AM:11:04:12/08/2025
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Governor of the Central Bank of Iraq, Ali Alaq, announced that the bank’s mechanism for transferring and exchanging US dollars has proven successful and has received international recognition.
Speaking on Tuesday, Alaq noted that around 80% of Iraq’s money remains stored in households due to public distrust in banks. He stressed that the ongoing banking reform project is a strategic step toward building confidence in the country’s financial system.
He added that the recent measures contributed to a drop in the dollar’s exchange rate, which fell to 138,000 dinars in recent days.