Bank Transfers

Our bank offers you domestic and international money transfer services that meet your needs, ensuring security, speed, and competitive fees.

Internal transfer between branches

This service allows you to electronically transfer money between bank accounts or through cash exchange at bank branches.

Transferring from one account to another account

Our service provides customers with the necessary flexibility to electronically transfer money between their bank accounts quickly and securely. It simplifies financial transactions and enables customers to manage their funds in a straightforward manner.

Commissions

• Inside the branch: 5 Dollars and 5.000 Dinar
• Other branches (Duhok, Sulaymaniyah, Zakho): %0.003 From the transfer amount
• Baghdad Branch: %0.01 From the transfer amount

Note: This process is immediate and does not require any waiting.

Cash transfer

This service allows you to conduct internal cash transfers between bank branches. It is particularly useful for customers who do not have a bank account, ensuring quick and reliable financial transfers between parties.

Commissions

• Within the Kurdistan Region: %0.003 From the transfer amount
• Baghdad Branche: %0.01 From the transfer amount

Money transfer requirements

• The date on which payment is made.
• The recipient's name.
• Sender's account.
• Recipient's account.

RTGS system

This service is one of the secure systems for domestic money transfers overseen by the Central Bank of Iraq. It allows transfers in both currencies (Iraqi Dinar and US Dollar). Settlement is done directly into the customer's account, using IBAN-format accounts. Therefore, it is required that both the sender and the recipient have bank accounts for the transfer to occur

ACH system

A system based on electronically collecting bonds overseen by the Central Bank of Iraq, it deals in both currencies (Iraqi Dinar and US Dollar). Settlement occurs two days after the transaction date. The full IBAN format is not used in this system however, customers must have a bank account to participate.

• The ACH system implicitly includes a method for transferring payments similar in concept to RTGS called CT, but unlike RTGS, settlements are not immediate; instead, they are processed through a daily clearing session.

External transfers (SWIFT)

It includes outgoing and incoming international transfers from a domestic bank account to a foreign bank account.

Kurdistan International Islamic Bank for Investment and Development offers a swift and secure external transfer service for individuals and businesses. This service enables swift sending and receiving of funds through a global correspondent banking network.

Western Union (Fast financial transfer)

• Kurdistan International Islamic Bank is pleased to announce that as a principal agent of Western Union in Iraq, we offer our esteemed clients a convenient, fast, and secure international money transfer service from all our branches and offices to anywhere in the world.
• With Western Union's extensive network of over 550,000 locations worldwide, you can confidently and securely transfer money to your family and friends in any country.