Expert: Government And Private Banks Are Violating The Central Bank's Instructions Regarding The Dollar Exchange Rate.
Baghdad Today – Baghdad Baghdad today... Economic expert Haider Al-Sheikh warned today (Thursday, October 22, 2026) that a number of government and private banks are not complying with the instructions of the Central Bank of Iraq regarding the calculation of the dollar exchange rate in electronic payment transactions outside Iraq, noting that there is a difference in the prices adopted from one bank to another.
The sheikh told Baghdad Today that “the decision of the Central Bank of Iraq regarding the official exchange rate allocated to citizens is clear, but some banks have not complied with the instructions issued, which raises questions about the mechanisms for monitoring the implementation of governmental and banking decisions.”
He added that “the cost of purchasing $100 through electronic payment transactions outside Iraq ranges, according to the prices he referred to, between 156,000 and 160,000 Iraqi dinars, depending on the source,” considering that “these differences constitute an additional burden on citizens and require an official clarification regarding their reasons and the extent of their consistency with the applicable instructions.”
The sheikh questioned "the ability of the government and the central bank to control the parallel exchange market, if the government and private banks do not guarantee compliance with the instructions regulating exchange operations," calling for "tightening control and holding violators accountable, in order to ensure the implementation of official decisions and protect citizens from additional costs."
He stressed "the importance of clarifying the mechanism for calculating the exchange rate and commissions resulting from electronic payment transactions outside Iraq, in order to enhance transparency and reduce price discrepancies between banks." https://baghdadtoday.news/306788-.html
MP: Citizens Should Not Bear The Burden Of Economic Failure And Poor Planning
Information/Special... Member of Parliament, Shaimaa Abdul Sattar, held the government and relevant authorities fully responsible on Thursday for the repercussions of flawed monetary policies and financial turmoil. She emphasized that addressing the crises cannot be achieved by weakening the purchasing power of the Iraqi dinar and burdening ordinary citizens with the consequences of administrative failures and poor economic planning.
In a statement to the Information Agency, Abdul Sattar said, “The government bears direct and moral responsibility for its ease in draining citizens’ pockets and exporting the crisis to the streets instead of implementing fundamental solutions to salvage the economic situation.”
She explained that "relying on ineffective monetary and fiscal policies is borne by those with limited incomes and the vulnerable and impoverished classes who can no longer bear further burdens."
She added that "burdening citizens with the consequences of failure and mismanagement is a blatant evasion of confronting the real causes of the crisis, namely the continuous waste and weak oversight of public funds."
She warned that “any tampering with the stability of the dinar will drag markets into waves of inflation and a dramatic rise in the prices of basic commodities, threatening social peace and overall stability.”
Abdul Sattar stressed that “Parliament will not hesitate to hold those responsible accountable and monitor government performance,” urging it to “abandon its patchwork approach and immediately reverse these ineffective economic policies, and take serious steps to revitalize productive sectors, control border crossings, and recover looted funds to protect the dinar and the livelihood of the Iraqi people.”
The Iraqi market is facing a sharp wave of inflation resulting from the fragility of the consumer sector and direct reliance on imported goods. Prices of food and basic commodities in local markets jumped by up to 15% immediately after the official exchange rate was adjusted, directly impacting buying and selling activity and the purchasing power of citizens.
In the medium term, official forecasts indicate escalating inflationary pressures. Reports from the International Monetary Fund issued in October 2026 confirm that the overall inflation rate in Iraq will rise to 3.5% during 2026. The severity of this increase becomes clear when compared to the cautious price stability of the previous year, when the inflation rate was only 0.3% in 2025. https://almaalomah-me.translate.goog/news/147902/economy/نائبة:-لا-يجوز-تحميل-المواطن-فاتورة-الفشل-الاقتصادي-وسوء-الت?_x_tr_sl=ar&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc
Al-Haidari: The Private Sector Is The Saver Of The Iraqi Economy From Collapse.
Information/Special... Former MP Razzaq al-Haidari emphasized on Tuesday the necessity of enacting laws to protect merchants and workers in the private sector, stressing that supporting this sector has become essential to safeguarding the Iraqi economy from the risks of complete dependence on a rentier system based on oil exports and the expenditure of revenues.
