CBI’S guidelines for licensing digital banks in Iraq

In the context of diversifying services amidst the technological advancements witnessed in the digital banking sector, and in order to align with the global trend towards digital transformation and its impact on the banking environment in Iraq, the Central Bank of Iraq issued, on the date of (31/3/2024), guidelines for licensing digital banks in Iraq according to its decision numbered (67) for the year 2024. These guidelines lay the foundation for the licensing mechanism, specify the requirements imposed on digital banks, and also include application forms, greatly contributing to meeting the needs of customers seeking fast and easy banking services. Attached is a copy of the Central Bank of Iraq’s document on the guidelines for licensing digital banks in Iraq in both Arabic and English languages.

Our firm is working on preparing a comprehensive study of the mentioned regulations and preparing it to be available for those interested in accessing it in both Arabic and English languages in the coming days. For further inquiries and to obtain a copy of the study or the English version of the law, please contact our company at the following email address:

management@ulf-iraq.com