Rafidain Bank suspends dollar delivery to travelers

Shafaq News / A source revealed on Thursday that Rafidain Bank has halted the delivery of dollars to travelers, informing Shafaq News Agency that the suspension was due to various reasons, most notably the bank's failure to receive its allocated share of dollars from the Central Bank of Iraq (CBI).

CBI froze Rafidain Bank's dollar allocation despite the bank's readiness to meet requests for dollars from other banks. The source also pointed out that ongoing investigations into embezzlement of dollar amounts at Baghdad International Airport have contributed to the suspension of Rafidain Bank's dollar allocation.

Last January, CBI decided to include banks allowed to participate in the electronic platform and willing to sell cash dollars for travel, medical treatment, and study purposes. The bank directed government banks (Rafidain, Rasheed, and the Iraqi Trade Bank) to expand outlets for selling cash dollars to travelers at the country's airports (Baghdad, Basra, Najaf, Erbil, and al-Sulaymaniyah).

Notably, CBI, in collaboration with the federal government, has issued strict instructions to curb the smuggling of hard currency out of the country.