THE CENTRAL BANK RESUMES ITS FINANCIAL DEALINGS IN KIRKUK AFTER AN 8-YEAR HIATUS
National News Center / The Central Bank of Iraq has agreed to resume its dealings with exchange companies and money transfers operating in Kirkuk, after eight years of suspension due to the repercussions of the ISIS war.
On April 13, the Central Bank sent a letter to the financial companies in Kirkuk to submit their requests to resume their dealings with the bank, stressing the need for companies to confirm their desire as soon as possible with regard to trading in US dollars.
For his part, the owner of an exchange company in Kirkuk, Nariman Nasr al-Din, said, “Since 2015, we have been asking the Central Bank for this constantly, but the bank expressed its approval after eight years due to the repercussions of the ISIS war and the Central Bank’s fear of targeting the money that the bank deals with companies operating in Kirkuk. “.
Nariman added, “From now on, things will return to what they were before the emergence of ISIS. We will be able to deal with the Central Bank, and the dollar will reach Kirkuk at the rate set by the Central Bank.”
Regarding the importance of this step and its impact on the living situation of citizens, Neriman said, “Compared to the previous one, the currency exchange rate will decrease by one thousand dinars for each banknote of 100 dollars, and this will be in the interest of the citizens and all parties, because they will be able to obtain the dollar at a lower price.”
He continued, “We will also benefit from the Central Bank, like the rest of the provinces. We will not have to resort to other provinces in order to buy dollars, which was increasing costs for us and the citizens.”
The Central Bank of Iraq sells US dollars to exchange companies at 146 thousand dinars for every 100 dollars.