The Central Bank of Iraq has granted I-Cash a final license to operate as an issuer, processor and acquirer for domestic mobile wallet services, in line with the national electronic payment scheme project. The company must launch services within 180 days of receiving the license. I-Cash must provide a bank guarantee equal to 15% of its capital, renewed every two years, and confirmation of payment of an IQD 10 million licensing fee. Ali Hassan Murad received preliminary approval to serve as managing director, with final approval subject to passing an interview with the bank’s central interview committee. The company must also appoint an authorized auditor included on the accounting and auditing profession council’s 2026 list and provide certified documentation for its premises.
Central Bank of Iraq grants I-Cash final license for domestic mobile wallet services
The Central Bank of Iraq has issued I-Cash a final license covering issuance, processing and acquiring for domestic mobile wallet services, with operations required to begin within 180 days. Requirements include a bank guarantee equal to 15% of capital, renewed every two years, and an IQD 10 million licensing fee.