This may be used when making payments within the country and can be issued in Iraqi Dinar to a specific payee. This will help you to avoid carrying large amounts in cash.
Demand Draft (DD)
We issue this very secure form of payment method which is a written order to our local/overseas correspondent in your required currency to a specific payee. The DD charge is higher than the charges for other international payments method. As the DD can be reimbursed if stolen or lost when not cashed and can be repurchased when not needed, the benefits outweigh the costs.
Telegraphic Transfer (TT)
We facilitate international payment for you through this method when you give the amount, the required currency and beneficiary details. This service is for non customer as well for existing and new customers.
Society for Worldwide Inter-Bank Financial Telecommunication (SWIFT) payment
This form of payment is a wire transfer and is a type of electronic fund transfer which uses a Bank Identifier Code (BIC) or SWIFT code. Our SWIFT code is ELAFIQBA where the first four letters are the Bank code, the next two are ISO assigned country code which is IQ for Iraq and the next two is location code which is BA for Baghdad. Your money's journey can be known and the veracity of the transaction is ensured. We usually charge a small fee for this wire transfer in major foreign currencies depending on the location where you need to remit the funds