TNT:
Tishwash: Iraq prohibits cash withdrawals in dollars in early January 2024 – urgent
A senior official in the Central Bank of Iraq told Reuters, today, Thursday (October 5, 2023), that the country will ban cash withdrawals and transactions in dollars, starting from January 1, 2024, in the latest effort to limit the misuse of the country’s hard currency reserves in financial crimes. And evading US sanctions on Iran.
Mazen Ahmed, Director General of the Investment and Transfer Department at the Central Bank of Iraq, told Reuters that the aim of the step is to stop the illegal use of about 50 percent of the $10 billion cash amount that Iraq imports annually from the Federal Reserve Bank in New York.
This step comes as part of a broader campaign to stop the economy’s dependence on the dollar after residents began to prefer the US currency over the dinar.
Ahmed said that people who deposit dollars in banks before the end of 2023 will be able to withdraw money in dollars in 2024. But dollars deposited in 2024 can only be withdrawn in the local currency at the official rate of 1,320 dinars to the dollar link
CandyKisses: Dozens of owners of banking companies demonstrate in front of the Central Bank of Iraq
Shafaq News / Dozens of owners of banking companies organized, on Thursday morning, a demonstration in front of the Central Bank of Iraq in the center of the capital Baghdad, demanding the lifting of sanctions imposed on them for illegal financial transactions.
The correspondent of Shafaq News Agency said that about 80 people from the owners of banking companies gathered in the area of Rashid Street in front of the central bank building, calling on his administration to lift the administrative and financial sanctions imposed on them.
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Tishwash: In Baghdad… chaos in a foreign bank after it refused to hand over citizens’ money in dollars
Social media pioneers circulated a video clip of a citizen who was extremely upset after a foreign bank in Iraq refused to hand over to him his money that he had deposited in US dollars.
He delivered the amount equivalent to the Iraqi dinar and according to the official price he announcedCentral Bank of Iraq.
Those interacting with the video clip unanimously called on the Central Bank to reveal the facts to public opinion, whether the Central Bank had prevented banks from handing people their money in dollars, or whether the banks were “exploiting” people and “robbing” them under the pretext of the Central Bank’s instructions. link
