Central Bank of Iraq

The Central Bank of Iraq (CBI) is the central bank of the Republic of Iraq. It is responsible for the issuance and regulation of the country’s currency, the Iraqi dinar. The bank was established in 1947 and is headquartered in Baghdad, Iraq. The CBI is also responsible for maintaining price stability, promoting economic growth and development, and ensuring the stability of the financial system in Iraq.

The CBI is responsible for issuing and regulating the country’s currency. The bank is responsible for the printing and distribution of the Iraqi dinar, as well as for its circulation and exchange rates. The CBI also sets monetary policies and interest rates to ensure price stability in the country.

The CBI plays an important role in promoting economic growth and development in Iraq. The bank works to create an environment that is conducive to economic growth by promoting investment and trade, as well as by providing financing for economic development projects. The CBI also supports the government’s efforts to diversify the economy and reduce its dependence on oil.

The CBI is responsible for maintaining the stability of the financial system in Iraq. The bank works to ensure that the country’s banks and financial institutions are well-regulated and that they are operating in a safe and sound manner. The CBI also works to prevent financial crises and to respond to them if they occur.

The CBI is governed by a board of directors, which is composed of a governor, who is appointed by the President of Iraq and confirmed by the Council of Representatives, and two deputy governors, who are also appointed by the President and confirmed by the Council of Representatives. The governor and the deputy governors are appointed for a four-year term.

Overall, the Central Bank of Iraq (CBI) is a vital institution that plays a critical role in ensuring the stability of the country’s economy and financial system. The CBI is responsible for issuing and regulating the country’s currency, promoting economic growth and development, and maintaining the stability of the financial system in Iraq. The bank is governed by a board of directors, which is appointed by the President of Iraq and confirmed by the Council of Representatives.

Content updated 1/25/23

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