The Central Bank reduces the costs of using electronic payment cards abroad.
The Central Bank reduces the costs of using electronic payment cards abroad.
2026-11-08
Shafaq News – Baghdad
The Central Bank of Iraq directed on Sunday that the costs of using electronic payment cards outside the country be reduced.
The bank said in a statement received by Shafaq News Agency that “banks and electronic payment service providers issuing cards must adopt the exchange rate of the US dollar, which is (1520) Iraqi dinars per US dollar.”
He added, “This applies to transactions carried out through electronic payment gateways and point-of-sale devices abroad, with the need to specify the commissions resulting from these transactions and disclose them clearly and transparently to the end beneficiary, while adopting the minimum commissions in a way that contributes to supporting electronic payment operations.”
He continued, “In this context, banks and electronic payment service providers have expressed their full readiness to comply with these directives and cooperate in their implementation, in support of the Central Bank of Iraq’s initiatives aimed at enhancing confidence in the electronic payments system, expanding its user base, and encouraging the shift towards digital payment methods.”
shafaq.com
