CBI enables direct financial transfers between debit cards

Shafaq News / The Central Bank of Iraq announced on Wednesday introducing the option of direct transfer of funds between debit cards.

In a statement received by Shafaq News Agency, the bank said, "To implement its strategy of shifting towards electronic payment, the Central Bank of Iraq confirms the adoption of direct financial transfers between debit cards (from one card to another)".

The statement added, "provided that the one-time transfer ceiling does not exceed 400,000 dinars or its equivalent in US dollars, while the limits of the amounts transferred in one month can reach a maximum of Two million dinars or its equivalent in US dollars".