Central Bank: We Look Forward To Making All Financial Transactions Electronic

Iraq news

On January 22, 2023

Independent / – Deputy Governor of the Central Bank of Iraq Ammar Hamad Khalaf stressed that “the Central Bank has the capabilities that enable it to transfer financial transactions to electronic, as we have the infrastructure that help achieve the goals accurately and rise to global performance.”

Khalaf said, “The trend towards electronic payment is one of the most important strategies of the Central Bank, which began since the localization of salaries, which created a new culture of dealing with which the citizen interacted and began to reduce the uses of cash and the trend towards electronic dealing, albeit in a phased manner.”

He pointed out that facilitating the procedures for granting licenses to collect bank cards using points of sale (pos) represents a return to the right path, as it reduces costs for the citizen, and gives the Central Bank an opportunity to control transactions, and this is a civilized issue and an important transition that will make the citizen interact more than now with electronic payment services.

He stressed that “the pricing of the sale to the private sector in dinars will stabilize exchange rates, as transactions will be carried out in Iraqi dinars, which reduces the need or demand for the dollar in local markets.”

For her part, the specialist in the economic matter, dr. Hamila Abdul Sattar Kurdi on the importance of keeping pace with the evolving global effort, which is witnessing continuous developments, through the development of products that harmonize with the international labor market.

Kurdi pointed out that the banking system is in a race to provide the best services to customers of all companies and citizens, where advanced services must be provided that keep pace with developments and commensurate with the requirements of the advanced international effort that aspires to enter the local labor market.

She praised the directions of the Central Bank aimed at expanding the area of electronic payment within the country, and paying attention to financial inclusion to include a larger area that is what is plung up to it.

البنك المركزي: نتطلع الى جعل جميع التعاملات المالية الكترونية

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