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The Central Bank of Iraq increases the daily and monthly limits for prepaid cards (document)
Economy Central Bank of Iraq new instructions
2024-01-29 08:42
Shafaq News/ On Monday, the Central Bank of Iraq issued new instructions regarding prepaid cards, including raising the daily and monthly limits inside Iraq while keeping the same limits outside Iraq.
Deputy Governor of the Central Bank, Ammar Khalaf, said, according to a document obtained by Shafaq News Agency, “The controls on prepaid card limits will be as follows:
First: The limits and ceilings for prepaid cards. The maximum limit is (10) million Iraqi dinars, and the ceilings for monthly refilling of the card are (10) million Iraqi dinars. It is the responsibility of banks and electronic payment service providers to refuse any refilling operations that exceed the maximum balance limit.
Second: Local financial transactions inside Iraq. The ceiling for withdrawals via automated teller machine (ATM) machines inside Iraq is two million dinars per day, or what is determined by the entity that owns the ATM, provided that it does not exceed the total monthly card balance, and the
limits for payment operations are through electronic payment gateways. Local online shopping and purchases through point-of-sale (POS) devices are included in the card’s monthly balance. Khalaf added,
“Banks and electronic payment service providers have the freedom to set and set a financial ceiling for payment and purchase transactions made through the aforementioned channels, not to exceed the total monthly card ceiling.”
https://www.shafaq.com/ar/اقتصـاد/المركزي-العراقي-يزيد-الحدود-اليومية-والشهرية-لبطاقات-مسبقة-الدفع-وثيقة
Economy Central Bank of Iraq new instructions
2024-01-29 08:42
Shafaq News/ On Monday, the Central Bank of Iraq issued new instructions regarding prepaid cards, including raising the daily and monthly limits inside Iraq while keeping the same limits outside Iraq.
Deputy Governor of the Central Bank, Ammar Khalaf, said, according to a document obtained by Shafaq News Agency, “The controls on prepaid card limits will be as follows:
First: The limits and ceilings for prepaid cards. The maximum limit is (10) million Iraqi dinars, and the ceilings for monthly refilling of the card are (10) million Iraqi dinars. It is the responsibility of banks and electronic payment service providers to refuse any refilling operations that exceed the maximum balance limit.
Second: Local financial transactions inside Iraq. The ceiling for withdrawals via automated teller machine (ATM) machines inside Iraq is two million dinars per day, or what is determined by the entity that owns the ATM, provided that it does not exceed the total monthly card balance, and the
limits for payment operations are through electronic payment gateways. Local online shopping and purchases through point-of-sale (POS) devices are included in the card’s monthly balance. Khalaf added,
“Banks and electronic payment service providers have the freedom to set and set a financial ceiling for payment and purchase transactions made through the aforementioned channels, not to exceed the total monthly card ceiling.”
https://www.shafaq.com/ar/اقتصـاد/المركزي-العراقي-يزيد-الحدود-اليومية-والشهرية-لبطاقات-مسبقة-الدفع-وثيقة
