Iraq announces great strides in digital transformation
Economy News – Baghdad
The Ministry of Finance announced on Tuesday that it had made great strides in digital transformation and electronic payment, while pointing to progress in the field of automating customs procedures to ensure financial sustainability and diversification of the economy.
The representative of the Minister of Finance / Undersecretary of the Ministry, Ribaz Mohammed Hamdan, said in a speech during the fourth annual international scientific conference, entitled (Digital Financial Services – Challenges of Reality and Future Foresight), that “our conference today comes within the government efforts in the implementation of the government program, as digital financial services have witnessed a rapid development in recent years and modern technology has contributed to accelerating the financial process.”
He added that “the ministry has made great strides in the digital transformation, including money transfers, electronic payment, online loans and mobile banking services, which has increased the efficiency of accelerating financial transactions and reducing the need for cash transactions and providing services to people who do not have access to traditional banking services, noting that “innovation and development in this field have been promoted and ways of cooperation between the relevant authorities in the field of financial technology and discussed and reviewed the most prominent solutions related to cyber security and future risks in this sector and how to take precaution for those risks.”
He added that “the ministry has advanced in the field of automating customs procedures to ensure financial sustainability and the diversity of the economy in accordance with the principle of integrity, transparency and anti-corruption, and the implementation of programs in the Financial and Accounting Training Center to train employees on the use of new digital systems with the aim of enhancing digital skills in the ministry, improving financial performance and enhancing confidence in the financial system.”
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