Iraq’s Central Bank Governor Announces Major Progress in Digital Banking and E-Payment Systems
2024-09-26 12:00:08 - From: CHANNEL8
The Governor of the Central Bank of Iraq, Ali Al-Alaq, has announced the success of Iraq’s digital transformation and e-payment system, enabling citizens to conduct banking transactions via their mobile phones. “Electronic payments in Iraq have seen significant growth, rising from 20 percent to 48.5 percent over the past two years,” Al-Alaq said, highlighting the progress made in modernizing the financial sector. The governor emphasized that this shift to digital transactions will streamline services for citizens while reducing opportunities for fraud and corruption. Al-Alaq also revealed that the Central Bank has received numerous requests to establish digital banking services, reflecting