rafidainscope - The Central Bank of Iraq obligated banks and electronic payment service provider companies issuing cards to adopt the US dollar exchange rate of 1520 Iraqi dinars per dollar for transactions executed via electronic payment gateways and POS devices outside Iraq.
The bank confirmed that this step comes within its regulatory and supervisory role to develop the electronic payments system, enhance transparency, protect the rights of financial service beneficiaries, and encourage digital payment tools.
It stressed the necessity of determining commissions and disclosing them clearly to beneficiaries, adopting the lowest possible minimum commissions to support digital transformation.
