Source: Iraqi banks will begin strengthening their accounts in UAE dirhams next week


According to a banking source today, Saturday, the Central Bank of Iraq has finalized the final arrangements for the deal with the UAE’s First Abu Dhabi Bank.

According to the source, the real execution of the enhancement operations for Iraqi bank accounts in the UAE dirham is expected to commence within the next week, suggesting that the first phase of the enhancement will involve five Iraqi private banks.

According to the source, after analyzing the first phase of implementation, which may last a few weeks, the number of banks is projected to double.

On Saturday, November 11, Iraqi official sources stated that the Central Bank had long talks with the American side in the Emirates, which resulted in major decisions about foreign payments and dollar strengthening bank balances.


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