Central Bank Issues Third Package To Facilitate Procedures For Obtaining Dollars

The Central Bank of Iraq issued on Tuesday the third package to facilitate the procedures for obtaining the US dollar.

The Central Bank of Iraq decided in a statement received by Earth News to “issue the third package to facilitate the procedures for ordering for the US dollar, which includes the following”:

  1. In order to facilitate access to dollars for citizens wishing to travel abroad, the official exchange rate of “1320” dinars per dollar will be calculated through the electronic payment card issued by the licensed authorities when used abroad, as follows:

A- Prepaid Cards, whether in dollars or dinars, are not linked to a bank account, which makes them within reach, and with a ceiling of (10,000) dollars refillable, and the bank and licensed electronic payment companies have the right to issue them.

  1. Credit Cards, and the ceiling determined by the bank according to its classification of the customer (Gold, Silver, Platinum), with the possibility of enhancing what was used later.

C- Debit Card, which are linked to the customer’s account with the bank (including localized salaries), 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.

  1. The traveler’s share in the cash dollar will be at (2000) dollars starting from Sunday, 2023/3/19, with the possibility of using the mentioned cards to allow citizens to cover their requests from the dollar, and avoid the citizen from carrying large amounts of cash, in line with the directions of the countries of the world to leave the use of cash except in a small extent.
  2. The daily sales of the Central Bank of Iraq of cash dollars at their levels will continue without reduction, to banks, exchange companies and brokering companies to sell and buy the approved foreign currency, for the purpose of securing citizens’ requests for the reported purposes.
  3. The Central Bank of Iraq invites banks and exchange companies to communicate with money transfer companies (Westren Yunin, MoneyGram, etc.) to obtain a license to work in Iraq to meet the growing demands for personal transfers, with the commitment of the Central Bank of Iraq to settle their accounts with those companies at the official price. The Central Bank will urge these companies to expand their agent base in Iraq, and these transfers may include some types of simple commercial transfers later.
  4. Gold importers’ remittances and credits will be covered for companies registered with the Central Organization for Standardization and Quality Control in the Ministry of Planning.