2024-01-19T05:15:31+00:00
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/ The Central Bank of Iraq plans to gradually cancel the electronic platform for foreign transfers during the current year 2024, until it is completely canceled by the end of the year, and to keep it for auditing and statistical purposes.
This comes within the framework of the Central Bank of Iraq’s efforts to enable Iraqi banks to establish and establish solid banking relations with the global and regional banking sector in a way that achieves the solidity of the Iraqi banking sector and full compliance with international standards and their requirements, according to a document issued by the bank, which was received by Agency.
According to the document, Iraqi banks must work to be prepared and able to access and deal with correspondent banks.
According to the Central Bank, there are two types of requirements, some of which are basic and must be provided and worked on to be completed as quickly as possible, and some of which are important and support the efforts of banks in this field. All banks will be required to provide the three basic requirements in order to help them open accounts with correspondent banks, as shown in the document below.