BAGHDAD, Iraq — The Iraqi parliament on Monday voted to lift sanctions imposed on Kurdish banks in November by the Iraqi Central Bank following the Kurdistan Region’s referendum. Masud Haidar, a Kurdish MP from Gorran, told Rudaw that the motion came at the request of his faction.
Ziz Kazim, an Iraqi MP from the Hikma faction, said that the parliament voted to end the measures taken against the financial institutions in the Kurdistan Region. He said the motion “commits” the Central Bank of Iraq to end the sanctions, adding that the bank has to provide monthly reports regarding the practice of its powers in the Kurdistan Region.
In November, the Central Bank of Iraq called on all Iraqi banks in the country to halt their operations in the Kurdistan Region indefinitely. It stated then that any bank that found in violations of the instructions would no longer receive foreign currency transfers from the central bank.
The move was seen as part of punitive measures taken by the government of Iraq against the Kurdistan Region in response to the vote for independence held on September 25 despite the opposition of Iraq, neighboring countries, and others including the United States.