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Is this what  4Twenty said ...Is it new and Current?:

 

In detail .. These are the new customs controls
6 hours ago Economy 149 visits

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The General Authority of Customs announced on Tuesday new instructions and controls for the declaration of funds when they are introduced and exported across the Iraqi border and issued by the Central Bank of Iraq / Anti-Money Laundering and Terrorism Financing Council.

"According to the provisions of Paragraph (4) of Article (7) and the provisions of Articles (34) and (35) of the Anti-Money Laundering and Terrorism Financing Law No. (39) for the year 2015, we issued the following regulations:

The rules governing the declaration of funds when entering and removing them across the Iraqi border, based on the provisions of the paragraph and the two articles relating to the obligation of each person upon entry into or departure from Iraq, upon the request of the representative of the General Authority of Customs on the carrying of funds, currencies or negotiable instruments to be held or transferred to Iraq Or by means of a person, postal service, shipping service or by any other means. The permit shall include the value of such currencies or instruments. Based on the approval of the AML / CFT Council at its meeting in July 2017, it was decided that:

1. Every traveler who enters or exits Iraqi territory must declare the following:

(A) The money of more than ten thousand dollars or the equivalent in other foreign currencies.

Precious stones and precious metals if their value exceeds (10,000) ten thousand US dollars.

(C) negotiable financial instruments of a holder or transferred within or outside Iraq through a person, postal service, shipping service or any other means in excess of US $ 10,000.

2. The passengers shall declare with the employees of the General Authority for Customs at the airport or the border crossing points in the Republic of Iraq according to the form attached to these regulations. The limits mentioned in item (1) shall apply to persons who are 18 years or older, For (18) years, the money in their possession must be added to the limit allowed to the guardian.

3. The entry and exit of the Iraqi currency shall be restricted to and from Iraq only by the authorized limits of (200000) two hundred thousand Iraqi Dinars. In case of transfer of an amount higher than the said limit through a person or postal service or shipping service or by any other means, Above the limit and fill out the authorization form and send it to the AML / CFT Office.

4. Each customs department at airports and border crossings shall take the following measures:

(A) The development of sufficient guidance boards and languages (Arabic, Kurdish and English) in high and visible places, showing the provisions of these regulations.

(B) To require the passengers to fill out the above-mentioned permit form if they have cash or negotiable financial instruments for their holder, the amounts of which exceed ten thousand (10,000) US dollars or the equivalent in other foreign currencies and if they have more than (200000) ) Two hundred thousand Iraqi dinars and if they are in possession of precious stones and precious metals worth more than (10000)

C- Provide appropriate numbers of permit forms at all border crossings to provide incoming and outgoing travelers for the purpose of declaring the cash and financial instruments, precious stones and precious metals in their possession.

(E) The maintenance of regular records in which all cases of authorization made by the Customs Department and cases in which the passenger has not made the required authorization in accordance with the provisions of the Money Laundering and Terrorism Financing Law and these regulations shall be kept and kept for five years or more depending on the nature of the cases.

(F) Request additional information from travelers about the source of the funds and the purpose of their transfer in the event of a false declaration or in the absence of authorization, with no convincing reason for not declaring or in case of suspicion.

(G) Providing the AML / CFT Office with authorization forms and any information it requests.

5 - In addition to what is stated in item (3) above, the staff of the General Authority for Customs at the border crossings to seize cash and negotiable financial instruments and precious stones and precious metals for any of the following cases:

(A) Failure to permit the traveler and discovery of funds exceeding the limit specified in item (1) above or giving false information thereon. Employees of the General Authority of Customs should investigate the reasons for not requesting the form and the reservation in case there are no actual convincing reasons. Convincing the absence of suspicion is filled out form and release the amount.

(B) There is sufficient evidence to suspect that the money described in item (1) above is derived from an original crime, money laundering offense or a terrorist financing offense or is intended for that purpose.

6. The Anti-Money Laundering and Terrorism Financing Office shall issue a recommendation to lift the seizure of the reservations provided for in item (5) of these regulations in the case of reinforcements confirming the validity of the checks or referring them to the items within seven (7) days from the date of notification of the decision. For customs purposes.

7 - Cash and negotiable financial instruments, precious stones and precious metals issued and delivered by mail, shipping service or other means shall be stated in accordance with item (1) and (2) above.
 

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"3. The entry and exit of the Iraqi currency shall be restricted to and from Iraq only by the authorized limits of (200000) two hundred thousand Iraqi Dinars."

 

It's 5 cents per dinar, as figured by someone on PD, after reading the article, 4 hours ago.

 

You are allowed to carry $10,000 in other countries without declaring it, but only 200,000 dinars in Iraq.  

 

In other words, 200,000 dinars at 5 cents each = $10,000, same amount as in other countries.

Edited by Floridian
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So yeah at .5 Cents, if you invested 20,000 or so Dollars in dinar and had 20,000,000 dinar it would be worth 1 million dollars ...Not what any of us wanted but  still a respectable return on investment   ... But This is all conjecture at this point.. The weight  challenged Lady has not yet sung yet unless I missed that ;) 

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