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Category: Iraqi Dinar Politics

Iraq is ready to Reintroduce the Coin and Delete the Zeros

Iraq is ready to Reintroduce the Coin and Delete the Zeros

The Iraqi House of Representative’s Finance Committee has announced a trend to re-operate the coin. These coins have been used for decades in Iraq. The Committee stressed the importance of pre-adopting the coin process step Delete Zeros from currently circulating Iraqi currency to be valuable to the small cash category. The morning newspaper reported that a member of the Iraqi Finance Committee, Hanin al-Qadu issued a press statement and said we stressed the need to re-work coins that have been…

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The Iraqi Central Bank permits to withdraw cash using Electronic Payment System

The Iraqi Central Bank permits to withdraw cash using Electronic Payment System

The Iraqi Central Bank has decided to permit Iraqi citizens to withdraw cash from the points of sale. These sale points have been opened by the agents of traders and electronic payment companies in the Iraqi domestic markets. The sale points were positioned in order to manage the operations related to electronic payment according to the strategic plan of the Iraqi Central Bank to adopt the electronic payment system within organized and efficient environment. A press statement issued by the…

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CBI stressed to Replace Damaged Iraqi Currency without Charges

CBI stressed to Replace Damaged Iraqi Currency without Charges

On Thursday, the Iraqi Central Bank stressed the need from all Iraqi banks to execute the operation to replace the damaged Iraqi currency without any charges. The CBI issued a press statement that the banks approved entire amenability commitment issued by the department and treasury in 2017. It was also approved that the replacement of the damaged Iraqi currency operation will be done without paying commissions. The statement also pointed out that any amenability will not bear the bank breaching…

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A Large Number of Iraqi Officials and Politicians Involved in Corruption: Report

A Large Number of Iraqi Officials and Politicians Involved in Corruption: Report

On Sunday, Al-Watan newspaper published a report about a team of international investigators in Iraq. The report has indicated that the team has finalized advanced stages in the sentiment of Iraqi politicians and officials involved in the corruption process linked to the smuggling and money-laundering of Iraqi money abroad. The newspaper published a report today and said that names of criminals will be announced next month. The team started work accompanying with foreign companies in the implementation of large scaled…

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Important Meeting of Iraqi President with Rex Tilerson

Important Meeting of Iraqi President with Rex Tilerson

The Iraqi President Fuad Masoum met with the U.S Secretary of State Rex Tilerson and the U.S delegation in the Presidential Office. He discussed about the current political situation in Iraq and bilateral relations between Iraqi and the United States. He stressed that friendly relation between Baghdad and Washington has its own importance. He also admired the support of Washington for Iraqi people in various fields, especially in the war against terrorism and making a peaceful Iraq. He also stressed…

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Iraqi Finance Committee Warned about Entire Bankruptcy in Iraq

Iraqi Finance Committee Warned about Entire Bankruptcy in Iraq

The Iraqi Parliamentary Finance Committee issued a statement that Iraqi government and regulatory authorities are unable to take legal actions against state institutions regarding corruption. A member of committee Ahmed Sarhan issued a statement that the government of Iraq doesn’t have the ability to take legal actions against corrupt elements including at the border crossing points and customs. He added that the corrupt elements should be terminated within the federal departments and provinces. He said that there is a significant…

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Why Decline in Exchange Rate of U.S Dollar against Iraqi Dinar? Experts

Why Decline in Exchange Rate of U.S Dollar against Iraqi Dinar? Experts

Last week, the Iraqi local markets experienced low U.S dollar exchange rate against Iraqi dinar currency. A number of financial economists said that it belongs to weakness of international trade and the specific mechanisms adopted by the Iraqi Central Bank. Last week lowest record price of the U.S dollar in the Iraqi domestic market was recorded at 1285 Iraqi dinars per U.S dollar. It was dropped from 1305 Iraqi dinars per U.S dollar. Most economic experts indicated several reasons behind…

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Deletion of Zeros and Issuance of Iraqi Treasury Bonds

Deletion of Zeros and Issuance of Iraqi Treasury Bonds

On Sunday, the Iraqi Central Bank issued a statement that CBI has full control in managing Iraqi dinar. The CBI further indicated that the project deletion of zeros from Iraqi dinar currency will not be executed currently. The governor of Iraqi Central Bank said in a press statement that they have experienced rumors about the risk of Iraqi dinar currency, but it is not true. It generated degradation causing a significant amount of decline against most international currencies, especially against…

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