The Central Bank of Iraq issues new instructions regarding granting dollars to travelers at airports
Shafaq News / The Central Bank of Iraq revealed, on Thursday, the new mechanism for travelers to receive foreign currency (dollars), which will be exclusively through companies and banks’ outlets at international airports, stressing that the goal of the new mechanism, which will come into effect on July 14, is to deliver the dollar to the real traveler and pass sound transactions, in addition to facilitating travelers’ access to the dollar faster.
The Central Bank reviewed the new mechanism for travelers to receive their share of foreign currency (dollars) by the traveling citizen going to the authorized exchange companies spread across all cities to deliver the amount in dinars equivalent to the citizen’s share of the dollar according to the official exchange rate of the Central Bank of Iraq. The company will work to enter the traveling citizen’s data and upload his name to the electronic platform of the Central Bank of Iraq and deliver him a receipt confirming his deposit of the dinar, to receive the cash dollar inside the airport exclusively.
The bank explained in a statement issued today that upon completion of departure procedures, the amount will be delivered to him in dollars through the outlets available at the airport, 24 hours a day, 7 days a week.
The statement indicated that the Central Bank decided to allow exchange companies to receive more than one share during the week in order to achieve full response to travelers’ requests.
Meanwhile, the Central Bank of Iraq directed exchange companies to proceed with the instructions to launch the new mechanism for delivering dollars at airports.
This came in a letter addressed by the bank’s management in an official letter issued on the fourth of July and signed by the Director of Supervision of Non-Banking Financial Institutions, Rafeef Mu’ayyad Bashir, to four exchange companies that provide dollars to travelers at Iraqi airports.
Last Monday, the Central Bank of Iraq issued new instructions regarding granting US dollars to travelers, indicating that these instructions will come into effect starting from July 14.
According to the bank’s statement, which was addressed to Rafidain, Rashid, and Iraqi Trade Banks, exchange companies currently operating at airports, and exchange companies of category A and B, “in order to ensure that travelers receive cash dollars and to prevent exchange companies from passing improper transactions, it was decided to set 7/14/2024 as the final date for starting the mechanism of granting dollars to travelers at airports exclusively.”
According to the Central Bank, the aforementioned banks and exchange companies operating at the airport are entitled to a fixed commission of (15,000) dinars from the customer for each transaction, and the exchange companies outside the airport collect it for the benefit of the companies and banks operating at the airport, according to a mechanism determined between the two parties, the banks and companies operating at the airport and the exchange companies outside the airport.
Shafaq.com