CBI Triples Housing Allocations to 3 Trillion Dinars, Announces Easing of Restrictions on Exchange Companies

CBI's Media

CBI's logo in front of its building.

The Central Bank of Iraq (CBI) has increased funds allocated to support the housing sector from 1 trillion to 3 trillion Iraqi dinars (about $1.97B), while announcing that the US Department of the Treasury has lifted restrictions on several Iraqi exchange companies after they met the required compliance standards.

According to an official document reviewed by PUKMEDIA, the increased allocation aims to meet demand from citizens seeking to purchase residential units in housing complexes. The decision is based on the Central Bank of Iraq Law No. 56 of 2004, as amended, and follows an earlier allocation announced on 22 August 2024.

The document also requests that the Director General of the Real Estate Bank visit the CBI headquarters on Al-Rashid Street to sign an addendum to the relevant contract and complete the necessary formalities in line with the terms set out in official correspondence.

In a separate statement obtained by PUKMEDIA, the Central Bank said the US Department of the Treasury had lifted restrictions on several Iraqi exchange companies after confirming that they had met the compliance requirements set by the CBI. The move allows the companies to resume participating in the sale of US dollars to travellers.

The Central Bank said the decision forms part of ongoing efforts to strengthen regulatory compliance and organise foreign currency sales within established frameworks.

The measures are intended to expand financing opportunities for citizens seeking to buy homes while reinforcing oversight of Iraq’s foreign exchange market.



PUKMEDIA