National Bank of Iraq Finalizes Move to SWIFT MX (ISO 20022)

The National Bank of Iraq has officially completed its
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transition to the global SWIFT MX standard — a major milestone in the country’s digital banking transformation.
SWIFT MX (ISO 20022) is now the world’s most advanced financial messaging system, allowing richer data, faster processing, and greater transparency in global payments.
In its announcement, the bank confirmed that the upgrade was completed with minimal downtime, reflecting strong technical preparation, teamwork, and close coordination with regulators and technology partners.

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Key leaders from the National Bank of Iraq emphasized that this shift:
✔️ Modernizes Iraq’s payments infrastructure
✔️ Enhances security and transaction transparency
✔️ Aligns Iraq with global banking standards
✔️ Improves customer experience for individuals and companies
✔️ Strengthens Iraq’s role in the regional financial system

The successful transition signals Iraq’s growing commitment to digital finance, global integration, and modern economic governance.
As more banks and institutions adopt the MX/ISO 20022 framework, Iraq’s financial sector continues to move closer to international best practices — a crucial step in building investor confidence and enabling smoother, more reliable cross-border transactions.
🎙️ Source: National Bank of Iraq Statement
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