Iraq's central bank temporarily suspends International transfers by Western Union

Shafaq News/ The Central Bank of Iraq (CBI) has temporarily halted the international money transfer service provided by Western Union throughout the country

This suspension, effective from today, comes to install new verification mechanisms aligning with the CBI directives, the company said in a statement.

The statement did not specify a date for the resumption of the service.

"We will inform you promptly once the service is reinstated," the statement assured.

The Central Bank has recently adopted new mechanisms to handle foreign currency transactions to adhere to the requirements set by the US Federal Reserve. This shift aims to monitor the flow of the US dollar and curb attempts to smuggle currency out of the country.