"Countdown To Cutting Off Dealings With The International Development Bank": The US Treasury Extends The Deadline For Settling Financial Transactions Until December 1st.
The US Treasury Department announced an extension of the deadline for ending financial transactions with the International Development Bank for Investment and Finance of Iraq until December 1, after imposing sanctions on it in mid-October, on the grounds of accusations of facilitating Iran’s access to the US dollar and establishing financial relations with entities linked to Tehran.
According to the amended general license (FF-1) issued by the U.S. Treasury’s Office of Foreign Assets Control, the decision allows financial institutions and companies to complete the transactions necessary to terminate their existing relationships with the bank, including companies in which it owns shares of fifty percent or more, directly or indirectly.
The license clarified that the new deadline extends until December 1, 2026, instead of October 30, with the restrictions imposed on the bank continuing, and no new transactions being allowed outside the scope of the specified exceptions.
The US Treasury stipulated that any payments due to individuals or entities subject to US sanctions must be deposited into frozen accounts, in accordance with the Iran sanctions regulations, stressing that extending the deadline does not mean lifting the sanctions on the bank or allowing the resumption of normal banking transactions with it.
The decision comes after the US Treasury announced on October 15 that it was imposing sanctions on the International Development Bank, accusing it of providing financial services that helped Iran access US dollars and establish financial ties with Iranian government institutions and armed groups linked to Tehran.
The ministry stated in its previous sanctions statement that the bank used Iranian capital in its business activities and transferred financial profits to Iran on a monthly basis in US dollars, in addition to accusing it of abusing its previous access to the dollar transfer auction in Iraq.
The US Treasury also accused the bank of maintaining financial ties with entities linked to the Quds Force of the Iranian Revolutionary Guard, noting that some parties associated with its previous management and ownership were linked to sanctioned Iranian financial networks.
The US sanctions include freezing the bank’s assets and financial interests located within the United States or under the control of US persons, and prohibiting transactions covered by the sanctions, except for transactions permitted by licenses issued by the Office of Foreign Assets Control.
The new US decision grants financial institutions and companies dealing with the International Development Bank an additional grace period to settle their existing obligations, while the bank remains on the US sanctions list, as part of Washington's measures to restrict Iran's access to the international financial system and the US dollar.
https://1news-iq.net/العد-التنازلي-لقطع-التعاملات-مع-مصرف/
Deputy Prime Minister: Dollar Exchange Rate In The Parallel Market Will Fall And Approach The Official Rate
Baghdad - INA - 11/01/2026 Deputy Prime Minister for Economic Affairs, Mohammed Tamim, confirmed on Sunday that the dollar exchange rate in the parallel market will decrease and move closer to the official rate. He also announced that a new shipment of $500 million is set to arrive tomorrow from the United States.
In an exclusive interview with Al-Iraqiya News—to be aired this evening at 11:00 PM, Deputy Prime Minister for Economic Affairs Mohammed Tamim stated that "the parallel exchange rate will definitely decrease, and will be very close to the official exchange rate."
He added that "the government’s relationship with the United States is excellent and built on a foundation of trust," noting that "the supply of cash dollars to Iraq had dropped in previous years to less than $3 billion annually."
Tamim explained that "over the past two months, the United States has taken steps to send $3 billion," pointing out that "the first batch arrived last Thursday, and the second batch will arrive tomorrow, Monday—with each shipment exceeding $500 million."
Tamim expressed his confidence that "the measures to be taken by the government and the Central Bank, along with the amounts of dollars to be released into the market, will lead to a decrease in the exchange rate—bringing it close to, or perhaps even equal to, the official rate, as is the case in some neighboring countries."
Iraq Deputy PM ‘Takes Responsibility’ For Promise Of Cheaper Dollar
2026-11-01 | 20:01 BAGHDAD - 964 Media — The dollar will fall to very close to the official rate on Iraq’s parallel market, Deputy Prime Minister Mohammed Ali Tamim said Sunday, crediting $3 billion in cash he said Washington had decided to send in two months.
“The parallel exchange rate will decline and come very close to the official exchange rate, and I take responsibility for these words,” said Tamim, who heads the Ministerial Council for Economy. “The reason is that this government’s relationship with the United States is an exceptional one, and the foundation of that relationship is trust.”
