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The Central Bank of Iraq issues the third package to facilitate the procedures for obtaining the US dollar
March 14, 2023
The Central Bank of Iraq decided to issue the third package to facilitate the procedures for ordering the US dollar, which includes the following:
1. In order to facilitate obtaining dollars for citizens wishing to travel abroad, the official exchange rate of "1320 dinars per dollar” will be calculated by the electronic payment card issued by the licensed authorities when used abroad, as follows:
2. The Central Bank of Iraq invites all banks and Exchange Companies to communicate with money transfer companies (Western Union, MoneyGram and others) to obtain a license to work in Iraq to meet the growing demands on personal transfers,
with the commitment of the Central Bank of Iraq to settle their accounts with those companies at the official rate, and
the central bank will urge those companies to expand their agent base in Iraq, and
it is possible that these transfers may include some types of simple commercial transfers later.
3. Transfers of gold importers and their credits to companies registered with the Central Organization for Standardization and quality control at the Ministry of planning will be covered.
Central Bank of Iraq
Information Office
2023/3/14
https://cbi.iq/news/view/2276
March 14, 2023
The Central Bank of Iraq decided to issue the third package to facilitate the procedures for ordering the US dollar, which includes the following:
1. In order to facilitate obtaining dollars for citizens wishing to travel abroad, the official exchange rate of "1320 dinars per dollar” will be calculated by the electronic payment card issued by the licensed authorities when used abroad, as follows:
A - prepaid Prepaid Cards, whether they are in dollars or dinars, and they are not linked to a bank account, which makes them affordable, and with a ceiling of (10,000) dollars refillable, and the bank and licensed electronic payment companies have the right to issue them.
B-credit cards (Credit Cards), with the ceiling determined by the bank according to its classification of the customer (Gold, Silver, Platinum), with the possibility of enhancing what was used from it later.
C-debit payment cards (Debit cards), which are linked to the customer's account with the bank (including localized salaries) and which can be used to pay in dollars according to the customer's balance with the bank, and based on the official exchange rate of the dollar.
D-The Traveler's share of the cash dollar will be in the amount of (2000) dollars starting from Sunday, corresponding to 2023/3/19, with the possibility of using the mentioned cards to allow citizens to cover their requests from the dollar, and The Citizen avoids carrying large amounts of cash, in line with the trends of the countries of the world to leave the use of cash except in a narrow range.
E-the Central Bank of Iraq's daily sales of cash dollars will continue at their levels without reduction, to banks, exchange companies and intermediary companies by buying and selling authorized foreign currency, for the purpose of securing citizens ' requests for the reported purposes.
2. The Central Bank of Iraq invites all banks and Exchange Companies to communicate with money transfer companies (Western Union, MoneyGram and others) to obtain a license to work in Iraq to meet the growing demands on personal transfers,
with the commitment of the Central Bank of Iraq to settle their accounts with those companies at the official rate, and
the central bank will urge those companies to expand their agent base in Iraq, and
it is possible that these transfers may include some types of simple commercial transfers later.
3. Transfers of gold importers and their credits to companies registered with the Central Organization for Standardization and quality control at the Ministry of planning will be covered.
Central Bank of Iraq
Information Office
2023/3/14
https://cbi.iq/news/view/2276
