Central Bank warns electronic payment companies

Central Bank warns electronic payment companies

2018/10/1 13:41

Central Bank warns electronic payment companies(Baghdad: Al-Furat News) The Central Bank of Iraq warned on Monday, electronic payment companies to carry out the sale and purchase of currencies.
The bank said in a statement that it would impose a fine on electronic payment companies if it was proved that any port or agent, major or secondary, exploits the name of the provider of the service to carry out mediation transactions to sell and buy foreign currencies and remittances outside System service provider “.
The statement added that “these companies will also have a legal responsibility borne by the company as the provider is responsible for its competitors and agents based on Article 16/1 e of the system of electronic payment services for funds No. 3 of 2014.”

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