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The Central Bank publishes controls for declaring funds and their entry or exit from Iraq
October 29, 2024
Baghdad/Iraq Observer
Today, Tuesday, the Central Bank of Iraq republished the controls for declaring funds, while indicating that it allows the entry or exit of amounts less than 10 thousand dollars.
The bank said in a statement received by “Iraq Observer,” that
“in order to reduce the risks of entering and exiting funds across the Iraqi border and exploiting this in money laundering or terrorist financing operations, and based on the Anti-Money Laundering and Terrorist Financing Law No. 39 of 2025, and the provisions of Controls No. 1 of 2029.” (Amended to Regulations No. 1 of 2017), the following must be adhered to:
1. It is permitted to enter or take out amounts less than $10,000 (ten thousand US dollars) or its equivalent in other currencies without declaring them.
2. It is permitted to enter or withdraw amounts exceeding $10,000 (ten thousand US dollars) to $20,000 (twenty thousand US dollars)
provided that they are declared, with the necessity of showing what supports the purpose of entering or withdrawing these amounts, and
in the event that they are not available Identification documents: The traveler must submit an undertaking to bring these documents after (30) days from the date of the declaration.
3. It is prohibited to enter or withdraw amounts exceeding $20,000 (twenty thousand US dollars) or its equivalent in other currencies.
The process of entering or withdrawing these amounts shall be exclusively through financial institutions.
4. It is prohibited to bring in or take out amounts exceeding (1,000,000) dinars (one million Iraqi dinars), even if they have been declared. The amount will be seized and legal measures will be taken against it.
5. Declaration of precious stones and precious metals if their value exceeds (10,000) ten thousand US dollars.
6.Declaration of financial instruments that are negotiable to bearer or transferred inside or outside Iraq through a person, postal service, shipping service, or any other means, and whose value exceeds (10,000) Ten thousand US dollars.
https://observeriraq.net/البنك-المركزي-ينشر-ضوابط-التصريح-عن-ال/
October 29, 2024
Baghdad/Iraq Observer
Today, Tuesday, the Central Bank of Iraq republished the controls for declaring funds, while indicating that it allows the entry or exit of amounts less than 10 thousand dollars.
The bank said in a statement received by “Iraq Observer,” that
“in order to reduce the risks of entering and exiting funds across the Iraqi border and exploiting this in money laundering or terrorist financing operations, and based on the Anti-Money Laundering and Terrorist Financing Law No. 39 of 2025, and the provisions of Controls No. 1 of 2029.” (Amended to Regulations No. 1 of 2017), the following must be adhered to:
1. It is permitted to enter or take out amounts less than $10,000 (ten thousand US dollars) or its equivalent in other currencies without declaring them.
2. It is permitted to enter or withdraw amounts exceeding $10,000 (ten thousand US dollars) to $20,000 (twenty thousand US dollars)
provided that they are declared, with the necessity of showing what supports the purpose of entering or withdrawing these amounts, and
in the event that they are not available Identification documents: The traveler must submit an undertaking to bring these documents after (30) days from the date of the declaration.
3. It is prohibited to enter or withdraw amounts exceeding $20,000 (twenty thousand US dollars) or its equivalent in other currencies.
The process of entering or withdrawing these amounts shall be exclusively through financial institutions.
4. It is prohibited to bring in or take out amounts exceeding (1,000,000) dinars (one million Iraqi dinars), even if they have been declared. The amount will be seized and legal measures will be taken against it.
5. Declaration of precious stones and precious metals if their value exceeds (10,000) ten thousand US dollars.
6.Declaration of financial instruments that are negotiable to bearer or transferred inside or outside Iraq through a person, postal service, shipping service, or any other means, and whose value exceeds (10,000) Ten thousand US dollars.
https://observeriraq.net/البنك-المركزي-ينشر-ضوابط-التصريح-عن-ال/
