At approximately 3:35 a.m. on August 30, 2025, the Central Bank of Iraq (CBI) announced a new set of controls to regulate the nation’s electronic payment system. Previously, many had used this system opening accounts, receiving cards, even sending money abroad. These newly imposed measures aim to enhance security and stability, reinforcing the broader monetary reform underway.
CBI Governor Ali Mohsen Al-Allaq recently highlighted Iraq’s commitment to digital transformation. Major initiatives include an instant payments platform, a unified government payment gateway, a national card scheme, and ongoing efforts toward a future digital currency to reduce reliance on cash and strengthen financial resilience.
In parallel, the CBI has curtailed the supply of physical dinars issued currency totalled 98.4 trillion dinars in Q2 2025, down from 102.3 trillion in the same period of 2024 supporting inflation reduction and price stability.
These developments signal a deliberate shift: moving away from informal, cash-dependent models toward a digitally governed system. With electronic wallets exceeding 1.2 million users and more than 17 million bank cards active, Iraq is laying the groundwork for fiscal transparency, anti-fraud safeguards, and the long-awaited revival of the dinar’s relevance.
For broader context, see our ongoing coverage of Iraqi Dinar Updates.
You can also review the latest Dinar Guru Opinions for speculation surrounding revaluation.
And for wider background on politics and oil contracts, follow our Iraq News Section.
