External Transfer for Individual Traders to Include Baghdad and other Governorates
The external transfer requirements for individual traders: –
- Opening a current account in accordance with valid conditions and regulations of Trade Bank of Iraq “TBI”.
- The external transfer shall not exceed the determined limit of $100,000 (one hundred thousand dollars only) per month.
- Provide a proforma invoicewith validity date not exceeding (6) months as of the date of placing order on the platform.
- The customer shall, within (30) days for neighboring and regional countries and (60) days for other countries, submit to the bank an evidence that the materials have entered Iraq, in addition to an undertaking proving that that he/she does not own a company nor is a shareholder in any. In the event that customer does not comply with providing such requirements within the period specified above, he/she shall not be allowed to conduct such transfer and all legal action shall be taken against such customer accordingly.
- Provide the bank with (Manifest (containing the required information proving the entry of the materials to Iraq.
- The above requirements will be handled by the Bank’s branches operating in Baghdad and other governorates.