CBI: using the best internationally approved systems and standards in electronic payment’s field

INA- Baghdad

The Central Bank of Iraq CBI announced ,on Monday, the use of the best internationally approved systems and standards in the field of electronic payment, while noting that it spends hundreds of millions of dollars annually to develop infrastructure systems to build an important base for the development of electronic payment in Iraq.

The Deputy Governor of the central bank, Ammar Khalaf, said in a speech at the first Iraqi Digital Economy Forum, attended by the correspondent of the Iraqi News Agency (INA) "the digital financial transformation in Iraq started by Localization the salaries of state employees and opening bank accounts, the main purpose of which is to use electronic payment in daily transactions, whether inside or outside Iraq”.

Khalaf added that "Iraqi society prefers to adopt money in daily transactions, but the Government's efforts to support digital transformation, especially in the financial sector and in other sectors, have given a strong boost to the central bank over the past year and it continues to encourage and activate electronic payment in Iraq through the issuance of many laws, regulations and instructions that encourage the use of electronic payment in Iraq”.

He pointed out that" some ministries have responded quickly to the directives of the central bank and Iraqi Government, especially the Ministry of oil by making the collection at gas stations and others through electronic payment, as well as the Passport Directorate, which obligated that the payment be electronic, as well as the General Traffic Directorate and other ministries ",stressing that "all this support gives a very big boost to electronic payment”.

He pointed out that "the central bank has been the sole influencer for many years, as it has adopted the importance of digital transformation in most of its transactions, and annually spends hundreds of millions of dollars to develop infrastructure systems to build an important base for the development of electronic payment in Iraq through the use of the best systems and internationally approved standards in this field".