alike.
“The Department of the Treasury action was taken pursuant to Executive Order 13224 [ https://www.federalregister.gov/documents/2001/09/25/01-24205/blocking-property-and-prohibiting-transactions-with-persons-who-commit-threaten-to-commit-or-support ]””, as amended.  For more information on this designation, see Treasury’s press release [ https://home.treasury.gov/news/press-releases/jy2053 ]””.”
Tags
Bureau of Near Eastern Affairs [ https://www.state.gov/bureaus-offices/under-secretary-for-political-affairs/bureau-of-near-eastern-affairs/ ] Counterterrorism [ https://www.state.gov/subjects/counterterrorism/ ] Division for Counter Threat Finance and Sanctions [ https://www.state.gov/bureaus-offices/under-secretary-for-economic-growth-energy-and-the-environment/bureau-of-economic-and-business-affairs/division-for-counter-threat-finance-and-sanctions/ ] Iraq [ https://www.state.gov/countries-areas/iraq/ ] Office of the Spokesperson [ https://www.state.gov/bureaus-offices/under-secretary-for-public-diplomacy-and-public-affairs/bureau-of-global-public-affairs/office-of-the-spokesperson/ ] Sanctions [ https://www.state.gov/subjects/sanctions/ ] body { font-size: 1em; font-family: Arial, Verdana, sans-serif; font-weight: normal; font-style: normal; color: #333333; } ________________________________________________________________________
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