Iraq lacks modern technology in banking

Baghdad (newsletter) … Banking expert Majid agreed with mock international reports classified Iraq by late in the use of modern technology in banking transactions, stressing that the country still lacks the simplest techniques used by global banks.

International reports Iraq has classified in later stages by using technology in banking transactions.

Mock said (News Agency news) Tuesday: the Iraqi banking sector needs to develop its work through the use of modern techniques and systems in his work, in addition to linking private banks with Government and Central Bank consolidated and comprehensive communication network to facilitate banking transactions in the country.

He added that Iraq lacks the use of modern technology in banking, calling for civil and governmental banks urged to use global banking systems and traditional classical systems dull in banking transactions.

The banking system in Iraq consists of forty-three banks as well as the Central Bank and distributed by ownership between Government banks (7) and (30) Al Ahli Bank including (7) in addition to Islamic banks (6) foreign banks.