Central Bank Governor: We prevented banks and companies from obtaining the dollar... and work on the electronic platform will end during the current year, 1 FEB

  Central Bank Governor: We prevented banks and companies from obtaining the dollar... and work on the electronic platform will end during the current year

1/31/2024

 The Governor of the Central Bank, Ali Al-Alaq, confirmed: “The bank prevented a number of banks and companies from obtaining the dollar for not adhering to the requirements,” indicating: “The electronic platform will end its operation during the current year.”

Al-Alaq said in an interview with the official agency: “The banks against which decisions are issued are only prevented from obtaining the dollar and can carry out their normal activities,” noting that: “Banks can correct their conditions and obligations required to enter into their foreign transactions.”

He added: "The Central Bank has reached the final stages of regulating external transfers to banks, and the bank has continuous reviews, and banks that apply the standards are allowed to obtain the dollar."

Al-Alaq continued: “The US Treasury praised the Central Bank’s provisions for banks, which included conditions and standards for external transfers and the opening of accounts with internationally accredited foreign banks,” denying the issuance of decisions by the US Treasury to punish a number of Iraqi banks with the exception of Al-Huda Bank and the Chairman of its Board of Directors.   LINK