KTFA
FRANK26: "22 MILLION CARDS & MORE".....F26
Localization of private sector salaries, rapid payment, and collection... Al-Sudani issues banking decisions.
7/7/2025
- Baghdad
An Iraqi government source revealed on Monday that the number of bank accounts has reached approximately 20 million, compared to 8 million in 2022, a growth of more than 150%.
The source confirmed, in a press statement received by Shafaq News Agency, that "the digital transformation rate of Iraqi ministries and institutions has increased to approximately 32%, after it was less than 18% in 2022, with a growth rate of 78%."
He pointed out that "the number of bank cards increased to 21-22 million cards (of all types, including credit, debit, and prepaid), up from 16 million cards in 2022, representing a growth rate of 38%." He also noted that the number of point-of-sale devices reached approximately 62,000 devices, up from less than 10,000 devices in 2022, representing a growth rate of up to 520%.
According to a government source, data indicates that the financial inclusion rate in Iraq has reached approximately 40%, up from less than 10% in 2019.
The source noted that the Prime Minister had recently issued a number of future decisions related to a number of important projects in the field of electronic payment, and stressed the need to complete them as soon as possible. These projects include:
- Activation of the local card, which is expected to be completed by the end of 2025.
- Activate the fast payment project.
- Activating the unified electronic collection application.
- Localizing private sector salaries in line with the government sector.
- Establishing a unified center for complaints related to electronic payment transactions, headquartered at the National Data Center.
The source expected these projects to be completed in less than a year, stressing that their implementation would contribute to Iraq's advancement to a new level among advanced countries in this field.