Home
Issuing electronic cards to small merchants with a ceiling of $100,000 per month
January 23 13:15
Information/Baghdad..
Today, Tuesday, a government source revealed the issuance of electronic cards to small merchants, while specifying their conditions.
The source said in a statement to the official agency, followed by “Al-Ma’louma”:
“Based on the directives of the Prime Minister and in light of the discussions that took place between the government, the Central Bank of Iraq and electronic payment companies for more than two months,
a mechanism for issuing electronic cards to small merchants was approved, with a ceiling of 100 thousand dollars.”“.” He added, Monthly to implement payment operations for import purposes in order to reduce the demand for cash dollars by real merchants
"The new mechanism includes:
1- Payment companies submit a request to the Central Bank to obtain approval to create this product and launch the (merchant) card.
2- Determine the uses of the cards to be for small merchants in line with the external transfer controls issued by the Central Bank for the year 2023, provided that
The ceiling of these cards shall not exceed (100) thousand dollars per month, with the possibility of raising the ceiling in the future in light of the results of the actual application.
3- The cards are used for the purposes of purchasing goods and services from known suppliers according to pre-determined white lists.
4- The company bears its duty to apply diligence Due and in accordance with basic requirements, the most important of which are the main international embargo lists of the United Nations, the Office of Foreign Assets Control and the European Union.
5- Small merchants’ funds are deposited in the branches of various Iraqi banks in Iraqi dinars.
https://almaalomah.me/news/54112/economy/إصدار-بطاقات-إلكترونية-لصغار-التجار-بسقف-100-الف-دولار-شهريا
January 23 13:15
Information/Baghdad..
Today, Tuesday, a government source revealed the issuance of electronic cards to small merchants, while specifying their conditions.
The source said in a statement to the official agency, followed by “Al-Ma’louma”:
“Based on the directives of the Prime Minister and in light of the discussions that took place between the government, the Central Bank of Iraq and electronic payment companies for more than two months,
a mechanism for issuing electronic cards to small merchants was approved, with a ceiling of 100 thousand dollars.”“.” He added, Monthly to implement payment operations for import purposes in order to reduce the demand for cash dollars by real merchants
"The new mechanism includes:
1- Payment companies submit a request to the Central Bank to obtain approval to create this product and launch the (merchant) card.
2- Determine the uses of the cards to be for small merchants in line with the external transfer controls issued by the Central Bank for the year 2023, provided that
The ceiling of these cards shall not exceed (100) thousand dollars per month, with the possibility of raising the ceiling in the future in light of the results of the actual application.
3- The cards are used for the purposes of purchasing goods and services from known suppliers according to pre-determined white lists.
4- The company bears its duty to apply diligence Due and in accordance with basic requirements, the most important of which are the main international embargo lists of the United Nations, the Office of Foreign Assets Control and the European Union.
5- Small merchants’ funds are deposited in the branches of various Iraqi banks in Iraqi dinars.
https://almaalomah.me/news/54112/economy/إصدار-بطاقات-إلكترونية-لصغار-التجار-بسقف-100-الف-دولار-شهريا
