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BRAKING NEWS: Iraq's First Digital Bank IS Now Online

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The first digital bank in Iraq, First Iraqi Bank, is launching Visa Direct in partnership with Visa, the world's leading digital payment provider. Iraqi consumers will be able to enjoy real-time transfers for the first time thanks to Visa Direct, a real-time point-to-point payment service.

The Visa Direct service will allow Iraqi consumers to transfer money in real-time for the first time in history.

The Visa Direct payment service uses the recipient's 16-digit Visa card number to send real-time payments directly to his or her eligible Visa debit card or credit card. Founder of First Iraqi Bank, Mr. Kawa Junaid, said, "We are proud to offer this cutting-edge service to our Iraqi customers, and we believe it will improve responsible financial access in the Iraqi market."

Founder of First Iraqi Bank, Kawa Junaid, said, "We are proud to offer this cutting-edge service to our customers in Iraq.

Iraq's greater integration into global markets is supported by First Iraqi Bank's best-in-class financial and technological innovations combined with Visa's unparalleled global infrastructure.

FIB takes great pride in its state-of-the-art AML/CFT systems, operations, and personnel. We are devoted to upholding superior standards of compliance when it comes to such activities as well as sanctions enforcement. To make the most of our resources, we have incorporated these measures into all matters related to our work - especially in terms of advanced solutions like real-time transaction monitoring, digital identity validation and address pairing, and transaction and deposit limits," Mr. Junaid declared.

Mario Makary, Levant Cluster Manager at Visa, stated: "We are thrilled to introduce a cutting-edge international money transfer service in Iraq. This partnership with First Iraqi Bank will enable their customers to securely move and access funds through more than three billion cards around the world. With this collaboration, we hope to provide FIB customers with an improved and secure digital banking experience."

Among the benefits of Visa Direct fund transfers are speed of settlement, the convenience of banking from your phone, the Visa Direct global system's security and trustworthiness, the Visa Direct system's global availability, and lower costs for everyday transfers between people.

This post first appeared on Iraqi Dinar US Rates News, please read the originial post: here

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BRAKING NEWS: Iraq's First Digital Bank IS Now Online


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