- Time: 2024/02/18 13:50:47
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{Economic: Al-Furat News} The Central Bank of Iraq revealed, on Sunday, the mechanism for granting a license to electronic payment companies, stressing the continued acceptance of license applications.
According to documents issued by its media center and received by {Al-Furat News}, the bank specified that “the applicant has a natural or moral person, at least three years of experience in the field of electronic payment and the payment industry, including the founders and participants,” noting that “the application includes a detailed explanation of the added value of 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 need to submit 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 criteria for accepting applications for a license to work as an electronic payment service provider, as well as what was stated in the electronic payment services system.”
“Applications that do not meet the conditions of the aforementioned license are rejected,” the bank said.
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