Central Bank: Committed to building a more inclusive and fair digital financial system
Economy News – Baghdad
The Central Bank of Iraq stressed on Wednesday the importance of the role of the media in supporting financial inclusion and spreading financial culture, while pointing to its commitment to building a more inclusive and just digital financial system.
The assistant head of the financial affairs department at the bank, Virgin Taha Mohammed, said in a speech during the ninth (third international) scientific conference of the College of Media at the Iraqi University, under the slogan: “Artificial intelligence in the media: prospects for innovation and challenges of cultural dialogue”, that “this conference reflects the bank’s vision to promote financial inclusion and implement government directives towards the use of electronic means of payment, and the role of the media in spreading financial culture.”
She added that “financial inclusion has become one of the pillars of economic and social development, it not only means the access of individuals to banking services, but also includes enabling them to make smart financial decisions that contribute to improving their lives and supporting the stability of society as a whole,” stressing that “the vital role of the media is not limited to awareness, but extends to building a well-established financial culture that enhances trust between the citizen and financial institutions.”
She explained that “the government’s orientation towards promoting the use of electronic payment methods has become an urgent necessity imposed by the developments of the times, which requires all parties, whether they are academics, journalists or institutions, to join join to guide society.”
She stressed that “media colleges play a pivotal role in preparing media cadres capable of delivering financial messages in innovative and highly credible ways, to bring economic concepts closer to all segments of society, especially marginalized groups or those that were outside the traditional financial system.”
She stressed that “the Central Bank of Iraq is committed to active participation in building a more inclusive and fair digital financial system, and opens the doors of cooperation with universities, researchers and all concerned authorities to achieve this goal, through: organizing workshops and seminars within universities to introduce students to the concepts of electronic payment and their importance, and providing technical and knowledge support for university research that deals with digital transformation and digital finance, while encouraging financial innovation among students by urging the financial sector to provide financial products and services customized to the student segment, and provide easy digital solutions, as well as involving students in awareness campaigns as active contributors to spreading a responsible financial culture in society.”
She concluded by saying: “This integration between the Central Bank and universities not only aims to increase the use of electronic payment tools, but also aims to create a conscious generation financially and technically, and is capable of leading the national economy towards further progress and modernity,” stressing that “investing in financial awareness within universities is an investment in the future of Iraq, which is the best way to achieve real and sustainable digital financial inclusion.”