Posted by forex at 8:39 AM
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1. Research Iraqi banks that are specifically authorized to do business in Iraq, including trade.
2. Contact each bank by email. In the email, request information about how to trade dinars as well as other national currencies. Not all banks will trade. Contact the Rafidian Bank located in Baghdad. The email address is 'user3001@rafidian-bank.org.' Contact the Rasheed Bank also located in Baghdad. The email address is 'natbank@uruklink.net.' Contact the Industrial Bank located in Baghdad. The email address is 'bank2004@maktoob.com.' Bank names, locations and contact information can change frequently so it is important to verify the validity of these sources before making the actual trade.
3. Open an account with an Iraqi public bank. To open an account online, you will need an image copy of your passport or driver's license/state ID for the online consent form. You will need to copy, paste and print out the form.
4. Ask about acceptable methods of payment. The more options that are available, the more legitimate the institution is likely to be. Credit card payments offer more protection against fraud. Be wary of banks that only accept international wires.
5. Make the trade. After you understand the fees involved, set up the trade by transferring funds into your chosen bank.