Reasons for the rise of the dollar in Baghdad… What is the connection to the spectrum?
Reasons for the rise of the dollar in Baghdad… What is the connection to the spectrum?
2026-09-07
Shafaq News – Baghdad
Mahmoud Dagher, the former Director General of the Central Bank of Iraq, confirmed on Monday that the rise in the exchange rate of the dollar against the dinar during these two days came in response to the crisis caused by Al-Taif Islamic Bank, and the resulting state of instability and lack of confidence.
Dagher told Shafaq News Agency that the instability and lack of confidence led to an increased demand for the dollar, which was reflected in its exchange rate during the past two days.
The Central Bank of Iraq had imposed guardianship on Al-Taif Islamic Bank for Investment and Finance, pursuant to Board of Directors Resolution No. (130) of 2026, on the grounds of violations that the Central Bank described as serious and which affected the bank’s financial position.
The guardianship decision came after the bank was subjected to regulatory measures and restrictions, amid a crisis that raised concerns among depositors about their ability to access their funds. Branches of the bank witnessed protests from depositors and employees whose salaries are deposited there, due to the inability to withdraw funds and the suspension of some services and electronic cards.
The trusteeship team began its duties on September 6, 2026, while the Central Bank confirmed that the trusteeship is a regulatory and legal procedure that does not mean the bank’s bankruptcy, stressing the protection of depositors’ rights and funds in accordance with applicable laws, and that customers’ funds will be handed over after the completion of regulatory procedures.
It is worth noting that the US dollar rose against the Iraqi dinar in the parallel markets during the past two days, reaching 155,600 dinars per 100 dollars in the Al-Kifah exchange.
shafaq.com
