The Central Bank announces the strengthening of the accounts of “13” Iraqi banks in the Chinese yuan

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On Wednesday, the Central Bank of Iraq announced that 13 Iraqi banks have strengthened their accounts in Chinese yuan. The bank also urged merchants and importers to use official channels to secure their imports.

According to official media reports, a source within a bank stated that 13 banks have strengthened their accounts with the Chinese currency, the yuan. The source also suggests that more banks will follow suit and strengthen their balance in the near future.

Merchants and importers can now import goods from China at the official price provided by Chinese banks, rather than resorting to the black market and speculators.

The Central Bank has agreed with Turkish banks to facilitate external transfers and enhance the use of the euro in Iraqi banks, according to an official news agency source.