CBI Manager Calls for Dollar Smuggling Cessation Through Ibrahim KhalilEconomy 12:21 PM - 2023-08-14
Ibrahim Khalil Border Crossing
The Kurdistan Regional Government (KRG) has been warned by the Central Bank of Iraq (CBI) to put an end to the smuggling of US dollars through the Ibrahim Khalil Border Crossing into Turkey.
Dr. Bryar Rashid, a member of the Iraqi parliament, told PUKMEDIA: "The Economy, Industry, and Commerce Committee of the Iraqi Parliament convened a meeting with the CBI Manager, during which it was highlighted that an enormous amount of US dollars is smuggled daily from the border points between the KRG and Turkey and subsequently redirected to other countries, and this has been the primary cause for the instability observed in the value of the US dollar within Iraq."
He continued, "The CBI Manager informed us that they had contacted the KRG regarding the issue and requested that the KRG cease transporting dollars through the Ibrahim Khalil into Turkey and assist the bank in stabilizing the value of the dollar."
Dr. Rashid stated that the CBI is currently implementing measures to stabilize the value of the dollar. These measures take two main approaches: facilitating merchant transactions and utilizing various platforms, as well as implementing stricter measures at border crossings to prevent dollar smuggling.
Previously, the CBI Manager, Ali Alaq, mentioned the illegal transportation of US dollars through Ibrahim Khalil to Turkey, expressed concern about the large amount of money being smuggled, and urged the KRG to take measures to prevent this illegal activity.
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