Al-Haidari told Al-Maalouma that "the absence of laws guaranteeing investors' rights and the lack of streamlined administrative procedures have contributed to the decline in the attractiveness of the investment environment and the flight of foreign capital from Iraq." He explained that "the continuation of traditional methods in managing the economy limits opportunities for diversifying income sources."
He added that "the Iraqi economy faces risks due to its heavy reliance on oil, which makes it vulnerable to fluctuations in global markets," noting that "the transformations in the energy sector and the expansion in the use of renewable and clean energy sources necessitate a review of economic policies and diversification."
Al-Haidari explained that providing legal protection for investors and private sector employees, and clarifying the rights and obligations of all parties involved in the investment process, would enhance confidence in the Iraqi economy and encourage local and foreign capital to invest in productive projects.
He pointed out that "developing legislation, simplifying procedures, and improving the business environment are essential steps to transform Iraq into an attractive investment destination, contributing to job creation, strengthening productive sectors, and reducing dependence on oil revenues."
Al-Haidari emphasized that “building a diversified and sustainable economy requires a clear political commitment to supporting the private sector and providing genuine guarantees for investors, thus protecting the economy from financial crises and enhancing its ability to face future challenges.”
Central Bank Of Iraq Issued A Decision Preventing The International Development Bank In Iraq From Dealing In US Dollars.
According to a letter issued by the Central Bank and received by Baghdad Today, the Central Bank decided to prevent the bank from trading in US dollars "in any form", as part of official circulars addressed to non-banking financial institutions.
It is noteworthy that the International Development Bank in Iraq was included in an American decision issued last week to impose economic sanctions on it and prevent it from trading the dollar. https://baghdadtoday.news/306791-.html?utm_source=hathalyoum.net&utm_medium=referral&utm_campaign=news_redirect
Official Document: The Central Bank Of Iraq Prohibits The International Development Bank From Dealing In US Dollars In All Its Forms.
Last updated: October 22, 2026 The Independent Press Agency obtained a document issued by the Central Bank of Iraq, which includes a decision to prevent the International Development Bank from dealing in US dollars in any way, in a new step related to the regulatory measures imposed on the Iraqi banking sector.
According to the document obtained by “Al-Mustaqilla,” issued by the Banking Supervision Department of the Central Bank of Iraq, dated October 22, 2026, the decision came within an official circular addressed to all licensed banks and non-bank financial institutions, stipulating a comprehensive ban on dealing with the International Development Bank in US dollars.
The official document, signed by the Deputy Governor of the Central Bank of Iraq, Professor Dr. Ammar Hamad Khalaf, stated: “It has been decided to prohibit the International Development Bank from dealing in the US dollar in any way whatsoever.”
The use of the phrase “in any way” in the circular indicates the broad scope of the dollar-related ban, while the published document did not include additional details regarding the implementation mechanisms of the decision, possible exceptions, or its duration.
This development comes amid increasing regulatory measures aimed at organizing dollar transactions within Iraq, and enhancing banks’ compliance with international banking and financial requirements, particularly those related to combating money laundering and terrorist financing and auditing foreign transfers.
Information circulating had indicated that the International Development Bank was subject to US measures during the past week, but the document obtained by “Al-Mustaqilla” does not include an explicit reference to a US sanctions decision or to the party that requested the imposition of the ban, which necessitates distinguishing between the measure issued by the Central Bank of Iraq and any independent US sanctions.
From a banking perspective, the ban may affect the bank’s ability to carry out transactions denominated in US dollars, including transfers and settlements related to this currency, according to the implementation mechanisms adopted by the relevant regulatory and banking authorities.
The decision, in itself, does not mean withdrawing the bank’s license, closing its branches, or stopping all its transactions in Iraqi dinars, as the document did not include any text indicating taking such measures.
The decision raises questions about the future of the bank’s foreign transactions, customer obligations related to the dollar, and mechanisms for handling existing transactions, especially since the circular does not contain details on these matters.
These developments come at a sensitive time for the Iraqi banking sector, amid ongoing efforts to reorganize external transfer channels and strengthen oversight of money movement, ensuring compliance with international standards and maintaining the stability of the financial system.
The Independent Press Agency publishes the document it obtained, which reveals the content of the official decision issued by the Central Bank of Iraq, while the details of its implementation and its repercussions on the bank’s work remain subject to subsequent clarifications from the concerned authorities.
IMG_9173.jpeg https://mustaqila.com/بالوثيقة-البنك-المركزي-العراقي-يمنع-م/