The Central Bank of Iraq banned five domestic banks from facilitating U.S. dollar transactions following meetings in Dubai with representatives of the U.S. Federal Reserve and Treasury Department. Iraqi banks are often used by Iranian actors as a source of a hard currency and a means to evade U.S. sanctions. The banned banks are Al-Mashreq Al-Arabi Islamic Bank, United Bank for Investment, Al Sanam Islamic Bank, Misk Islamic Bank, and Amin Iraq For Islamic Investment and Finance. The restrictions also cover three Iraqi payment services firms: Amawl, AL-Saqi Payment, and Aqsa Payment.