The central bank does the payments system


Economie| 01:23 – 09/22/2021

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Baghdad – Mawazine News

The Governor of the Central Bank of Iraq, Mustafa Ghaleb, stressed, on Wednesday, that we need to combine the state’s measures to ease and reduce by launching a clear strategy and starting with goods that have an advantage such as agricultural products, noting that it is not hidden from everyone that the central bank plays an important role in achieving balance. Macroeconomic conditions that have passed since 2019 until now.
Makheif said in his speech during the annual conference of the financial and banking services exhibition, that “it is not hidden from everyone that the central bank plays an important role in achieving macroeconomic balance in light of the conditions that have passed since 2019 until now through various monetary policy tools, we have faced challenges The most important of which are the decline in oil prices and domestic production, the high budget deficit of the state and the high volume of the internal public debt.
He added, “To stimulate economic activity and reduce unemployment, the bank launched an initiative with an amount of more than 5 trillion dinars, in addition to the previous initiative that was launched in 2015 to stimulate the various industrial and agricultural sectors, services and housing in a balanced manner with reduced interest rates and sometimes without interest, as in the housing sector by achieving an economic renaissance.” .
And the Governor of the Central Bank said, “We need to combine the state’s measures by reducing and launching a clear strategy and starting with goods that have an advantage, such as agricultural products.”
And he indicated, “The Central Bank has deducted treasury transfers 2020 and 2021 to finance the dues of the Ministry of Finance, despite the increase in debt and the negative impact, but it is a historical necessity to find a solution to the financial crisis that the country went through and to cross to safety.”
He stressed, “The Central Bank of Iraq is working with the Ministry of Finance on reforming government banks, as well as activating payment systems by activating financial inclusion and access to services to all citizens, as the number of accounts doubled from 3 million in 2019 to 6 million in the year 2020, and also increased.” The number of electronic cards ranged from 10 million to 12 million.
He noted that “
With regard to the issue of digital transformation, the governor of the Central Bank stressed, “The bank is working on developing technical infrastructure and cybersecurity, automating services, and setting and opening electronic wallets.” Ended 29/A43

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