IraqPay empowers the Central Bank of Iraq, the government, and Tier-1 financial institutions with direct domestic settlement privileges. Bypass correspondent friction, eliminate FX exposure, and formalize shadow economies into compliant, bank-to-bank ecosystems.
Iraq's monetary ecosystem is constrained by structural mismatches between official exchange rates and the parallel market. This regulatory arbitrage forces critical SME trade and diaspora remittances into informal hawala networks, resulting in capital flight and a loss of sovereign visibility.
IraqPay is the dedicated Iraqi subsidiary of the United Kingdom-based Digital Local Currency (DLC) program. We provide an agile Infrastructure-as-a-Service (IaaS) framework that allows Iraqi institutions to access foreign domestic retail payment infrastructures directly, bypassing traditional correspondent friction.
The IraqPay platform orchestrates reciprocal infrastructure sharing, granting demand partners streamlined API access to a complete, localized financial ecosystem without the need for foreign licenses.
Execute digital, local-to-local remittances that completely bypass physical cash bureaus and informal networks. We route the last leg of disbursement natively through local partners.
Provision legally compliant onshore bank accounts and digital wallets within the destination country. This acts as a "Remote Home for a Foreign Account."
Create a closed-loop liquidity bridge. Collect local currency natively via merchants, and repurpose those exact liquidity pools to fund outbound citizen consumption (students, tourists).
By mapping the IQD ecosystem into Inbound Liquidity and Outbound Capital Flight, IraqPay targets the exact points of 'liquidity friction'. We absorb informal flows back into the regulated banking sector, creating a massive closed-loop financial ecosystem.
Total: 13.8 Trillion IQD
Driven primarily by Diaspora remittances and religious tourism bypassing the formal banking sector.
Total: 74.4 Trillion IQD
Driven by unrecorded SME trade imports, foreign worker remittances, and student mobility outflows.
"IraqPay transforms the banking sector into a closed-loop liquidity engine. We balance macroeconomic inflows against outflows within the secure ledger of the formal sector, returning sovereign control to the Central Bank."
The IraqPay model acts as a "Digital Aqueduct," absorbing non-regulated, cash-based capital flight back into the formal banking sector. By transforming cash hand-offs into digital ledgers, we restore sovereign control over monetary velocity.
Brings unregulated foreign exchange transactions into the formal banking sector, stabilizing trade deficits.
By routing transactions through domestic regulated rails, governments regain visibility, directly capturing VAT and taxes previously lost.
By integrating directly with localized ecosystems, we replace physical cash flows with secure, trackable digital ledgers. This respects cultural transaction norms while instantly upgrading security and sovereign compliance.
Deploy a full retail stack and secure direct domestic settlement within weeks, not years. Connect with the IraqPay institutional integration team today.
Schedule a Due Diligence Briefing