The first shipment arrived Thursday and another is due Monday, each carrying more than $500 million, Tamim said.
“In previous years, dollar cash supplies to Iraq declined to less than $3 billion annually, while over these two months, the U.S. government decided to send $3 billion,” he said. He did not say which years he meant.
The government will put the cash into the domestic market through measures supervised by the Central Bank of Iraq, Tamim said.
“Therefore, I am confident that the measures the government and the Central Bank will take, along with the dollars that will be supplied to the market, will lead to a decline in the exchange rate. The parallel exchange rate will come very close to the official exchange rate, if not equal to it, as is the case in some neighboring countries,” he said.
The dollar sold for 168,500 dinars per $100 in Baghdad on Sunday morning, about 11% above the official rate of 152,000, according to 964media’s daily rate check. The selling price was the same on Thursday morning.
Tamim’s timeline differs from the Central Bank’s. Mahmoud Dagher, an adviser to the Central Bank governor and the bank’s spokesperson, told the state-run Iraqi News Agency on Tuesday, two days before the arrival Tamim described, that Prime Minister Ali al-Zaidi was personally following the shipments, each carrying about $500 million. “Two aircraft loaded with dollars have arrived, and other shipments will follow in the coming days, according to the prime minister’s statements,” Dagher said.
Al-Zaidi said on Oct. 23 that Washington would send $1 billion in cash and that the parallel rate would soon fall to 155,000 dinars per $100. He gave no delivery date.
Dagher told state television on Oct. 24 that Iraq pays for most imports through bank transfers and letters of credit. Cash makes up no more than 10% of transactions and goes to travelers, students abroad and a few other purposes, he said.
On Wednesday, economist Ziad al-Hashimi warned that the government’s public enthusiasm over the shipments could push Washington to cut them off again and renew pressure on the Central Bank’s reserves. The dollars belong to the Central Bank and are meant only for travelers, not for the government or the markets, Hashimi wrote on Facebook.
“The Iraqi government is ‘very enthusiastic’ as it begins receiving cash dollar shipments after their release by the Federal Reserve, as though these dollars were meant for it or it could do with them as it pleases,” he wrote.
The Central Bank on Sunday denied raising the amount of dollars each traveler can buy at the official rate to $3,500. Haider Ghazi, the bank’s media director, told Iraqi media that a document circulating on social media in the bank’s name was forged and that travelers can still buy $2,000.
Iraq’s oil revenue is held in an account at the Federal Reserve Bank of New York, from which the Central Bank receives periodic shipments of U.S.
banknotes. The U.S. State Department said in April that dollar shipments to Iraq “were temporarily paused,” and government spokesperson Haider al-Aboudi said in July that deliveries had resumed.
Since Oct. 7, the Central Bank buys dollars from the Finance Ministry at 1,500 dinars, sells to banks at 1,510 and sets the public rate at 1,520, up from 1,300, 1,310 and 1,320.
Zaidi told the parliament speaker and committee chairs on Oct. 8 that devaluation was necessary to keep paying salaries without more borrowing, after the government had weighed compulsory savings deducted from salaries, paying public employees every 45 days and taking on more debt. https://en.964media.com/54546/
The Government Denies Iraq's Intention To Borrow 16 Trillion Dinars To Cover The Budget Deficit
policy sharing Clock Network Published on: October 30, 2026 | The Iraqi government on Friday denied reports that Iraq intends to borrow 16 trillion dinars from five countries to cover its budget deficit, stressing that its policy is based on investing revenues and using them to support public spending.
Government spokesman Haider al-Aboudi told the official news agency, as reported by Al-Sa’a Network, that “the news circulating about Iraq’s intention to borrow 16 trillion dinars from Saudi Arabia, Kuwait, China, Germany and France to cover the budget deficit is incorrect,” stressing that “there is no need for such borrowing in light of the oil export indicators.”
Al-Aboudi explained that "the government adopts an economic policy based on the precise allocation of the country's revenues and directing them to support public spending and meet the state's financial requirements," noting that "increasing the ceiling of oil exports has contributed to strengthening available revenues and ensuring the continued implementation of financial and spending policies."