World Bank: Iraq’s electronic payment systems infrastructure among the best in the region

[RJG]

World Bank: Iraq’s electronic payment systems infrastructure among the best in the region

money and business

   

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Economy News – Baghdad

The Governor of the Central Bank, Ali Mohsen Al-Alaq, discussed today, Wednesday, with a delegation from the World Bank headed by the Director of the World Bank Office in Iraq, Richard Abdel Nour, reform programs for the stability of the financial sector in Iraq, while the latter praised the measures to facilitate financial transfers.

The Central Bank’s media said, in a statement received by “Economy News”, that “Al-Alaq received a delegation from the World Bank headed by the Director of the World Bank Office in Iraq Richard Abdel Nour, and during the meeting, they discussed strengthening bilateral cooperation between the Central Bank of Iraq and the World Bank and discussed electronic payment projects, financial inclusion, as well as reform programs to promote the stability and development of the financial sector.”

The two parties also discussed “the support of the World Bank to provide advice in the establishment of the Riyada Bank, which is dedicated to financing small projects in Iraq with the support of the International Finance Corporation.”

In turn, the World Bank delegation praised “the procedures of the Central Bank of Iraq in facilitating financial transfers to various segments in Iraq,” noting that “the infrastructure of electronic payment systems and software systems in Iraq are among the best systems in the region.”

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Added 2024/02/07 – 1:57 PM

https://economy-news.net/content.php?id=40237

[NWGUY]

It is great that Iraq is getting their electronic banking in order.  I think that is a key to revaluing their currency.  Iraqi's will be less inclined to pay with cash, but the banks will have to instill trust in their system to make it happen.   Once there is less cash around Iraq, the more comfortable the CBI will be to revalue their currency.  We wait!   

 

 

[RJG]

The Governor of the Central Bank of Iraq receives a delegation from the World Bank

 Banknotes  

 February 07, 2024

 

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His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, received a delegation from the World Bank headed by the Director of the World Bank’s office in Iraq, Mr. Richard Abdel Nour.
During the meeting, they discussed enhancing bilateral cooperation between the Central Bank of Iraq and the World Bank and discussing electronic payment projects and financial inclusion, as well as reform programs to enhance the stability and development of the financial sector.
The two parties also discussed the support of the World Bank to provide advice in establishing the Riyada Bank dedicated to financing small projects in Iraq, with the support of the International Finance Corporation.
In turn, the World Bank delegation praised the procedures of the Central Bank of Iraq in facilitating financial transfers to different segments in Iraq, noting that the infrastructure of electronic payment systems and software systems in Iraq are among the best systems in the region.

 

Central Bank of Iraq
Information Office

7 - February - 2024

https://cbi.iq/news/view/2511

[Officiallytook]

Like this news here...connects

[NWGUY]

27 minutes ago, Officiallytook said:

Like this news here...connects

 

 

That is a good article...Thanks!