Economy News – Baghdad
The Governor of the Central Bank of Iraq, Ali Al-Alaq, confirmed that there is a wide transformational program towards digitization and the use of electronic payment tools.
Al-Alaq said in an interview followed by “Economy News”, “There is a wide program that has been transformed towards digitization and the use of electronic payment tools to enhance this large program, which we are witnessing today by developments reflected in the real figures for the use of electronic payment tools, whether in the public sector or in the private sector.”
Al-Alaq added: “We now provide the extensive infrastructure to enable all the tools and products of financial services, to take their part,” usually “playing a very important role in our national economy and also in investing the existing energies, whether material or human.”
The governor of the Central Bank of Iraq pointed out that “there is integration in the roles between electronic payment companies, banks and the Central Bank in a continuous way in order to proceed with this large project.”
“We will reflect the scale of the evolution in numbers in the past period and how the growth has become significant with these tools,” he stressed.
In June 2023, the Central Bank of Iraq announced the entry into force of the Iraqi Council of Ministers Resolution No. (23044) for the year 2023, which is to increase the number of electronic payment devices in government institutions and the private sector to enhance the culture of payment and electronic collection, and reduce the use of paper money in collection and commercial transactions.
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Added 2024/08/10 – 9:59 AM
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