New shipments of US dollars arrive in Iraq
Newly redesigned $100 notes lay in stacks at the Bureau of Engraving and Printing in Washington, D.C. Photo: Mark Wilson/Getty Images
Baghdad (IraqiNews.com) – A source in the Iraqi banking sector revealed on Wednesday that new shipments of US dollars had arrived in Iraq.
The source told the Iraqi News Agency (INA) that new shipments of US dollars imported by Iraqi banks have arrived at Baghdad International Airport, explaining that the banks will use the shipments to fulfill the needs of customers.
The source added that additional shipments will arrive in the next few days.
In mid-November, a government official revealed that three private banks in Iraq received official authorization from the Central Bank of Iraq (CBI) to import US dollars to meet the needs of their clients.
The source confirmed that the amounts go up to $100 million, indicating that one of the banks’ shipments had already arrived in Iraq.
The official illustrated that the CBI is studying additional requests submitted by other Iraqi banks to import US dollars.
“The Trade Bank of Iraq (TBI) is currently holding important discussions with several international companies to transfer amounts reaching $120 million, and they will be delivered to Iraq within the next few days,” the source told INA.
The CBI’s recent decision allowing private banks to import foreign currencies via commercial flights sparked controversy as Iraqi lawmakers and legal experts deemed it unconstitutional, according to The News Arab.
Officials from CBI held intensive meetings with US officials in Abu Dhabi recently to discuss external transfers to cover imports.