Salary payment mechanism system reform (salary localization project)
November 13, 2022
In order to
organize electronic payment operations and in order to
support the salary localization project and
ensure the provision of the best banking services at the most appropriate prices and
not prejudice the rights of the beneficiaries of the above project,
it was decided to oblige the banks participating in the salary localization project to the following:
The validity period of the electronic payment card that will be issued for the benefit of customers benefiting from the salary localization project (3) shall be a minimum of three years.
The SMS service is optional and the spending entities are informed of the amount and time of the deduction, provided that the last beneficiary (employee/pensioner) receives the written consent to benefit from the service.
The commissions charged to all customers benefiting from the salary localization project will be as shown below:
A - Account Management Commission and salary increase commission combined with a maximum of (2,000) dinars (two thousand Iraqi dinars) per month.
B-the commission for issuing an electronic payment card (issued for the first time) with a maximum limit of (15,000) dinars (fifteen thousand Iraqi dinars).
C - the commission for reissuing the card (damaged or lost) with a maximum limit of (25,000) IQD (twenty-five thousand Iraqi dinars).
D - the commission for renewing the issuance of an electronic payment card after its expiration with a maximum limit of (15,000) dinars (fifteen thousand Iraqi dinars).
The above will be complied with and implemented as of 2023/1/1, provided that all spending entities are notified of this.