National Bank of Iran Apologizes for Currency Payment Method to Iranian Pilgrims in Iraq

The National Bank of Iran issued a statement apologizing for the method of foreign currency payment to Iranian pilgrims in Iraq, which was conducted through holes in a dilapidated building, blaming the Central Bank of Iraq and Iraqi security agencies for the incident. This statement was released on Tuesday evening, November 8, following widespread photos and videos of the event circulating on social media and negative reactions to it. The statement claims that the Central Bank of Iraq had refrained from cooperating with the National Bank of Iran at various stages of decision-making regarding the allocation of currency to Iranian pilgrims. Initially, it was decided that Iraqi dinars would be given to Iranian pilgrims within the country, but the Central Bank of Iraq did not cooperate for the transfer of dinars to Iran. Iran is facing a chaotic currency situation under U.S. sanctions, which will intensify next week, leading to a dramatic increase in the dollar rate, reaching about 19,000 tomans, although it later decreased to below 14,000 tomans on November 8. Meanwhile, Adel Abdul-Mahdi, the new Prime Minister of Iraq, assured that Iraq's interests and independence would be prioritized in the implementation of U.S. sanctions against Iran. The former Prime Minister of Iraq also stated that although the country is 'principally' opposed to these sanctions, it complies with them. The National Bank of Iran's statement further addresses the issues of currency payment to Iranian pilgrims this time within Iraq, mentioning 'adverse weather conditions' such as 'storms and heavy rains in the Mehran border area' that disrupted the transportation of containers and the establishment of foreign currency payment booths in pilgrimage cities in Iraq. The statement adds that when the booths were finally established, only hours later, 'the Central Bank of Iraq and the country's security forces, for various reasons including the lack of necessary permits and security considerations, shut down more than 200 booths of the National Bank, including those located at Najaf airport.' Videos circulating on social media show a group of Iranian participants in the Arbaeen ceremony receiving currency through holes in an old building wall. In recent years, the Islamic Republic has made extensive investments to hold the Arbaeen ceremony by sending tens or even hundreds of thousands of pilgrims to Iraq, to the extent that analysts refer to it as a 'show of power' by the Iranian government. This year, according to Islamic Republic officials, Iranian pilgrims obtained currency at the official rate, which differs significantly from the free market rate.