A statement on urging the banking sector to use modern financial technologies in banking transactions

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The Central Bank of Iraq calls on all citizens to deal with banks and licensed financial intermediation companies, during large cash exchanges, instead of saving cash in homes.

The central bank seeks, through this, to preserve the money supply of citizens, avoid cases of theft and fraud, and promote counterfeit currencies.

 

The bank stresses the need to reduce trade exchange in paper currencies, in which medical studies have proven to be an effective vector for viruses and bacteria, especially as the country is going through a crisis of the spread of Coronavirus.

The Central Bank adopts the mechanisms of spreading financial inclusion in Iraq, which enhances the banking culture and the shift to monetary exchange through banking in all its advanced civilized forms.

The Central Bank of Iraq
Media Office

18/8/2020