Iraq’s electronic payment outlets end strike after CBI clarifies “No Closure Plans”

Shafaq News/ On Monday, the Iraq Electronic Payment Outlets Association ended its strike after meetings with Central Bank of Iraq (CBI) officials clarified no official decision to shut down the outlets.

Mohammed Abdul-Wahab, head of the association in Kirkuk, told Shafaq News Agency, "A delegation from the association met with senior CBI officials in Baghdad to address the governor's remarks on closing electronic payment outlets. They confirmed no new procedures on the matter."

The delegation reportedly presented its demands, and a two-week deadline was set for the CBI to issue a final decision on regulating electronic outlets. "If there's no response, we will resume a full general strike," he warned.

Abdul-Wahab further highlighted that the 240 electronic payment outlets in Kirkuk, licensed since 2010, support cash flow, distribute salaries to employees, retirees, and welfare beneficiaries. “The outlets are a key part of Iraq's financial transition, helping to reduce pressure on state banks and accelerate financial transactions,” he explained.

What Happened?

On Friday, electronic payment outlets announced they would shut down starting Monday in protest against statements by Central Bank Governor Ali Al-Alaq, who claimed their commissions were “unauthorized” and proposed transferring operations to currency exchange companies.

The CBI, however, denied issuing any directive or statement about closing payment outlets or converting them into exchange companies. It urged caution in spreading news about their closure and stressed its goal to expand cash delivery outlets through various means, including ATMs, POC cash payment devices, licensed exchange companies, and POS electronic payment devices across Iraq.