Central Bank of Iraq Sets Dollar Exchange Rate for Electronic Cards
The Central Bank of Iraq has issued new regulatory directives for dollar exchange rates on international electronic card transactions to stabilize the currency market.
The Central Bank of Iraq has officially set a specific exchange rate for the US dollar regarding financial transactions conducted via electronic cards outside the country.
This decision is part of a broader framework aimed at regulating electronic payment operations and controlling the volatility of foreign currency rates.
The bank has issued new instructions to all banks and payment service providers, outlining updated regulations concerning commission fees for dollar-denominated transfers.
These measures are intended to strengthen oversight of foreign financial transfers and ensure the stability of monetary transactions.
The new directives reflect the bank's ongoing efforts to enhance financial supervision and maintain stability within the domestic banking sector.