Mazhar Saleh stresses the importance of electronic payment in the digital transformation in Iraq
Mazhar Saleh stresses the importance of electronic payment in the digital transformation in Iraq
2025/02/26
Mazhar Muhammad Salih, advisor to the Prime Minister, confirmed today, Wednesday, that electronic payment is one of the basic pillars for achieving digital transformation and enhancing financial stability in Iraq.
He added in his statement to {Al Furat News}, that “electronic payment contributes to reducing the size of the informal economy, as it still constitutes about 70% of the operations of the Iraqi market, and it also enhances transparency in financial transactions and increases citizens’ confidence in the banking system.”
He explained that “the adoption of electronic payment contributes significantly to reducing traditional cash transactions, which helps combat corruption and money laundering. It also contributes to accelerating commercial operations and the capital cycle in the Iraqi market, and enhances the integration of the national income cycle.”
Saleh pointed out that “digital transformation leads to improving the management of the state’s financial resources, which enhances its ability to collect taxes and fees more efficiently.”
He added, “This contributes to reaching advanced levels of growth in building the unified treasury account, which enables the banking system to operate credit and grant loans with the least amount of banking liquidity risks, which effectively enhances the financing of economic and development activity.”
alforatnews.iq
