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Showing results for tags 'reality of digitization and electronic transactions'.
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Minister of Finance: We are heading towards establishing an integrated digital bank Saturday May 08, 2021 118 Baghdad: Hussein Thahab The Iraqi Digital Transformation Summit focused on moving towards electronic transactions and automation and the role of governance in sustainable development that the country seeks, as the summit and local and international institutions participating in it focused on the imperative of cooperation between the central government and the banking sector, in order to move towards a new, more sophisticated phase in dealing. And the delivery of benefit to all segments of society. The conference, organized by Frontier Exchange, with wide global and local participation, shed light on the available opportunities and challenges, in order to advance the reality of digitization and electronic transactions in Iraq. Minister of Finance Ali Allawi stated that «the transition of Iraq to the digital age is one of the most important priorities of the government», pointing out that «the transfer of the national economy to the digital age requires skills and a great effort on the part of the government and the private sector, in order to achieve this qualitative leap, which is based on strengthening Digital infrastructure, and this requires investments in the telecommunications sector and digital work, to lift the Iraqi economy from focusing on narrow sectors to a wider stage. Allawi revealed that «the Ministry of Finance directed to convert a small government bank into a fully digital bank, in addition to adopting important projects in government banks to start diversifying digital capabilities. As for a member of the British House of Lords, Baroness Emma Nicholson, she described this summit as a mission at a time when the world is heading to expand in the field of digital economy, which is an important transition in the management of global economies, stressing "the necessity of benefiting from this experience." Product development For his part, Central Bank Governor Mustafa Ghaleb said: “The development of modern financial channels and means of communication via the Internet contributed to the development of the products provided by the financial and banking sector and their ease of access to individual and institutional beneficiaries.” Ghalib pointed out that “owning a digital financial system is a fundamental pillar in building an advanced financial sector that supports sustainable development trends,” indicating that “Iraq has the necessary infrastructure to develop digital services by launching initiatives that encourage the banking system to deploy ATM machines and use applications. Digital, as well as implementing projects that contribute to the application of electronic governance. He pointed out, "Signing a memorandum of understanding with Master Card to implement the project to digitize education in Iraq, and that it is in the stage of orientation towards developing these services in cooperation with international organizations." Chairman of the Board of Directors of the Development Bank, Dr. Ziad Khalaf said: “Humanity is now living in the fourth industrial revolution, which is the digital revolution, which is an objective maturity and an extension of the third industrial revolution, which is the informatics revolution that we have witnessed at the end of the last century. He continued, "Iraq adopted the" DOM 2025 "vision in 2018, and developed a strategy related to it to build the information and communication technology sector, which includes a number of basic goals and objectives consistent with the goals of the World Summit on the Information Society, aiming to open investment horizons, the most prominent of which is investment in the communications and information technology sector. He added that «the central bank launched the« digital enrollment service », which is the first of its kind in Iraq, which is an integrated digital financial system that enhances financial independence and freedom from traditional financial systems, as it works to transform Iraq into a country less dependent on cash, which enables the state to bypass bureaucracy. In financial dealings within banks operating in Iraq ». In turn, the representative of the company organizing the conference, Ahmad Al-Jader, explained that “Iraq's need for such international conferences is a necessity in light of the widespread demand to adopt advanced technologies that contribute to shortening time and effort in order to reach the stages of sustainable development,” indicating that “the shift towards transactions Digital and governance are greatly undermining corruption. ”
