Parliamentary Finance reveals the possibility of successful “digital transformation” in government banks , 20 NOV

Parliamentary Finance reveals the possibility of successful “digital transformation” in government banks 
 
Economy |11-16-2023, 18:13 |
Baghdad Today - Baghdad
 
Today, Thursday (November 16, 2023), the Parliamentary Finance Committee revealed the possibility of government banks succeeding in automating the banking system and switching from the paper to the digital system.
 
Committee member Mustafa Al-Karaawi told “Baghdad Today” that 
 
“there is a noticeable development in government banks through the automation of the banking system and the shift from the paper to the digital system. 
 
There is a great reliance on development in this matter, especially in completing some transactions electronically, especially related to advances.” And others."  Al-Karaawi stated that
 
 “the economic and financial ground for government banks is prepared for this transformation, especially with the great development in global financial systems, and 
 
Iraq is part of this world and keeps pace with all developments, and 
 this transformation has important economic benefits, especially since the development of the banking and financial sector in Iraq is important for investment.” Especially foreigners, 
 
it also contributes to reducing red tape and some cases of corruption and extortion.”
 
A government meeting was held the day before yesterday, Tuesday, according to the Prime Minister’s Office, “to discuss the implementation of the comprehensive banking system, through the use of advanced electronic programs and modern technology in all banking transactions, 
 
and to discuss the development plan presented by the international company (Ernst & Young) regarding the restructuring of Rafidain Bank.” In order  to ensure the development of its business and the provision of a package of integrated banking services to citizens and companies, on a par with international banks, and 
 
in this regard, the Prime Minister directed bank departments to seek international expertise by contracting with consultants specialized in banking and financial work.”
 
Prime Minister Muhammad Shiaa Al-Sudani directed the directors of all government banks to prepare a plan to be submitted within one month, to develop the work of banks, including the optimal use of financial, human and technical resources, moving from paper work to codified work, electronic dealing with all banking activities, 
expanding electronic payment services, and developing a comprehensive vision. “For banks to grant credit facilities and loans, and develop work mechanisms, including control and oversight tools.” 
 
https://baghdadtoday.news/235717-المالية-النيابية-تكشف-إمكانية-نجاح-التحول-الرقمي-في-المصارف-الحكومية.html