New shipment of US dollars lands in Iraq
A reliable source within the Iraqi banking sector disclosed on Wednesday the arrival of fresh supplies of US dollars in Iraq.
As reported to the Iraqi News Agency (INA), Iraqi banks have successfully imported these new dollar shipments through Baghdad International Airport, with plans to meet the financial requirements of their customers. The source further noted that additional deliveries are anticipated in the coming days.
In mid-November, a government official unveiled that the Central Bank of Iraq (CBI) had officially granted authorization to three private banks in Iraq, permitting them to import US dollars to address the demands of their clientele. Emphasizing amounts reaching up to $100 million, the source confirmed the arrival of one bank’s shipment in Iraq and indicated ongoing assessments of requests from other Iraqi banks to import US dollars.
Addressing the controversy surrounding the CBI’s decision, which allowed private banks to import foreign currencies via commercial flights, Iraqi lawmakers and legal experts raised concerns about its constitutionality, as reported by The News Arab. The source highlighted ongoing discussions between the Trade Bank of Iraq (TBI) and international companies, aiming to transfer significant amounts, approximately $120 million, set to reach Iraq in the coming days.
Furthermore, the source shared insights into recent intensive meetings between CBI officials and their US counterparts in Abu Dhabi. These discussions primarily revolved around external transfers to cover imports, indicating strategic efforts to navigate the evolving financial landscape.
