Central Bank of Iraq announces details of electronic payment
Central Bank of Iraq announces details of electronic payment
2025-02-26
The Governor of the Central Bank of Iraq, Ali Al-Alaq, announced today, Wednesday, the details of electronic payment throughout Iraq, and while he pointed out that the financial inclusion rate has increased to more than 40%, he confirmed that the bank has achieved international integration by linking the Iraqi electronic payment system to global networks, as Al-Alaq stated in a speech during the ninth annual exhibition and conference for finance and banking services in Iraq, that “there is a complete roadmap for digitizing banking services through electronic payment as it is a major tool for digital transformation, as the number of devices has reached 63 thousand devices in the governorates of Iraq.”
He added, “The number of electronic teller machines has reached more than 4,000 machines and the number of bank cards is about 17 million cards.”
He added, “The Central Bank supported the licensing and operation of electronic wallets via mobile phones that allow charging, transferring and paying bills, which raised the financial inclusion rate to more than 40% compared to 20% three years ago.”
He also noted that “the number of permanent wallets has reached 1.2 million wallets, and we have achieved international integration by linking the Iraqi electronic payment system to global payment networks, which allows the transformation of accepting foreign cards locally and expanding the acceptance of Iraqi cards internationally.”
While he explained that “the achievements made in the field of information technology and electronic payments at the Central Bank represent a fundamental shift in the financial system.”
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