The Central Bank Of Iraq Reveals The Mechanism For Granting License Applications For Electronic Payment Companies
February 18, 2024 The Central Bank of Iraq revealed the mechanism for accepting and studying applications for granting licenses to electronic payment companies, confirming the continued receipt of licensing applications.
The Central Bank specified that the applicant, whether a natural or legal person, must have at least three years of experience in the field of electronic payment and the payments industry, and this includes the founders and participants, indicating that the application includes a detailed explanation of the added value to the electronic payment sector in Iraq that will be provided by the company to be licensed.
Especially in the field of modern collection techniques and enriching the Iraqi market with distinguished and applicable service.
The bank stressed the necessity of submitting a request for a detailed technical feasibility study of what the company to be licensed will provide, pointing out that the request includes the minimum standards for accepting applications for obtaining a license to operate as an electronic payment service provider, in addition to what is stated in the electronic money payment services system No. (3). For the year 2014.
The bank confirmed that it will reject all applications that do not meet the aforementioned licensing conditions.
:diamonds: To view the minimum standards for accepting applications to obtain a license to operate as an electronic payment service provider. Click here. https://cbi.iq/static/uploads/up/file-17082531764307.pdf
Central Bank of Iraq information Office 18 - February – 2024 https://cbi.iq/news/view/2515
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