MoF limits Rasheed Bank’s sale of US dollars for Iraqi dinars

Baghdad (IraqiNews.com) The Ministry of Finance ordered Rasheed Bank’s US dollar to Iraqi Dinar currency sales to be limited to the Head Office of Rasheed Bank and its Shurja branch exclusively only to customers with passports and airplane tickets.

The Ministry of Finance reported in statement received by IraqiNews.com on Thursday “The Acting Minister of Finance, Ali al-Shukri, instructed Rasheed Bank to sell the US dollar currency in exchange of Iraqi dinar for people in condition to bring their passports and traveling by an airplane tickets in order to reduce manipulating with USD price.”

“Banking experts assured that both Rasheed and Rafidain banks as well as other private sector banks are selling the USD currency for people without any regulations which allows some people to exploit this method to buy large amounts of dollar from banks according to the price of the Central Bank of Iraq and sell it to people for much higher prices,” the statement added.