Central Bank suspends licensing of electronic payment companies

Thursday, November 8,


Alsumaria News / Baghdad
The Central Bank of Iraq, on Thursday, to stop granting licenses to electronic payment companies, indicating that the suspension will be for one year.

The bank said in a statement received by Alsumaria News, a copy of it, "based on the decision of the Board of Directors of this bank in its session numbered 1575, which complex on the date of Al-Raya of November 2018 stop granting licenses to electronic payment companies."
"The suspension of licensing will be for one year until December 31, 2019."


The Central Bank of Iraq was established as an independent bank under its law of 6 March 2004 as an independent body responsible for maintaining price stability and implementing monetary policy. It supervises 10 commercial banks, 26 private banks and 16 Islamic banks, as well as 19 foreign banks. 6 financial institutions and 31 financial transfer companies.


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