CBI to resume US dollar sales through banks in Nineveh
The Central Bank of Iraq. Photo: INA
Baghdad (IraqiNews.com) – The Governor of the Central Bank of Iraq (CBI), Ali Mohsen Al-Alaq, announced on Sunday that the bank will resume the sale of US dollars through licensed banks in the northern governorate of Nineveh, according to a statement issued by the Prime Minister’s Office.
The decision was made during a meeting on Sunday with the Iraqi Prime Minister, Mohammed Shia Al-Sudani, where he directed the government to adopt simple procedures for citizens.
The meeting addressed measures taken by the CBI regarding the stability of the Iraqi currency in the market and the plans prepared to reform and develop the banking sector in Iraq to be able to face challenges.
The Deputy Governor of the CBI, Ammar Hamad Khalaf, explained during his speech at the 6th edition of the Iraq Finance Expo held at the Baghdad International Fair that Iraq’s foreign reserves rose to $113 billion, driven by the rise in global oil prices, the Iraqi News Agency (INA) reported.
Khalaf explained that the CBI plays a key role in financial and economic stability, adding that 2023 is witnessing many changes that will contribute to achieving stability in Iraq.
Khalaf added that the Iraqi economy is seeing growth in gross domestic product, a surplus in the general budget due to increased global oil prices, and an increase in deposits in Iraqi banks.