New shipments of US dollars arrive in Iraq

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New shipments of US dollars arrive in Iraq

A source in the Iraqi banking sector reported the arrival of new shipments of US dollars on Wednesday.

According to an INA source, the Iraqi banks have received new shipments of US dollars at the Baghdad International Airport to meet customer needs.

The informant mentioned that more shipments are expected to arrive in the next few days. I have ensured that there are no spelling, grammar, or punctuation errors in the revised text.

In mid-November, a government official revealed that three private banks in Iraq received official authorization from the Central Bank of Iraq (CBI) to import US dollars to meet the needs of their clients.

The source confirmed that one of the banks had already shipped amounts of up to $100 million to Iraq.

The CBI is reviewing additional requests from other Iraqi banks to import US dollars, according to an official.

The Trade Bank of Iraq (TBI) is in talks with several international companies to transfer $120 million to Iraq in the coming days, according to an INA source.

The recent decision by the CBI allowing private banks to import foreign currencies via commercial flights has sparked controversy as Iraqi lawmakers and legal experts have deemed it unconstitutional according to The News Arab.

Officials from the CBI recently held intensive meetings with US officials in Abu Dhabi to discuss covering imports via external transfers.