economy Iraqi Trade Bank Sell the dollar Small merchants
Shafaq News/ The Baghdad Chamber of Commerce confirmed, on Monday, that the move of the Trade Bank of Iraq (TBI) prevented the rise in the price of the dollar, while it indicated that 90% of consumer goods are imported.
The head of the Chamber, Firas Al-Hamdani, said, in an interview with Shafaq News agency,
"The Iraqi markets are completely affected by the dollar, because 90% of consumer goods are imported, and therefore the high price of the dollar results in price inflation." He pointed out that
"the Iraqi government is serious about controlling the price of the dollar and
has taken a positive step by authorizing the Central Bank of Iraq to the Trade Bank of Iraq (TBI) to sell the dollar at a price of 1320 Iraqi dinars to small merchants for import purposes
without the requirement to submit the fundamental documents that belong to companies except for its affiliation with the Chamber of Commerce." or has a commercial record. He stressed that
"this step limited the rise in the price of the dollar against the dinar and created relative stability in the prices of goods in the local markets, because this matter is linked to the transfer of currency abroad, and
therefore we need the central bank and Iraqi banks to be supportive of the merchant." Al-Hamdani pointed out that
"the Iraqi Trade Bank, on July 30, began transferring dollar purchase requests to small merchants (shop owners), amounting to 100 thousand dollars per merchant at a price of 1320 per dollar, through banks directly without the need to participate in the electronic platform of the Central Bank."".