This is from the U.S. State Department referring about the Iraqi Dinar currency restrictions by the banks who are not to engage in speculative purposes.
The currency of Iraq is the Dinar (IQD – sometimes referred to as the New Iraqi Dinar). The Iraqi currency is fully convertible and can be exchanged freely with any other currency. The new investment law allows investors to bank and transfer capital inside or outside of Iraq, which provides considerable flexibility for foreign investors.
The Government of Iraq’s monetary policy since 2003 has focused on maintaining price stability and a stable exchange rate. Banks may engage in spot transactions in any currency, but are not allowed to engage in forward transactions in Iraqi Dinar for speculative purposes. The Central Bank of Iraq (CBI) can intervene, when necessary, in order to maintain stability in the foreign exchange market. There are no taxes or subsidies on purchases or sales of foreign exchange.