Ali Al-Alaq, Governor of the Central Bank of Iraq, declared a rise in the percentage of merchants utilizing the electronic dollar selling platform, noting that the high demand for the dollar by tourists is what puts pressure on the market.
Al-Alaq stated in an interview with the official agency followed by “Al-Maalouma” that “the electronic platform witnessed many difficulties at the beginning of its work, which led to the reluctance of some to enter into it,” indicating that “the implementation rate in the electronic platform has now increased from 20% to 95%, and this gave We are certain that using the platform will be quick and safe.”
He continued, “Entering the electronic platform in the external transfer process saves all parties from the risks of being exposed to local and international sanctions.”
Al-Alaq said that “90% of the Central Bank’s sales are for the purposes of remittances and external transfers, and they are proceeding smoothly and at the official price (1320), but the problem lies in the cash side, which represents 10% of internal daily sales.”
He stated that “the ten percent rate is sufficient to meet the needs of travelers, but some are trying to dominate by withdrawing the amount allocated to travelers, which creates pressure and an increase in the cash price, and these parties have been identified as carrying out illegal and criminal operations.”
Al-Alaq issued a warning about “some merchants who cannot work in an organized atmosphere, and are looking for chaos, and that the Central Bank is working to surround this challenge in coordination with the government to besiege these groups that are being diagnosed and followed up.”