"ELECTRONIC PAYMENT SYSTEM REACHES OUT TO THE INTERNATIONAL WORLD!!!"....F26 BY FRANK26, 19 OCT

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FRANK26: "ELECTRONIC PAYMENT SYSTEM REACHES OUT TO THE INTERNATIONAL WORLD!!!"....F26

Al-Alaq: The Central Bank has taken steps to promote the use of electronic payment

10/14/2024

 

Baghdad
 

The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, confirmed today, Monday, that the Central Bank has taken steps to enhance the use of electronic payment.

The bank's media office stated in a statement received by "Al-Eqtisad News" that "Al-Alaq received the Ambassador of the Federal Republic of Germany to Iraq, Christiane Homann, and during the meeting, they discussed banking relations, enhancing the financial inclusion plan in Iraq, and the importance of digital transformation, in addition to providing full support to Al-Riyada Bank for financing small projects,  which will launch its services soon."

He added, "During the meeting, the plan to reform the government and private banking sector was reviewed, with direct support from the Prime Minister, to achieve a stable, secure and efficient sector." 

Al-Alaq stressed, according to the statement, that "there is a great desire among citizens to use electronic cards, which enhances electronic payment in Iraq, as the Central Bank of Iraq has taken many steps in this direction in coordination with the relevant authorities."

He explained that "Riyada Bank will provide its services to an important segment of customers, as it aims to provide support to emerging small and medium enterprises, as it will be a bank different from other banks through its unconventional products that will contribute to creating job opportunities for various social groups in society, and open new horizons in a stable investment environment," noting that "there will be representative offices in most Iraqi banks to facilitate customers' access to it and benefit from its services."

For her part, the German Ambassador expressed her country's "readiness to provide advice and technical support for such important projects that support the common goal of diversifying the Iraqi economy." 

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