The Central Bank of Iraq (CBI) (Arabic: البنك المركزي العراقي; Kurdish: بانکی ناوەندی عێراق) is the central bank of Iraq. It was established in 1947, the same year in which the British occupation of Iraq was ended. CBI's primary objectives are to ensure domestic price stability and foster a stable competitive market based financial system. After World War I and the dissolution of the Ottoman Empire, Iraq's monetary system was administered by the British Mandate of Mesopotamia until 1931, when the Iraq Currency Board was established in London to issue the new Iraqi dinar and maintain its reserves. The Iraq Currency Board pursued a "conservative monetary policy, maintaining very high reserves behind the dinar", which was "further strengthened by its link to the British pound". More information...
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