CBI Streamlines Foreign Transfer Procedures and Waives Deposit Time Requirement - البنك المركزي التحويلات الخارجية نظام RTGS الاعتمادات المستندية Central Bank of Iraq Foreign Transfers
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CBI Streamlines Foreign Transfer Procedures and Waives Deposit Time Requirement

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Rafidain Scope Team
18 Oct 2026
1 min read
Home Eco CBI Streamlines Foreign Transfer Procedures and Waives Deposit Time Requirement

rafidainscope - The Central Bank of Iraq issued new instructions to licensed banking institutions aimed at accelerating cross-border transfer procedures and bolstering correspondent bank account balances overseas.

Directives issued by the Investment Department exempted banks from the minimum holding period under the Real-Time Gross Settlement (RTGS) system. This regulatory adjustment facilitates the swift release of letters of credit and international SWIFT transactions to support trade finance and commercial activities.

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Rafidain Scope Team