The Iraqi Private Banks League, in cooperation with the Central Bank of Iraq (CBI) and the General Customs Authority, organized a seminar on procedures under the advance payment system for customs duties and taxes, in accordance with Council of Ministers Resolution No. 413 of 2026 and CBI Letter No. 367, dated September 23, 2026.

The seminar aimed to clarify the system's operational procedures, which allow traders to pay customs duties and taxes in advance, before funds are transferred to beneficiaries through the banking system, helping streamline procedures and ensure consistent implementation.

The seminar brought together representatives of private banks operating in Iraq, the CBI, the General Customs Authority, and the Automated System for Customs Data (ASYCUDA) in Iraq. Speakers from the customs authority and the automation system provided detailed explanations of the procedures and their implementation, while addressing inquiries from bank employees responsible for processing traders' financial transfers. The discussions focused on clarifying the requirements and steps to be followed when executing these transactions.

The seminar also addressed the technical and procedural aspects of the system, aiming to strengthen coordination between banks and relevant authorities and support the clear and consistent implementation of the new mechanism.