By John Lee. Prime Minister Mohammed Shiaa Al-Sudani has led a meeting to discuss and monitor progress on the implementation of the Unified Treasury Account. The meeting also focused on the continued rollout of electronic payment points (POS) and explored potential incentives for citizens to encourage electronic payments. During the meeting, comprehensive updates were presented […]
By John Lee. Iraq's first digital bank, First Iraqi Bank, has announced the launch of Visa Direct for the first time in the Iraqi market, in partnership with Visa. According to a press release, Visa Direct is a real-time point-to-point payment service that will enable Iraqi consumers to enjoy real time transfers for the first […]
By John Lee. The Iraqi Cabinet has agreed to draft a a law to regulate electronic payments in Iraq. The Legal Department of the General Secretariat of the Council of Ministers will work together with the Central Bank of Iraq (CBI), the Federal Board of Supreme Audit, and the Economic Adviser to the Prime Minister […]
By John Lee. Prime Minister Mr. Mohammed S. Al-Sudani received a delegation from the international electronic payment company Visa Inc., led by the company's Regional President for Central and Eastern Europe, Middle East and Africa, Andrew Torre. During the meeting, His Excellency expressed the government's determination to implement reform and move forward with plans for […]
By Winthrop Rodgers, for Rest of World. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Why cash is still king in Iraq After decades of war, displacement, and sanctions, Iraq remains cut off from the global financial system. Click here to read the […]
By John Lee. Ishtar Gate Company for E-Payment Systems and Services, an Iraq-based fintech company, has reportedly released an app that allows users to trade US-listed stocks via a mobile app called Bluepay. According to Newsfile, the company was recently approved by the Central Bank in Iraq (CBI) as the "first and only company to […]
By John Lee. A new paper from Kapita and Euphrates Ventures says that Iraq suffers from a lack of many services due to financial payment issues. "A few options are available in the market, yet those services are not up to international standards and are mostly only functional within Iraq," it says. Among the difficulties […]
The President and Chairman of the Trade Bank of Iraq (TBI) has said that he expects it will be "a number of years" before payment processing services such as Paypal and Stripe will be able to operate in Iraq. Responding to a question from Iraq Business News (IBN) at the Iraq Britain Business Council (IBBC)'s […]
By Robert Tollast Recently, a friend at Fikra Space, the pioneering Iraqi hackerspace group, emailed me some news that could have far reaching effects in Iraq. On the face of it, it probably seems like a fairly mundane development. Ideal Payments, the electronic payment providers, have partnered with Belgium based Monniz and Iraq's Taif Money […]
