Government source: Starting to implement the banking arrangements agreement with Türkiye




A government source reported today, Tuesday, that the implementation of the banking arrangements agreement with Turkey began last Sunday.


The source told Al-Furat News Agency, “The Central Bank has reinforced tens of millions of euros as an initial payment to cover retailers’ imports from Turkey.”


He added, “This came through Iraqi merchants paying in Iraqi dinars and the Central Bank strengthening them in euros.”


He pointed out that “after that, settlement will be made with Turkish merchants in Turkish lira.”


On the second of this month, the Central Bank of Iraq announced the agreement to make arrangements between Iraqi banks and their Turkish counterparts through intermediary banks.

He pointed out that “the agreement stipulated the organization of trade exchange for small merchants and retailers (dinar against euro or Turkish lira) according to arrangements with remittances.”


It is grouped according to a commercial organization that guarantees the integrated cycle of the commercial process (deposit in dinars inside Iraq, payment in euros or lira in Turkey to ship goods from Turkey to Iraq).”   LINK




Clare:  Zain Cash relaunches the “Western Union” service


12/4/2023  Baghdad


Zain Cash announced, on Monday, the resumption of the Western Union service after making some amendments to it.


The company said in a statement received by Al-Eqtisad News, “In light of the rapid development in the world of financial transfers and a renewal of the company’s commitment to providing safe and reliable services to its customers, Zain Cash has relaunched the Western Union service after updating and developing it,” noting that “ The customer verification feature has been added via 3D scanning technology, which is considered one of the latest innovations in the field of digital security.”


According to the statement, the company warned “against pages that claim to activate the service in exchange for providing them with your personal account information,” stressing that “the Western Union service will be activated for all customers gradually and will not require the customer to provide us with any information or documents.”   LINK