Government Advisor: Electronic Transformation Contributed To Lowering The Dollar Exchange Rate.
๐ Iraq’s Digital Shift Lowers Dollar Demand – Highlights ๐ฎ๐ถ๐ณ๐
๐️ Source: Iraqi News Agency (INA) – July 30, 2025
๐ง Speaker: PM's Financial Advisor, Mazhar Mohammed Saleh
๐ต๐ Dollar Decline Linked to Digital Payment Expansion
Electronic transformation has helped reduce:
Speculation in currency markets ๐ฑ
Unreal demand for the U.S. dollar ๐ต
Cash dollar trading outside official systems ๐
Result: Parallel market exchange rate of the dollar has dropped ๐
๐ณ๐ฒ Digital Finance Tools Making a Difference
Bank cards & digital platforms now dominate local and international payments ๐ง๐
Customs declarations & trade finance are now pre-verified & digitized ๐๐
Lower need for physical cash = higher transparency & control ๐️๐ก
๐๐ก️ Global Compliance & Credit Boost
Iraq making strong progress with FATF & MENAFATF compliance ✅
This has helped:
Maintain stable credit ratings ๐
Improve ties with global banks ๐ฆ๐
๐️๐ Government's Digital Agenda
Saleh outlined 3 major digital transformation paths:
Public Finance & Economic Governance ๐️
Automating taxes & customs ๐ผ
Digitizing gov contracts ๐ฅ️
Targeted support for eligible citizens ๐ฏ
Transparency & Anti-Corruption ๐ต️♂️๐
Every transaction has a digital fingerprint ๐งฌ
Innovation & Digital Entrepreneurship ๐
Boost to e-commerce, apps, AI, solar, edtech ☀️๐ค๐
Support for startups and vocational training platforms ๐ก๐ฑ
๐ก๐ง Toward a Knowledge Economy
National data centers being built ๐ข
Use of AI for planning ๐ค๐️
Improved internet infrastructure for digital equity ๐⚖️
Support for STEM & tech education ๐๐ป
๐๐ผ Final Impact
These changes aim to:
✅ Create sustainable jobs
✅ Reduce costs
✅ Boost productivity
✅ Prepare Iraq for a competitive digital future ๐๐ฎ๐ถ