Zaidi welcomes US-Iraq deal to restore seven banks’ foreign transactions

“This strengthens confidence in the Iraqi banking sector and opens broader horizons for the national economy and investment,” Zaidi added.

News

No intention to change exchange rates: CBI

Since 2023, the CBI has set the official exchange rate at 1,320 dinars per one US dollar. Although that rate is used in official government transactions, it has never been in use at the currency exchange markets, which set a frequently-changing and way lower value for the dinar.

News

Iraqi dinar plunges to lowest value in 2.5 years

The Iraqi dinar traded at 160,000 IQD per $100 on Monday morning, with an economist attributing the fall to several factors, such as the replacement of Iraq's Central Bank governor and lower oil exports due to the effects of the US-Israeli war on Iran.

News

CBI warns of influencers being used in money laundering, terror financing

Money laundering techniques outlined by the bank include rapid, unexplained follower growth, funds received from parties “without a clear commercial reason,” paid promotions for “suspicious parties,” purchase of luxury assets that do not match income, and financial deals with entities “subject to international sanctions.”

News

Iraq’s state-owned bank says cards ‘operating fully and normally’

“Rafidain Bank urges citizens not to be swayed by malicious rumors and to rely exclusively on news and updates from the bank's official sources,” read a statement.

News

Rafidain Bank enforces passport requirement for international transactions amid US pressure

For the first time, Rafidain Bank is requiring its customers to provide a passport for Mastercard and Visa Card transactions abroad, raising many questions among experts and concerned individuals. This comes amid reports of pressure on the bank from the US, accusing it of smuggling dollars to Iran and supporting armed factions.

News

Cash flow crisis hits Iraq after ambitious budget

Iraq faces a severe financial crisis due to cash flow shortages, delayed salary payments, and halted service projects.

Sam Mahmoud

Opinion