By John Lee.
The Central Bank of Iraq (CBI) has reported that 18 banks took part in its currency auction on Sunday.
A total of $227,144,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar.
(Source: Central Bank of Iraq)
Tags: Central Bank of Iraq (CBI), dinar, Dinar Exchange Rate News, Dinar Revaluation News, IQD, Iraqi Dinar News, re-denomination, re-valuation, Redenomination
many banks had been collapsed since 2010 because of CBI corrupted control officers, they collapsed one after another for the same reason lack of liquidity, actually the owners withdraw all the cash by making drafts and then the CBI put the banks under the conservatory , so the depositors could not persecute the owner . hence more than three years and the depositors of the first collapsed bank did not get their money back . once I went to Aleqtesad Bank in Mansur district I saw the Security men kicking one of the customers because he wanted to speak with the owner while he was in his bank then they threatened another customer not to blog on the internet because the owner is from a powerful religious party.