News

Iraq gets first credit cards; ATM network on the way

May 24, 2005

Los Angeles Times: The Trade Bank of Iraq on May 24 issued the country's first credit and debit cards, from Visa International Inc., at a ceremony in Baghdad.

Visa cards were given to cabinet ministers, government officials and financial professionals, bank officials said. The bank said it expects to issue 30,000 Visa cards in Iraq by the end of the year. It also plans to install the country's first network of ATMs, which would enable cardholders to withdraw Iraqi dinars or U.S. dollars from their accounts.