TNT:
Tishwash: Asiabi launches Mastercard card program and connects its customers in Iraq to payments around the world
Asiabee offers virtual Mastercard, Platinum and World cards directly linked to the Asiabee wallet, enabling secure local and international payments through a single integrated digital experience.
AsiaBee today announced the launch of its own Mastercard card program, a move that expands the payment options available to its customers in Iraq Asiabi’s wallet is linked to Mastercard’s verified global network.
The new cards are issued under a license from Mastercard International Incorporated and with the approval ofCentral Bank of IraqIt is directly linked to the Asiabee wallet and is fully managed through the Asiabee app, giving customers a simple and secure way to make payments locally and internationally.
AsiaBee offers three card products: the Virtual Mastercard, the Platinum Mastercard, and the World Mastercard, providing customers with options designed to meet various payment needs and lifestyles.
As part of the launch campaign, Asiabi is exempting its customers for a limited time from the usual issuance fee of 35,000 Iraqi dinars for the actual Platinum card.
AsiaBee Mastercard cards can be used for payments in stores, online, and at ATMs wherever Mastercard is accepted. The cards also support multi-currency transactions internationally, giving customers greater flexibility when shopping online, traveling, or making payments outside of Iraq.
The card allocation process is managed through Asiabee’s internal allocation center, allowing the company to maintain direct control over card security, production quality, and issuance speed.
The cards are designed to meet a wide range of everyday needs, including local purchases, international travel, online shopping, digital services, and online gaming. Customers can manage their entire card experience through the Asiabee app, from ordering and activating the card, to transferring funds between the wallet and the card, tracking transactions in real time, and managing card controls.
Zarang Farooq, Managing Director of Asiabi, said : “This day marks a significant milestone for Asiabi and our customers. Our goal is very simple: to give our customers in Iraq an easier and more secure way to connect their everyday payments to the rest of the world with the lowest fees. By linking Asiabi Wallet and Mastercard into a single experience, customers can manage their money locally and use it internationally through a platform they know and trust.”
This launch represents a new step in Asiabee’s strategy to expand access to modern digital payment services in Iraq and connect the country’s growing digital economy to the global payments infrastructure.
Asiabee is an Iraqi non-banking financial services company and digital payment solutions provider, headquartered in [location missing].SulaymaniyahOperating throughout Iraq, Asiapi was founded in 2015 and was among the first companies in Iraq to receive a license from the Central Bank of Iraq to provide digital payment services.
Today, Asiapi offers a comprehensive digital payment system that is fast, easy, and secure, serving individuals and businesses through dedicated customer and business applications. Its services include digital wallets, international money transfers via MoneyGram, bill payments, mobile top-ups, e-voucher purchases, payroll processing, and online and in-store merchant payment solutions.
Asiapi also offers Mastercard payment products, supported by its in-house card allocation center and licensed by Mastercard and the Central Bank of Iraq, providing customers with secure and convenient card payment solutions that are supported both locally and globally. link
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Tishwash: The Central Bank promotes a culture of compliance among exchange companies in southern Iraq.
The Central Bank of Iraq, through its branch in Basra, held a specialized training course to promote a culture of compliance and combat money laundering and terrorist financing, with broad and active participation from exchange companies operating in the southern governorates of Iraq.
The session addressed the outputs of the national assessment report and the results of the mutual assessment report on money laundering and terrorist financing risks in the Republic of Iraq, in addition to the responsibilities and supervisory procedures incumbent upon non-bank financial institutions, foremost among them exchange companies.
The session emphasized the importance of raising awareness of financial risks and strengthening compliance procedures, which contributes to protecting financial institutions and supporting the safety and stability of the Iraqi financial sector, especially in light of the role played by exchange companies in the movement of cash and financial transactions in the southern governorates.
The session witnessed broad interaction and participation from exchange companies, reflecting the sector’s interest in developing institutional performance, keeping pace with regulatory requirements, and understanding the implications of national and international assessment results on daily work procedures.
This step comes as part of the Central Bank of Iraq’s efforts to promote education, training and capacity building, along with supervision and regulation, with the aim of preventing risks and promoting sound practices in non-bank financial institutions.
Organizing these training programs in the Basra branch is an important step to expand awareness and compliance in the southern governorates, and to enhance direct communication between the Central Bank and the entities under its supervision, in order to support the development of the financial sector and raise the efficiency of its employees. link
Tishwash: Faisal I Dinar for 150 million… Auction of old coins has been ongoing in Baghdad since 1952
Every Saturday morning, seasoned collectors gather at the Iraqi Philatelic and Numismatic Society building to attend an auction where enthusiasts display coins that have not lost their value despite 70 years having passed since their cancellation. Deals are made for rare specimens. Jawad Kazem, the society’s secretary, says that collectors prefer the money of the royal era, whether paper or metal. The price of the 100 dinar note that contains the image of Faisal I reached 150 million Iraqi dinars. One of them reveals in an interview with 964 Network that interest has reached the small denominations, until a 100 fils note issued in 1955 was sold for one million dinars.
Demand for the king’s money
“The idea behind the auction is to serve stamp and coin collectors, where different stamps and coins are displayed and exchanged,” said Jawad Kazem, secretary of the Iraqi Philatelic and Numismatic Society, in an interview with 964 Network . He explained that the auction opens every Saturday morning at the Society’s headquarters in the auction hall.
Regarding the history of the auction, Jawad says, “The auction appeared in 1952, one year after the establishment of the association, and enthusiasts quickly showed interest in conducting exchange and purchase transactions. Since then, the auction has been active, frequented by enthusiasts coming from Baghdad and the provinces.”
