Banks look to satisfy customer demand for U.S. dollars

Iraq’s Central Bank receives first dollar shipment, discusses major transactions

BAGHDAD, November 15 — The Central Bank of Iraq announced on Wednesday it received a first shipment of U.S. dollars from an Iraqi bank, as the Trade Bank of Iraq engages in negotiations with international companies to transfer over $120 million in the coming days.

A government source told the Iraqi News Agency:

In the past two days, the Central Bank issued official approvals for three private Iraqi banks to import U.S. dollars to meet client demand the currency, with amounts reaching up to $100 million. A shipment from one of the banks has actually arrived in Iraq, and there are requests from other banks on their way for consideration by the Central Bank of Iraq. Trade Bank of Iraq (TBI) is currently in crucial discussions with several international companies to transfer amounts of up to $120 million, expected to be completed in the coming days.”