The Central Bank of Iraq launched a new service for pilgrims. It allows them to exchange dinars for dollars with ease. This new program includes selected banks and licensed financial companies. These entities now offer direct access to US dollars.
Pilgrims can visit bank branches in Baghdad and other provinces. There, they can exchange their Iraqi dinars for US dollars. Importantly, the Central Bank of Iraq shared a full list of authorized institutions. This helps customers know exactly where to go.
In addition, officials emphasized the simple process. Pilgrims just need to present proper identification and the required amount of dinars. This initiative aims to reduce stress during pilgrimage travel. It also supports safe and transparent currency exchange.
Moreover, the Central Bank of Iraq designed this plan to avoid black market dealings. The goal is to protect citizens from unfair rates. Several banks in Baghdad already started providing this service. Likewise, provincial branches followed by activating their dollar exchange counters.
Meanwhile, authorized companies also joined the program. Many are offering competitive rates and fast processing to attract more pilgrims. Further benefits include improved oversight and regulated dollar availability. This helps prevent inflation caused by illegal dollar flows.
Officials at the Central Bank of Iraq stated they will monitor all transactions closely. Transparency and accountability remain their top priorities. Pilgrims who travel soon can plan their exchanges early. This helps them avoid delays or last-minute financial stress.
Additionally, the bank’s move strengthens confidence in Iraq’s financial system. It shows a direct response to public needs during religious seasons. Previously, many pilgrims relied on unofficial exchange sources. That method often included high fees and unreliable practices.
Now, with this official system in place, travelers can save time and money. They also benefit from legal protections. The Central Bank of Iraq encouraged all travelers to use authorized locations. These places offer fair rates and professional service.
Going forward, the bank may expand the program. If demand increases, more banks and companies could join the list. In summary, the Central Bank of Iraq took a strong step. It helped pilgrims get dollars quickly, safely, and legally.