2024-01-19T05:15:31+00:00
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/ The Central Bank of Iraq is planning to gradually cancel the electronic platform for external transfers during the current year 2024, leading to its complete cancellation by the end of the year, and keeping it for audit and statistical purposes.
This comes within the framework of the Central Bank of Iraq’s endeavor to enable Iraqi banks to establish and establish solid banking relationships with the global and regional banking sector in a way that achieves the integrity of the Iraqi banking sector and full compliance with international standards and their requirements, according to a document issued by the bank and 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 as quickly as possible, and some are important and support the banks’ efforts 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.