Home
Clarification from the Central Bank of Iraq
October 05, 2023
The Director General of the Department of Investments and Foreign Transfers, Mazen Sabah Ahmed,
issued a clarification regarding the statements attributed to him in Reuters, saying that they included journalistic formulations that were reported by the agency in an inaccurate form. Ahmed confirmed:
The Central Bank guarantees dollar deposits, and
the citizen who deposited his money in dollars with any Iraqi bank previously or by the year 2024 has an inherent right to receive these amounts in cash and in US dollars.
There was no mention in the press interview
On the contrary, there are measures being taken that will contribute to reducing the difference..
The reforms undertaken by the Central Bank of Iraq aim to
The announcement that the date of 1/1/2024 will be the beginning of stopping cash withdrawals includes transfers received only from outside Iraq according to certain arrangements that guarantee the sustainability of the business and does not in any way include citizens’ balances in US dollars.
Central Bank of Iraq
https://cbi.iq/news/view/2432
October 05, 2023
The Director General of the Department of Investments and Foreign Transfers, Mazen Sabah Ahmed,
issued a clarification regarding the statements attributed to him in Reuters, saying that they included journalistic formulations that were reported by the agency in an inaccurate form. Ahmed confirmed:
The Central Bank guarantees dollar deposits, and
the citizen who deposited his money in dollars with any Iraqi bank previously or by the year 2024 has an inherent right to receive these amounts in cash and in US dollars.
There was no mention in the press interview
- of expectations that the exchange rate would reach 1,700, and
that the Central Bank has its own tools that it uses to reduce the difference between the two prices, and
there are no indications that the exchange rate in the parallel market will reach this level.
On the contrary, there are measures being taken that will contribute to reducing the difference..
The reforms undertaken by the Central Bank of Iraq aim to
- achieve compliance of the bank and the banking system in general with international compliance standards, and to
prevent the dollar from reaching parties prohibited from obtaining it or speculating with it.
The announcement that the date of 1/1/2024 will be the beginning of stopping cash withdrawals includes transfers received only from outside Iraq according to certain arrangements that guarantee the sustainability of the business and does not in any way include citizens’ balances in US dollars.
Central Bank of Iraq
https://cbi.iq/news/view/2432
