Central Bank Governor Chairs First Meeting of Iraq’s National Payments Council
Baghdad Economy News
The governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, chaired on Saturday, the first meeting of the Iraqi National Payments Council after its restructuring.
“During the meeting, which was attended by officials from the Central Bank and representatives of the relevant ministries, the government and private banking sector, electronic payment service providers and other actors, the objectives of the Council and the main tasks it intends to implement to achieve national strategies to develop the infrastructure of the financial and banking sector, advance the components of the electronic payment environment and strengthen the pillars of financial inclusion in Iraq,” the Central Bank said in a statement received by “Economy News.
The Council discussed, according to the statement, “the experiences of other countries in the field of payment systems and the mechanisms necessary to implement the decisions of the Iraqi Council of Ministers Nos. 23044 and 23620 of 2023, as well as the proposals that would contribute to the implementation of these decisions with the aim of expanding the scope of work of Iraqi electronic payment systems and linking them with various institutions, ministries and bodies and encouraging the public to use them and benefit from the advantages they provide.”
It is noteworthy that the Iraqi National Payments Council aims to coordinate and achieve cooperation between regulatory and supervisory authorities, executive bodies and financial institutions.
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