Tuesday, October 29, 2024

The Central Bank republishes controls on the declaration of funds and their entry or exit from Iraq, 29 OCT

 The Central Bank republishes controls on the declaration of funds and their entry or exit from Iraq

Baghdad Today – Baghdad 

The Central Bank of Iraq, on Tuesday (October 29, 2024), re-published the controls on the declaration of funds, indicating that it allows the entry or exit of amounts below $10,000.

The bank said, according to a statement received by Baghdad Today, that in order to reduce the risks of entering and taking out funds across the Iraqi border and exploiting this in money laundering or financing of terrorism, and based on the Anti-Money Laundering and Terrorist Financing Law No. 39 of 2025, and the provisions of Controls No. 1 of 2029 (amended to Regulations No. 1 of 2017), the following should be adhered to:

1. It is allowed to enter or take out amounts of less than (10,000) dollars (ten thousand US dollars) or its equivalent in other currencies without declaring them.

2. It is allowed to enter or take out amounts exceeding (10,000) dollars (ten thousand US dollars) to 20,000 dollars (twenty thousand US dollars) provided that they are declared, with the need to show what supports the purpose of entering or taking out these amounts. In the event that supporting documents are not available, the traveler shall submit a pledge to bring those documents after (30) days from the date of the permit.

3. It is forbidden to enter or take out amounts exceeding (20,000) dollars (twenty thousand US dollars) or its equivalent in other currencies, and the process of entering or taking out these amounts through financial institutions is exclusively.

4. It is forbidden to enter or take out amounts exceeding (1,000,000) dinars (one million Iraqi dinars) even if they have been declared, and the amount is seized and legal procedures are taken against it. 5 Declaration of precious stones and precious metals if its value exceeds (10,000) ten thousand US dollars 6. Declaration of negotiable financial instruments to the bearer or transferred inside or outside Iraq through a person, postal service, shipping service or any other means whose value exceeds (1,0000) ten thousand US dollars.

https://baghdadtoday.news/260953-البنك-المركزي-يعيد-نشر-ضوابط-التصريح-عن-الأموال-وإدخالها-أو-إخراجها-من-العراق.html

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