Within days, MasterCard services are expected to be suspended in Iraqi banks.
Within days, MasterCard services are expected to be suspended in Iraqi banks.
2025-04-23 01:14
Shafaq News/ A financial expert and former official at the Central Bank of Iraq revealed on Wednesday that MasterCard cards will cease to be used by some banks at the end of April.
Mahmoud Dagher told Shafaq News Agency, “MasterCards from the sanctioned banks will no longer be used outside the country,” noting that “use of these cards from the sanctioned banks has been extended until the end of the month.”
Dagher added, “MasterCard cards of the sanctioned banks will only work in dinars domestically.”
According to experts, Mastercard has decided to suspend transactions with some Iraqi companies and banks due to restrictions on dollar transactions, posing a major challenge to the Iraqi financial system.
Several banks operating in Iraq have been subject to US sanctions regarding dollar transfers outside the country, while the rise in the dollar exchange rate against the dinar has been attributed to some traders withdrawing funds from the black market.
shafaq.com
