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Economy, Currency and Banking

Rafidain Bank, Real Estate banks, Central Bank of Iraq, Iraqi dinar, foreign exchange transactions

The monetary unit is the Iraqi dinar, consisting of 1,000 fil or 20 dirham (0.31 dinars equal U.S.$1; fixed rate). Currency is issued by the Central Bank of Iraq, which also controls the banking system and foreign exchange transactions. All banks in Iraq were nationalized in 1964. In addition to the Central Bank, the system consists of the Rafidain Bank, which handles government accounts, including oil revenues, and five specialized banks: the Agricultural, Cooperative, Industrial, Mortgage, and Real Estate banks.



Article key phrases:

Rafidain Bank, Real Estate banks, Central Bank of Iraq, Iraqi dinar, foreign exchange transactions, monetary unit, oil revenues, government accounts, dirham, fil, fixed rate, Mortgage, banking system, Currency, addition

 
 

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