Economy News – Baghdad
The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, chaired the first preparatory meeting for the establishment of a national company to manage central electronic payment systems in Iraq.
“The meeting discussed the importance of organizing electronic payments, keeping pace with accelerating technological developments and a competitive payments industry that provides secure, reliable, accessible and interoperable payment services at scale, rapid response and high flexibility of technical and regulatory variables,” the Central Bank’s media office said in a statement received by “Economy News.”
The meeting reviewed, “The basic objectives of the company and the requirements for the initiation of the establishment as it will take over the tasks of managing, operating and developing some centralized and basic electronic payment systems at the national level.”
The statement pointed out that “this step came in line with the strategic plan of this bank, which goes hand in hand with the government program in the field of electronic payment and its development in Iraq.”
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Added 2024/08/14 – 3:10 PM
https://economy-news.net/content.php?id=46300
ANALYSIS
The Central Bank of Iraq is moving forward with plans to establish a national company dedicated to managing electronic payment systems. Chaired by the Central Bank Governor, Ali Mohsen Al-Alaq, the inaugural preparatory meeting emphasized the need for a robust and modern electronic payments infrastructure.
The new company aims to oversee, operate, and enhance centralized electronic payment systems across the country. This initiative aligns with both the Central Bank's strategic goals and the broader government agenda for advancing electronic payments in Iraq.
The focus will be on creating a secure, efficient, and adaptable payment ecosystem to meet evolving technological and regulatory demands.
For more details, you can view the full article here.
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