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Iraq's Central Bank announces new cash withdrawal system
ERBIL, June 23 (AKnews) - Iraq's Central Bank (ICB) has announced the start of a national distributor system in the country, which will allow card holders to withdraw money from any bank in the country without depending only on the bank that provided the bank card.
ICB deputy governor Muzhir Mohammed said the bank is at the beginning of the process of setting up the system with the help of the US Agency for International Development.
Mohammed added: "The new system means a partnership between all of the Iraqi banks, which is part of creating the infrastructure of the Iraqi system of payments."
The number of banks in Iraq exceeds 50 and includes more than 800 branches across the country's provinces, which is still a small number compared with the population.
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ERBIL, June 23 (AKnews) - Iraq's Central Bank (ICB) has announced the start of a national distributor system in the country, which will allow card holders to withdraw money from any bank in the country without depending only on the bank that provided the bank card.
ICB deputy governor Muzhir Mohammed said the bank is at the beginning of the process of setting up the system with the help of the US Agency for International Development.
Mohammed added: "The new system means a partnership between all of the Iraqi banks, which is part of creating the infrastructure of the Iraqi system of payments."
The number of banks in Iraq exceeds 50 and includes more than 800 branches across the country's provinces, which is still a small number compared with the population.
[You must be registered and logged in to see this link.]
