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Iraq's central bank must address continued risks of the misuse of dollars at Iraqi commercial banks to avoid new punitive measures targeting the country's financial sector, a top U.S. Treasury ...
Dozens of people protested in front of the Central Bank of Iraq in Baghdad and bank owners called for official action to stem a sharp increase in the dollar exchange rate Wednesday, after the ...
The Iraqi dinar [a] (code: IQD) [2] is the currency of Iraq. The Iraqi dinar is issued by the Central Bank of Iraq (CBI). On 7 February 2023, the exchange rate with the US Dollar was US$1 = 1300 dinars. [3]
WASHINGTON/BAGHDAD (Reuters) -The United States has barred 14 Iraqi banks from conducting dollar transactions, the Wall Street Journal reported on Wednesday, citing U.S. officials. The ban, which ...
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In July 2003, the CPA started to replace the old Iraqi dinars with portrait of Saddam Hussein with a new currency. On August 27, 2003, Custer Battles, LLC., signed a Dinar Exchange Contract with the CPA to construct and operate three money exchange facilities, in Baghdad, Mosul, and Basra. It was a Cost-Plus contract with reimbursement for ...
Executive Order 13303 was issued on May 22, 2003, by United States President George W. Bush to protect the Development Fund for Iraq for the rebuilding of Iraq from any legal attachments or liens. Further, it protects Iraqi oil products and interests and ownership by US persons (defined to include US corporations) from attachment as well.
Endemic corruption pervades Iraq's oil and gas sectors, which still accounts for more than 99 percent of the country's exports and 85 percent of the government's budget. [2] The Iraqi economy is predominantly a cash economy, making it almost impossible to trace the amount or the path the money follows. [3]