The Banks Association reassures Iraqis: Dollar reserves are substantial and the exchange rate stability is approaching.

The Association of Private Banks in Iraq confirmed today, Sunday, that the Central Bank of Iraq continues to meet all requests for converting dollars to outside the country, noting that foreign currency reserves enjoy significant strength, which reinforces the prospects for exchange rate stability.
The Executive Director of the association, Ali Tariq, stated in a statement followed by the Video News Agency, that "the Central Bank of Iraq meets all requests for converting dollars outside Iraq, and work in this direction continues without interruption."
He added that security and political conditions affect the movement of the dollar exchange rate within local markets, but he emphasized that the substantial and solid reserves at the Central Bank enable it to meet the market's needs for foreign currency.
Regarding the sanctions imposed on some banks, Tariq explained that banks are currently committed to local and international working standards, expressing hope that no financial sanctions will be imposed on Iraq in the upcoming phase.