Money Transfer

Money Transfer

Starting from the pioneering role of Al Qurtas Islamic Bank in providing electronic services, the bank performs an external cash transfer using the global SWIFT system, which enables customers and non-customers to have the ability to transfer cash to different countries of the world through the simplest procedures where the SWIFT service enables cash transfer through the customer Going to any branch of the Islamic Qurtas Bank, to fill in the transfer request explaining the reason for the transfer and the country to be transferred to and according to the mechanism of the Central Bank of Iraq after the bank verifies all the documents submitted by the customer (individual or company) and obtain the approvals The private interior for the purpose of accepting the transfer and determining its path through correspondent and sober banks and transferring them to any country in the world as soon as possible after deduction of the commission set for the bank.
When transferring any transfer through the SWIFT system of the Islamic Qurtas Bank, please ensure that the following are held:
  1. Your account number with the Islamic Qurtas Bank.
  2. The beneficiary’s full name, postal address and account number.
Beneficiary bank information:
  1. International bank account number (IBAN) or account number.
  2. Sorting code / Swift / Bank ID of the bank or intermediary bank.
  3. Purpose of payment.
  4. The name of the bank receiving the transfer.
Documentary credits are used to finance foreign trade, and they currently represent a framework that enjoys general acceptance because it preserves the interests of all parties from exporters and importers, as they are:
  • Concerning the source: a guarantee that he will seize the value of the goods that he contracted to export, as soon as the documents for the shipment of the goods are presented to the bank that he had notified of the arrival of the credit.
  • Concerning the importer: A guarantee that the opening bank of the credit will not pay the value of the goods contracted to be imported until after submitting the documents for shipping the goods according to the conditions stated in the documentary credit opened with it.
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