The Iraq Future Company announced that traders will no longer be able to access dollars from the Central Bank unless they fulfill customs duties and implement the ASYCUDA system (Automated System for Customs Data).

Manar al-Obaidi, Executive Director of Iraq Future Company for Economic Studies and Consultations, stated that starting early next year, banks will be prohibited from transferring dollars to traders who have not settled their customs duties in advance.

Traders who have paid the customs fees will then be eligible to receive dollars at the government rate.

Al-Obaidi linked measures to the ASYCUDA system

Al-Obaidi clarified that these measures are closely tied to the deployment of the ASYCUDA system, which is a software platform that automates customs procedures, reduces paperwork, enhances revenue, and facilitates faster, more transparent trade.

Iraq's Adoption of the UN-Developed ASYCUDA System

Developed by the United Nations, ASYCUDA is an international platform designed to digitize customs processes. Iraq has been implementing the system for over six months, and it has become a mandatory requirement for most types of shipments.