Baghdad-Mil
Member of the Finance Committee in the House of Representatives, Hussein Mounes, revealed today, Monday, two proposals by the committee to develop the banking sector in Iraq .
“Digitizing the banking system in Iraq is part of the government program voted on in the House of Representatives, so it is a necessity that must be adopted. We see that there is a major transformation and it is an opportunity to ensure the principle of transparency, limit the amounts of money and reduce banknotes. It is also a necessity that must be taken into account, given that there is a global trend in the issue of digitization and the adoption of bank transfer companies ,” Mounes said in a statement followed by “Mil”.
He pointed out that “the Financial Committee is following up on the financial digital transformation process and is in contact with the Central Bank to develop plans to resolve this issue,” indicating that “we have no choice as a country trying to launch its banking system but to proceed quickly and quickly to resolve matters .”
Mounes added, “The Finance Committee has two proposals: the first is to amend the law of private banks to ensure their participation and raise the efficiency of local banks, and we have a proposal to adopt the Federal Revenue Control Authority, and these two legislations are very important for developing the banking system in Iraq .”