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The Central Bank and Visa International sign a memorandum of understanding
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The Central Bank of Iraq, signed a memorandum of understanding with Visa International to develop the legal and regulatory framework for its work in Iraq.
"The Central Bank of Iraq signed a memorandum of understanding with Visa International, which has granted membership to more than 16,000 financial institutions worldwide to establish the legal and regulatory framework for working in Iraq," the central bank said in a press release.
He added: "Visa will be able to contribute to the smart ambitions of the Central Bank of Iraq market and helps to build a strategic partnership with Visa, which contributes to the development of the electronic payment environment in the community in terms of technical and organizational and awareness and transfer of experience and benefit from the innovations that characterize the company" .
On the other hand, Tariq Al Husseini, General Manager of Visa North Africa and Levant, expressed the Company's interest in the strategic direction of the Central Bank of Iraq in terms of payments and electronic systems and expressed its desire to contribute to the transfer of knowledge, development and training to the cadres working in this sector through the institution For the development of business ( Visa Business School ) as well as that this bank seeks to develop the market through effective competition and will be signed similar agreements with other international companies.
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