Ali Al-Alaq, the Governor of the Central Bank of Iraq, announced today, Wednesday, details regarding electronic payments across Iraq. He highlighted that financial inclusion has increased to more than 40% and confirmed that the bank has achieved international integration by connecting Iraq’s electronic payment system to global networks.
In his speech during the 9th Annual Finance and Banking Services Exhibition and Conference in Iraq, attended by an Iraqi News Agency (INA) correspondent, Al-Alaq stated:
“There is a comprehensive roadmap for digitizing banking services through electronic payments as a key tool for digital transformation, with 63,000 payment devices distributed across Iraq’s provinces.”
He added, “The number of ATMs has exceeded 4,000, while the number of banking cards has reached approximately 17 million.”
He continued, “The Central Bank has supported the licensing and operation of mobile wallets, which allow for top-ups, transfers, and bill payments, increasing financial inclusion to over 40% compared to 20% three years ago.”
He pointed out that “the number of permanent mobile wallets has reached 1.2 million, and we have achieved international integration by linking Iraq’s electronic payment system to global payment networks, enabling the acceptance of foreign cards locally and expanding the acceptance of Iraqi cards internationally.”
He further explained, “The achievements in information technology and electronic payments at the Central Bank mark a fundamental shift in the financial system.”
