Al-Bayati: Iraq has its options to deal with currencies alternative to the dollar


Former MP Jassem Al-Bayati said on Sunday that Iraq has other currencies that may be agreed upon with the US Treasury to deal with if any institutions face sanctions.

“The visit of the US Treasury delegation to Baghdad comes in preparation for the visit of a delegation from Baghdad to Washington,” Al-Bayati informed Al-Maalouma, “where some points were set by the Central Bank regarding alternatives to the dollar, such as the euro, the UAE riyal, and the Chinese yen.”

“The US Treasury’s acceptance of the aforementioned alternatives will be a positive factor for Iraq,” he continued, saying that “there is a fear of imposing restrictions and severing the relationship in dealing in dollar currency with some Iraqi banks.”

“The restrictions that the US Treasury may impose on some banks will allow them to deal in other currencies if this is agreed upon, and sanctions are unlikely to be imposed,” he said. If this exists, it would be openly stated, and at the conclusion.”


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