Government Advisor: Electronic Transformation Contributed To Lowering The Dollar Exchange Rate.
📌 Iraq’s Digital Shift Lowers Dollar Demand – Highlights 🇮🇶💳📉
🗞️ Source: Iraqi News Agency (INA) – July 30, 2025
🧠 Speaker: PM's Financial Advisor, Mazhar Mohammed Saleh
💵📉 Dollar Decline Linked to Digital Payment Expansion
Electronic transformation has helped reduce:
Speculation in currency markets 💱
Unreal demand for the U.S. dollar 💵
Cash dollar trading outside official systems 🔒
Result: Parallel market exchange rate of the dollar has dropped 📉
💳📲 Digital Finance Tools Making a Difference
Bank cards & digital platforms now dominate local and international payments 🏧🌍
Customs declarations & trade finance are now pre-verified & digitized 📑🔐
Lower need for physical cash = higher transparency & control 👁️💡
🌍🛡️ Global Compliance & Credit Boost
Iraq making strong progress with FATF & MENAFATF compliance ✅
This has helped:
Maintain stable credit ratings 📊
Improve ties with global banks 🏦🌐
🏛️📈 Government's Digital Agenda
Saleh outlined 3 major digital transformation paths:
Public Finance & Economic Governance 🏛️
Automating taxes & customs 💼
Digitizing gov contracts 🖥️
Targeted support for eligible citizens 🎯
Transparency & Anti-Corruption 🕵️♂️🔍
Every transaction has a digital fingerprint 🧬
Innovation & Digital Entrepreneurship 🚀
Boost to e-commerce, apps, AI, solar, edtech ☀️🤖📚
Support for startups and vocational training platforms 💡📱
📡🧠 Toward a Knowledge Economy
National data centers being built 🏢
Use of AI for planning 🤖🗂️
Improved internet infrastructure for digital equity 🌐⚖️
Support for STEM & tech education 🎓💻
🌟💼 Final Impact
These changes aim to:
✅ Create sustainable jobs
✅ Reduce costs
✅ Boost productivity
✅ Prepare Iraq for a competitive digital future 🚀🇮🇶