Sandy Ingram   [Post 1 of 2….]

 A parallel market refers to the trade of goods or currencies through distribution channels that are not authorized by the original manufacturer or the official regulatory body…and is legal…A black market refers to the illegal trade of good and services that are either prohibited by law or sold to avoid taxes and regulations.  Iraq has serious currency controls and this automatically facilitates the black market…Iraqi citizens are banned from drinking alcohol, so yes the alcohol black market is probably huge.  Iraq has another black market product, oil smuggling.