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\u201cThe dollar is out of control.\u201d What will happen in Iraq\u2019s banks on Sunday?

The spark started from Reuters

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An informed banking source in Baghdad expected that next Sunday will be an \u201cunusual day\u201d in all Iraqi banks, and may witness unprecedented overcrowding and crowding at cash withdrawal windows, after a dramatic statement by an official from the Central Bank to Reuters, that withdrawing the dollar in cash will stop as of Early next year, in an effort by the government to limit transactions in dollars to the maximum extent, coinciding with approximately one year since the start of American strictness in transferring money to Iraq.

The statement of the remittance official at the Central Bank led to a crisis within the bank, and we expect this to affect bank customers.

I expect that customers will rush to the banks on Sunday morning to withdraw their balances in dollars, because things have gotten out of control, especially since the Treasury Department and the US Federal Reserve have not agreed to deliver the dollar in cash to Iraq since last February.

The most affected will be those who depend on periodic external transfers that reach them through Iraqi banks, such as salaries, rents, etc., and it is better for them to look for other banks outside Iraq to receive their money.

The banking source in an interview:\n\n