The Central Bank of Iraq has raised the funds it allocates to support the housing sector to 3 trillion Iraqi dinars, about $1.97 billion, from 1 trillion dinars, according to a central bank document reported on Sunday by Shafaq News and PUKmedia.
The increase is meant to meet demand from citizens seeking to buy apartments and homes in residential complexes.
The previous allocation was set under a directive dated August 22, 2024. The new decision keeps the same terms and conditions.
The central bank cited the Central Bank of Iraq Law No. 56 of 2004, as amended, as the legal basis for the increase.
It asked the director general of the state-owned Real Estate Bank to visit its headquarters on Al-Rashid Street in Baghdad to sign an addendum to the financing contract and complete the procedures.
In a separate statement, the central bank said the US Department of the Treasury had lifted restrictions on several Iraqi exchange companies after they met compliance requirements set by the central bank.
The move allows those companies to resume selling US dollars to travelers, the central bank said.
