The Central Bank of Iraq has announced that it will adopt the electronic payments of funds (Visa Cards) to limit the phenomena of carrying and dealing with cash.
According to a statement, released by the bank, "The CBI adopted the Visa card system to develop the financial and banking sector and to create an atmosphere of competition among the different banking and financial establishments in Iraq."
The statement added "The new system will organize the work of the providers of the service and issuing licenses for them according to the law No. (4326) of 22 June 2014."
Updated 14 Jul 2014 | Soruce: AIN | By S.Seal