CBI warns against the misuse of electronic payment cards outside Iraq

Economy

20-11-2023, 10:29

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Baghdad-INA
The Central Bank of Iraq (CBI) warned on Monday against the misuse of electronic payment cards outside Iraq.
CBI media stated in a statement, received by the Iraqi News Agency (INA), "We warn against some misusing the electronic payment cards it provides to meet the needs of citizens."

According to the statement, the bank stressed “its commitment to implementing strict measures to reduce this phenomenon and protect the financial system and ward off risks from it,” indicating that” it will include the names of bank card holders whose misuse or smuggling is caught on blacklists and take legal measures against this group.”

The statement pointed out that "They will be deprived the issuance of other cards and all financial products and take all necessary action against violators based on the Anti-Money Laundering (AML) and Terrorist Financing Act No. 39 of 2015 and the instructions and controls issued thereunder."