“Central Bank supports the international mathematical figure the “IBAN” starting from 2 January 2017”
Here is what IBAN means:
“The International Bank Account Number (IBAN) is an internationally agreed system of identifying bank accounts across national borders to facilitate the communication and processing of cross border transactions with a reduced risk of transcription errors.”
Therefore, this is a major step in preparing to go international with the dinar.
By accepting the IBAN system they are saying that the rest of the world can access Iraqi bank account information if necessary.
This is a huge opening and will prepare the way for entry into Article VIII and international trading of the dinar, in my view.