The Central Bank of Iraq (CBI)’s gold and US dollar reserves were made public by Ali Al-Alaq, the bank’s governor.
CNBC Arabia was informed by Al-Alaq that the CBI has foreign reserves of more than $100 billion and that the bank has a gold reserve of more than 130 tons, the majority of which is in England.
Al-Alaq noted that “the volume of trade with the UAE reaches $17 billion and is settled in Emirati dirhams” in relation to Iraqi foreign trade.
He mentioned that commercial transactions in Emirati dirhams are handled by the Abu Dhabi First Bank.
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