The Central Bank of Iraq reassures currency traders: No prosecution or arrest without a court order.
The Central Bank of Iraq reassures currency traders: No prosecution or arrest without a court order.
2026-10-07
Shafaq News – Baghdad
An official source at the Central Bank of Iraq stated on Wednesday that the bank represents the exclusive authority entrusted with “supervision, monitoring and regulation” of banking and non-banking financial institutions in the country.
The source told Shafaq News Agency that the role of the security services is limited to executive coordination to enforce rulings and laws, in accordance with official reports during the occurrence of violations.
He added that the security services are not authorized to pursue or arrest those dealing in foreign currencies or currency traders, except based on explicit judicial orders and permissions, in accordance with the approved legal procedures.
It is worth noting that the Central Bank had reassured traders and businessmen that they could now go to banks to obtain their remittances at the new official rate of 1520 dinars per dollar, stressing that directives had been issued to facilitate procedures for obtaining dollars at the new official rate, and to provide sufficient quantities of it to meet the needs of the Iraqi market.
This comes after the adoption of new exchange rates, according to which the purchase price of the dollar from the Ministry of Finance was set at 1500 dinars, and its sale to banks at 1510 dinars, while its sale price to the public was set at 1520 dinars, with the previous price to be discontinued starting from the beginning of the work day on October 7, 2026.
Earlier on Wednesday, the Central Bank of Iraq described the decision to raise the exchange rate of the dollar against the Iraqi dinar as a “strategic step” to enhance financial stability, reassuring citizens and the economic sector of the adequacy and strength of its foreign reserves.
shafaq.com
