The Central Bank allows Iraqi banks to import foreign currency and requires them to meet 5 conditions


On Wednesday, the Central Bank of Iraq voted to enable Iraqi banks to import foreign money under five conditions.

According to a letter obtained by Shafaq News Agency from the Central Bank of Iraq, “Based on the requests received by the bank, and in order to provide the required flexibility to banks operating in Iraq, it was decided to allow you to import foreign currency from outside Iraq while adhering to the following: –

1- The funds will be utilized to satisfy Ziyankum’s requests from officially registered firms, organizations, and bodies, as well as people working for international corporations or institutions who receive remittances from sources other than Iraq.

2- Submit a request to the Central Bank of Iraq (Banking Control Department) detailing the quantity to be submitted as well as the shipment information.

3- Payments must only be made through air ports.

4- Your promise to register the serial numbers of these shipments and then report them and the receivers’ details to the Banking Control Department.

5- Providing the name of the foreign shipping firm, as well as a copy of the license given to it in its home country, to the Central Bank.

The Central Bank of Iraq indicated that it will continue to provide foreign currency to satisfy customer demands and in compliance with relevant instructions and procedures.


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