In today's globalized financial landscape, international money transfers have become indispensable for both individuals and corporations. When sending funds to Baghdad, one crucial piece of information stands out: the correct SWIFT code for seamless transactions.
The Central Bank of Iraq's SWIFT/BIC code is CBIRIQBAXXX . This alphanumeric identifier serves as the linchpin for secure and efficient international transfers, ensuring your payment reaches its intended destination without delays or misrouting.
The code breaks down as follows: CBIRIQBA represents the bank's primary identifier, while the trailing XXX typically denotes a specific branch. To complete a transfer to Baghdad, senders must provide these key details:
- Bank Name: Central Bank of Iraq
- City: Baghdad
- Address: Rasheed Street, Baghdad, Baghdad
- Country: Iraq
Transfer costs and exchange rate fluctuations remain critical considerations for senders. For instance, a $10,000 remittance might convert to approximately €8,451, with the final amount subject to real-time rates and intermediary bank fees. Payment methods also impact overall costs—direct debit transactions often prove more economical by streamlining processing steps.
Understanding SWIFT codes and transfer protocols isn't merely convenient—it's fundamental for anyone conducting cross-border transactions. This knowledge safeguards both the security of transferred funds and the optimization of financial resources in an increasingly interconnected banking ecosystem.