Hundreds of Iraqis gathered in front of the Central Bank's headquarters in Baghdad on Wednesday to protest over the currency inflation crisis.
Security officials were sent to safeguard the headquarters as riot police cordoned off the area as dozens of activists gathered near the Central Bank building.
However, no clashes or arrests were made.
“Our demands are clear: government must intervene to stop the decline of dinar value because we’re suffering from high prices in local markets,” said Asaad Khudhaer, a labourer who came to the protest from the southern city of Najaf.
“Stop the neighbours stealing our dollars,” one banner read, referring to Iran.
Some merchants in the surrounding area also closed down their shops and joined the protesters, some raising placards that read “the politicians are the ones covering up financial corruption for the banks.”
The protesters, mainly young people, rallied amid a heavy security presence in the capital.
Protesters were seen waving Iraqi flags in Baghdad early on Wednesday, and protests then spread to different regions, with people demanding government intervention to stop the decline of the currency.
Activists close to the Sadrist and youth-led Tishreen movement, as well as civil rights groups, had called for gatherings outside the bank on Wednesday after a week-long plunge of the Iraqi dinar that led Prime Minister Mohammed Shia Al Sudani to sack Central Bank chief Mustafa Ghaleb Mukheef.
The demonstrations were expected and a journalist from The National confirmed early on Wednesday that several groups of people had been seen crossing Al Shuhadaa (Martyrs') Bridge that leads to the bank.
The Iraqi dinar hit new lows on Friday, reaching about 1,670 to the dollar on the street. The currency has lost nearly 7 per cent of its value since mid-November. The official rate stands at 1,470 dinars per dollar.
Iraq’s Interior Ministry on Wednesday announced the arrest overnight of suspects accused of “manipulating” dollar exchange rates in Kirkuk and Erbil.
Mr Al Sudani is expected to travel to Paris on Thursday where he will meet the French leadership.
He said the drop in the dinar’s value would be top of his agenda as part of discussions with French President Emmanuel Macron.
Mr Al Sudani dismissed the previous bank governor and appointed its former chief Ali Mohsen Al Alaq on Monday to replace him in an attempt to assuage public anger over the currency crisis.
Mr Al Alaq previously led the Central Bank from 2014 to 2020.
The US has been complaining that the dollar is being funnelled to Iran, Syria and Lebanon through a foreign currency auction run by the Central Bank of Iraq. Iran and Syria are under US sanctions.
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
KILLING OF QASSEM SULEIMANI
The specs
Engine: 3.5-litre V6
Power: 272hp at 6,400rpm
Torque: 331Nm from 5,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.7L/100km
On sale: now
Price: Dh149,000
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The specs: 2018 Volkswagen Teramont
Price, base / as tested Dh137,000 / Dh189,950
Engine 3.6-litre V6
Gearbox Eight-speed automatic
Power 280hp @ 6,200rpm
Torque 360Nm @ 2,750rpm
Fuel economy, combined 11.7L / 100km
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%3Cp%3EAverage%20amount%20of%20biofuel%20produced%20at%20DIC%20factory%20every%20month%3A%20%3Cstrong%3EApproximately%20106%2C000%20litres%3C%2Fstrong%3E%3C%2Fp%3E%0A%3Cp%3EAmount%20of%20biofuel%20produced%20from%201%20litre%20of%20used%20cooking%20oil%3A%20%3Cstrong%3E920ml%20(92%25)%3C%2Fstrong%3E%3C%2Fp%3E%0A%3Cp%3ETime%20required%20for%20one%20full%20cycle%20of%20production%20from%20used%20cooking%20oil%20to%20biofuel%3A%20%3Cstrong%3EOne%20day%3C%2Fstrong%3E%3C%2Fp%3E%0A%3Cp%3EEnergy%20requirements%20for%20one%20cycle%20of%20production%20from%201%2C000%20litres%20of%20used%20cooking%20oil%3A%3Cbr%3E%3Cstrong%3E%E2%96%AA%20Electricity%20-%201.1904%20units%3Cbr%3E%E2%96%AA%20Water-%2031%20litres%3Cbr%3E%E2%96%AA%20Diesel%20%E2%80%93%2026.275%20litres%3C%2Fstrong%3E%3C%2Fp%3E%0A
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The specs
Engine: 5.0-litre V8
Power: 480hp at 7,250rpm
Torque: 566Nm at 4,600rpm
Transmission: 10-speed auto
Fuel consumption: L/100km
Price: Dh306,495
On sale: now
'The Sky is Everywhere'
Director:Josephine Decker
Stars:Grace Kaufman, Pico Alexander, Jacques Colimon
Rating:2/5
2.0
Director: S Shankar
Producer: Lyca Productions; presented by Dharma Films
Cast: Rajnikanth, Akshay Kumar, Amy Jackson, Sudhanshu Pandey
Rating: 3.5/5 stars
UAE currency: the story behind the money in your pockets
Emergency phone numbers in the UAE
Estijaba – 8001717 – number to call to request coronavirus testing
Ministry of Health and Prevention – 80011111
Dubai Health Authority – 800342 – The number to book a free video or voice consultation with a doctor or connect to a local health centre
Emirates airline – 600555555
Etihad Airways – 600555666
Ambulance – 998
Knowledge and Human Development Authority – 8005432 ext. 4 for Covid-19 queries
Tightening the screw on rogue recruiters
The UAE overhauled the procedure to recruit housemaids and domestic workers with a law in 2017 to protect low-income labour from being exploited.
Only recruitment companies authorised by the government are permitted as part of Tadbeer, a network of labour ministry-regulated centres.
A contract must be drawn up for domestic workers, the wages and job offer clearly stating the nature of work.
The contract stating the wages, work entailed and accommodation must be sent to the employee in their home country before they depart for the UAE.
The contract will be signed by the employer and employee when the domestic worker arrives in the UAE.
Only recruitment agencies registered with the ministry can undertake recruitment and employment applications for domestic workers.
Penalties for illegal recruitment in the UAE include fines of up to Dh100,000 and imprisonment
But agents not authorised by the government sidestep the law by illegally getting women into the country on visit visas.