Trade Bank of Iraq receives shipments of US dollars
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 government source revealed on Thursday that shipments of US dollars arrived at the Trade Bank of Iraq (TBI).
The source told the Iraqi News Agency (INA) that shipments including millions of US dollars arrived at the TBI as part of its plan to meet the needs of its clients.
The source added that other shipments of US dollars are scheduled to arrive in the next few days.
A source in the Iraqi banking sector mentioned last week 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.
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 official confirmed that the amounts go up to $100 million, indicating that the CBI is studying additional requests submitted by other Iraqi banks to import US dollars.
INA reported that the TBI recently held important discussions with several international companies to transfer amounts reaching $120 million.
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 the CBI held intensive meetings with US officials in Abu Dhabi last month to discuss external transfers to cover imports.