Central Bank: No comment on the “Western Union” money transfer service

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Central Bank: No comment on the “Western Union” money transfer service

On Thursday, the Central Bank of Iraq denied suspending the “Western Union” international financial transfer service until further notice, stating that this practice is not currently in place.

Zain Iraq has announced its commitment to comply with the directives issued by the Central Bank of Iraq, which entails the suspension of the Western Union service starting from December 10, 2023. This suspension is only temporary and is aimed at implementing modern mechanisms and technologies that adhere to the best practices and global instructions of the Central Bank of Iraq. The new mechanisms will provide enhanced verification of financial transactions, thereby ensuring their authenticity and security.

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