As confirmed by Shafaq News, the Central Bank reduces the dollar allocation for travelers.
On Wednesday, the Central Bank of Iraq issued new regulatory instructions regarding the mechanism for meeting the demand for foreign currency for citizens traveling outside Iraq. Broadcast& Network News
The bank stated in a statement received by Shafaq News Agency that the new instructions included setting a ceiling for the cash quota for an adult traveler at (2000) US dollars per month, instead of (3000) dollars, within the framework of developing the management of foreign exchange sales operations, enhancing the efficiency of resource distribution, and in line with best international banking practices.
According to the statement, this measure comes as part of a package of regulatory reforms implemented by the Central Bank with the aim of ensuring that foreign currency reaches everyone, which contributes to strengthening the stability of the money market and raising the efficiency of resource management.
He added that these measures are purely regulatory, within the process of enhancing its ability to face economic changes efficiently and sustainably, and to keep pace with global developments in payment systems, by encouraging the use of electronic payment cards, whether credit or prepaid, as a primary and secure means of covering travel expenses outside Iraq, which provides greater flexibility for citizens, promotes the shift towards a digital economy, and keeps pace with modern international banking standards, thereby supporting confidence in the banking sector and serving the country’s higher economic interest.
It is worth noting that an informed source revealed to Shafaq News Agency yesterday, Tuesday, that the Central Bank of Iraq issued new directives to reduce the share of foreign currency (dollars) for travelers to 2,000 US dollars instead of 3,000 dollars, within the approved mechanism to meet travel requests.
According to the source, the decision will include Iraqi citizens departing through all airports and border crossings, whether they are traveling for tourism, medical treatment, study, or to perform Hajj and Umrah rituals, as well as for business trips.
Shafaq.com