Jawad describes the auction as “a cultural and social meeting place for enthusiasts and collectors of stamps and coins, and it has also become a center for buying and selling the rarest coins.”
Regarding the rarest coins on display, Jawad explains that “the royal paper currency is the rarest, followed by the metal currency. The association has displayed rare items for coin collectors and they have been sold.”
100 dinars is equivalent to 150 million.
Ahmed Kamel, a member of the association’s administrative board, speaks of a huge difference in the prices of the royal currency compared to the republic, due to the short lifespan of the royal era, which arouses the curiosity of enthusiasts and drives them to acquire and learn about it.
Kamel says about prices that the price of “the 100 Royal Dinar note, which includes a picture of Faisal I, starts from 150 million dinars and above, and the prices of some currencies increase if they were issued on important dates, such as the currency of Faisal II that was issued in 1949, or such as the quarter dinar note that was also issued by the Central Bank of Iraq during the reign of Faisal II.”
Regarding methods of detecting forgery, Kamel says, “There are several points that can be relied upon to uncover the tricks of forgers, such as checking the watermark and the type of paper, and I believe it is difficult to forge.”
100 fils equals one million dinars
Abu Ramzi speaks at length about the prices of small denominations, especially coins, and says, “A coin of the 100 fils denomination was sold for 200,000 dinars, while the same denomination, but issued in 1955, was sold for about one million Iraqi dinars.” link
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Tishwash: Small banknote shortage causes daily disruption in Kirkuk markets
Merchants and residents in Kirkuk, northern Iraq, are increasingly struggling to obtain 250-dinar ($0.19), 500-dinar ($0.38) and 1,000-dinar ($0.76) banknotes, with traders reporting shortages of small denominations and growing difficulties using worn or damaged notes in daily transactions.
Abbas Ahmed, a shopkeeper in Kirkuk’s Doctors Street market, told Shafaq News that obtaining the three denominations has become increasingly difficult. “When customers pay with larger notes, some shops ask them to buy another item rather than give them their change.”
Some small-denomination notes reaching shops are also torn, dirty or heavily worn, making merchants and customers reluctant to accept them.
Samer Abdullah, a currency exchanger on Republic Street, noted a sharp increase in demand for small denominations, while supplies remain inconsistent.
Residents and merchants often turn to exchange shops for smaller notes, but the quantities available fluctuate. Some notes brought in for exchange are already damaged and need to be replaced rather than returned to circulation.
Small-denomination notes change hands more frequently than larger ones, making them more vulnerable to wear and tear, Abdullah explained.
Describing the shortage as a daily problem, Hamza al-Jubouri, a wholesaler in Kirkuk’s Citadel Market, told Shafaq News that small amounts of change are often needed in wholesale and retail transactions, leaving merchants with limited options when the required denominations are unavailable.
Some traders hold on to 250-dinar, 500-dinar, and 1,000-dinar notes rather than spend them, fearing they will be unable to replace them later. This further reduces the number of these notes circulating in the market.
Shafaq News’ review of currency issuance data shows that the number of 1,000-dinar notes rose from 718 million in 2022 to 775 million in 2026. The number of 250-dinar notes increased from 795 million to 818 million, while 500-dinar notes fell slightly from 147 million to 145.4 million.
Together, the three denominations accounted for about 1.738 billion notes in 2026, compared with roughly 1.660 billion in 2022, an increase of about 78.4 million notes.
The figures do not indicate how many of those notes are physically available in shops or remain in good enough condition for daily use. They reflect issuance data rather than the number of notes actually circulating or the proportion that has become damaged.
The Central Bank of Iraq (CBI) continues to list 250-dinar, 500-dinar and 1,000-dinar notes among the country’s officially circulating denominations. It has also stated that older notes remain legal tender alongside newer issues.
In an interview with Shafaq News, Economist Ali Khalil said the availability of small denominations should be measured not only by the number of notes issued but also by the number that remain fit for circulation.
Frequent handling makes small-denomination notes particularly vulnerable to damage, meaning some of the issued supply may have been removed from circulation or require replacement.
Khalil pointed out that the existence of more than one billion notes across the three denominations does not necessarily indicate a surplus in the market. “Damaged notes may no longer be usable even if they remain part of the official issuance figures.”
He called for stronger mechanisms to replace damaged notes, ensure a steady supply of new notes and monitor the movement of cash through banks, exchange shops and merchants.
The CBI has procedures for handling damaged banknotes, including criteria for their replacement depending on the type and extent of damage. An electronic service is also available through the Ur platform to submit requests for the replacement of damaged banknotes.
In 2020, the central bank reinstated penalties related to shortages of 1,000-dinar, 500-dinar, and 250-dinar notes, effective Oct. 1 of that year, under rules governing the circulation and replacement of banknotes and their counting and sorting.
Office worker Suhad Ibrahim told Shafaq News that consumers are among those most affected because they have little control over the availability of small denominations when making everyday purchases.
Customers who pay more than the price of an item sometimes do not receive their full change or are asked to buy another item to avoid losing the remaining amount.
The shortage is particularly noticeable in shops, markets and public transportation, where small cash payments are common.
Despite their low face value, 250-dinar, 500-dinar and 1,000-dinar notes remain an important part of Iraq’s cash-based economy. While official figures show an increase in the number of 250-dinar and 1,000-dinar notes since 2022 and a slight decline in 500-dinar notes, merchants in Kirkuk continue to report difficulty obtaining small denominations in usable condition. link
