THE GOVERNMENT IS ACCELERATING DIGITAL TRANSFORMATION. HISTORIC GROWTH IN ELECTRONIC PAYMENTS AND FINANCIAL INCLUSION IN IRAQ.
A government source revealed, on Monday (July 7, 2025), the steps taken by the Iraqi government in the field of developing and promoting electronic payments, noting that since the Iraqi government assumed its duties more than two and a half years ago, the importance of a strong and effective banking system has become clear to it, as developing electronic payments and increasing financial inclusion in the country are considered among its most prominent features.
The source added, speaking to Baghdad Today, that “the government and the prime minister considered this goal a top priority, as it is a key objective in the strategies of countries around the world, given its close connection to economic stability and growth.”
He continued, “The Iraqi government has taken a series of decisions and measures through the Council of Ministers and the Ministerial Council for the Economy, in addition to the committees emanating from them, which include representatives from the government, the Central Bank, and the private sector, to monitor this aspect.” He noted that “these committees include: the Electronic Payment Performance Monitoring Committee, the Electronic Payment and Financial Inclusion Stimulation Committee, the Digital Transformation Committee, and the Digital Transformation and Electronic Payment Process Evaluation Committee in Iraqi Ministries and Government Institutions.”
The source explained that “Prime Minister Mohammed Shia al-Sudani had previously issued a set of decisions and directives based on reports from these committees, which led to significant progress on several indicators in this area during 2025. The digital transformation rate of Iraqi ministries and institutions rose to approximately 32%, up from less than 18% in 2022, representing a growth rate of 78%.”
He added, “The number of bank accounts reached approximately 20 million, compared to 8 million accounts in 2022, a growth exceeding 150%. The number of bank cards also 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 pointed out that “the number of point-of-sale (POS) devices reached approximately 62,000, up from less than 10,000 in 2022, a growth rate of 520%. The number of ATMs also reached approximately 7,531, up from approximately 2,223 in 2022, a growth rate of 239%.”
He pointed out that “total electronic payments reached approximately 1.37 trillion dinars in May 2025, compared to less than 90 billion at the end of 2022, with a growth rate of up to 1,400%. Data indicates that the financial inclusion rate in Iraq has reached approximately 40%, after being less than 10% in 2019.”
The source confirmed that “the Prime Minister recently issued a number of future decisions related to a number of important projects in the field of electronic payments, stressing the need to complete them as soon as possible.”
He explained that “these projects include: activating the local card, expected to be completed by the end of 2025, activating the rapid payment project, activating the unified electronic collection application, localizing private sector salaries in line with the government sector, and establishing a unified center for complaints related to electronic payment transactions, headquartered at the National Data Center.”
The source expected that “these projects will be completed in less than a year, stressing that their implementation will contribute to moving Iraq to a new level among the advanced countries in this field.”