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Parliamentary Finance: Political and economic reasons prevent Iraq from opening foreign currency channels - Urgent
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Baghdad Today - Baghdad
The Parliamentary Finance Committee confirmed, today, Friday (August 9, 2024), that there are political and economic reasons preventing Iraq from opening channels for foreign currencies other than the dollar.
Committee member Jamal Kojer said in an interview with Baghdad Today, "Iraq's failure to open channels for foreign currencies other than the dollar is certainly due to political and economic reasons and internal and external factors."
Kocher explained that "opening a window for foreign currencies is done through the presence of tourism, various foreign investments, and foreign industry inside Iraq, and until now the security environment and the political environment are not conducive to providing such an atmosphere, and for this reason there is no window for foreign currencies, and therefore the matter is limited only to dealing in dollars."
It is noteworthy that the Central Bank of Iraq decided on July 4, 2024, to start selling dollars to travelers, exclusively through corporate and banking outlets at international airports.
Meanwhile, the Central Bank decided to grant category “AB” exchange companies the ability to record internal and external remittance activities via the FITR platform.
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