Central Bank Reduces Dollar Quota for Travelers Amid New Financial Reforms

The Central Bank of Iraq has issued new regulatory directives regarding the provision of foreign currency to citizens traveling abroad, reducing the monthly maximum cash allowance for an adult traveler to $2,000 instead of $3,000. In an official statement, the Bank clarified that this decision is part of a reform package aimed at ensuring equitable access to foreign currency and stabilizing the monetary market. The Bank emphasized that these measures are purely regulatory, designed to align with global payment trends by encouraging the use of electronic payment cards. This shift aims to enhance travel flexibility, support the transition to a digital economy, and serve the nation's supreme economic interests without compromising citizens' rights.