Iraq to end all dollar cash withdrawals by January 1 2024 ...Kuwait

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Iraq to end all dollar cash withdrawals by January 1 2024
source : The New Arab ( Kuwait ) () 31
Iraq will ban cash withdrawals and transactions in US dollars as of January 1 2024 in the latest push to curb the misuse of its hard currency reserves in financial crimes and the evasion of US sanctions on Iran, a top Iraqi central bank official said. The move aims to stamp out the illicit use of some 50 percent of the $10 billion that Iraq imports in cash from the New York Federal Reserve each year, Mazen Ahmed, director-general of investment and remittances at the Iraqi central bank (CBI), told Reuters. It's also part of a broader push to de-dollarise an economy that has seen the greenback preferred over local notes by a population weary of recurring wars and crises

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