Iraqi Central Bank confirms dollar withdrawals allowed amid customer complaints

BAGHDAD, October 8 — The Iraqi Central Bank confirmed on Sunday, in a circular, that withdrawing dollars from licensed outlets is permissible. This decision comes in response to complaints from bank customers.

The bank’s statement, received by Network 964, read as follows:

“As a reaffirmation of our previous circular numbered 180/3/9 dated June 30, 2020, and subsequent circulars concerning foreign exchange centers, including our recent circular numbered 204/2/9 dated March 30, 2023, all authorized banks are required to consider the approved foreign exchange centers, as specified in the aforementioned circulars, to address the shortage in meeting your customers’ requests for withdrawing cash dollars from their accounts with you. Several complaints have been received regarding the failure to fulfill these withdrawals on the grounds of instructions allegedly issued by this bank prohibiting such withdrawals.

In this regard, this bank will take into account the complaints received from your customers on this matter and will take necessary actions against the non-compliant banks to ensure compliance with the above-mentioned instructions.”