💰🇮🇶 IRAQ'S DIGITAL FINANCIAL TRANSFORMATION GAINS MOMENTUM
Iraq's Deputy Minister of Finance, Ali Karim, met with a World Bank delegation led by Michel Rogge, Regional Director for Digital Transformation and Artificial Intelligence, to advance key financial modernization initiatives.
Key topics discussed:
✅ Digitalization of the Ministry of Finance
✅ Automation of tax collection systems
✅ Automation of customs operations
✅ Enhanced cybersecurity measures
✅ Expansion of the IFMIS (Government Financial Management Information System)
✅ Integration of Artificial Intelligence and emerging technologies into public administration
The World Bank reaffirmed its commitment to providing technical and advisory support as Iraq continues its financial reform agenda.
Why Does This Matter?
Iraq is building the same financial infrastructure used by modern economies to improve:
📊 Tax collection
🚢 Customs revenue management
💵 Government spending oversight
🔍 Financial transparency
🛡️ Anti-corruption efforts
📈 Real-time tracking of state resources
These efforts complement other major reforms already underway, including ASYCUDA customs automation, banking modernization, electronic payments, financial inclusion, and the digital transformation of the Central Bank of Iraq.
Analysis
What we are witnessing is Iraq's transition from a cash-based, manually operated economy to a digital, transparent, and auditable financial system.
The automation of taxes and customs could help Iraq recover billions of dollars historically lost to corruption, smuggling, and inefficiencies. Meanwhile, the expansion of IFMIS will allow the government to track revenues and expenditures in real time—an essential component of any serious monetary reform.
My Opinion
This is another important piece of the puzzle. While Iraq accelerates the completion of its government, the Ministry of Finance and the World Bank are building the digital infrastructure required for a modern economy.
In my view, this step was necessary before any green light could be given to a future revaluation of the Iraqi dinar. Iraq first needed the transparency, controls, automation, and financial oversight required to support a stronger monetary framework.
With ASYCUDA, IFMIS, customs automation, banking reforms, and digital transformation moving forward, the foundation is being built. The train has already left the station—we are moving down the track toward the RV. Iraq is demonstrating its ability to operate as a sovereign, financially accountable nation capable of attracting investment, increasing non-oil revenues, and supporting long-term dinar stability. 🇮🇶🚂💰📈
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The Undersecretary of the Ministry of Finance discusses with the World Bank the priorities of digital transformation and automation of financial operations.
On Thursday, the Undersecretary of the Ministry of Finance, Ali Karim, discussed with a World Bank delegation the priorities of digital transformation and automation of financial work, and mechanisms for developing financial systems in Iraq.
The Ministry of Finance stated in a statement received by “Dijlah News” that “the Undersecretary of the Ministry held an extensive meeting with the World Bank delegation headed by the Regional Director for Digital Transformation and Artificial Intelligence, Michel Rogge, in the presence of a number of Directors General and senior staff in the Ministry.”
The statement added that “the meeting discussed paths of technical cooperation in the areas of digital transformation and automation of financial work, particularly the automation of the tax and customs systems, strengthening cybersecurity, and the organized expansion of the Government Financial Management Information System (IFMIS) project, which contributes to raising performance efficiency and improving the quality of data and services.”
The Undersecretary of the Ministry of Finance affirmed that “digital transformation represents an integrated reform path to support public finance management, simplify procedures, and enhance transparency and governance,” stressing the importance of “implementing projects according to clear priorities and applicable phased plans that are consistent with the requirements of financial reform and the reality of Iraqi institutions.”
For its part, the World Bank delegation affirmed its readiness to continue providing technical and advisory support to the Ministry of Finance in the areas of digital transformation, artificial intelligence and the development of financial systems, in order to contribute to achieving the goals of institutional and financial reform. link