Iraqi state bank refuses US dollars to collect insurance

Shafaq News / Al-Rafidain State Bank announced on Wednesday that all cash insurances in Iraqi dinars have been collected exclusively for internal credits, bank guarantees, and assurance certificates issued for the benefit of government and private beneficiaries, even if the insurances are in dollar and at the official exchange rate.

The bank stated that the sums of assurance certificates upon confiscation are paid in Iraqi dinars solely and at the official exchange rate.

This comes in line with government directives to deal with the Iraqi dinar instead of the dollar to enhance it in the local market, According to the bank.