The Iraqi banking sector is witnessing its largest digital expansion deal to launch more innovative digital services.
The Iraqi banking sector is witnessing its largest digital expansion deal to launch more innovative digital services.
12-13-2025
Baghdad-Mail
The National Bank of Iraq praised the investment developments taking place in Iraq, stressing that this is a strategic step that enhances the digital transformation in the country, while noting that the development of banking services is in line with the highest international standards.
The bank said in a statement, “The bank has approved the purchase of 51% of the shares of both the Iraqi Electronic Gateway for Financial Services Company ( SWITCH ) and the Digital Future for Electronic Distribution Services Company,” noting that “the General Assembly approved the authorization of the authorized manager, Ayman Omran Abu Dahim, to sign all agreements, documents and papers necessary to complete and implement the investment decisions.”
He explained that “this step is an integrated business model that combines the banking solvency and advanced technological capabilities of the two companies, enabling the bank to launch an innovative digital services system that includes developing national payments, enhancing financial inclusion for individuals and small and medium-sized enterprises, as well as expanding the network of partnerships with global financial institutions. This expansion comes in light of the increasing demand for financial technology solutions and smart payment applications in the Iraqi market.”
He explained that “this investment opens the door for the bank to integrate its banking expertise with the technical capabilities of the two companies, which will enhance the development of advanced electronic payment services, transfers, digital wallets, and points of sale, in addition to launching rapidly evolving digital platforms that meet market needs and keep pace with digital transformation trends.”
For his part, the Chairman of the Board of Directors of the National Bank of Iraq, Basim Khalil Al-Salem, said that “the purchase of 51% of Switch and Digital Future companies is a strategic step that reflects confidence in the ability of the Iraqi economy to lead the digital transformation in the region. This expansion is in line with the bank’s vision of building an advanced financial system based on innovation and advanced technologies, and supporting the development of banking services in accordance with the highest international standards.”
Ayman Abu Dahim, the authorized manager of the National Bank of Iraq, said, “This investment represents a qualitative leap for the National Bank of Iraq, as it provides an advanced technological infrastructure that enables the bank to expand its digital services and launch new products that meet the growing market needs. The integration of the bank’s expertise and the technical capabilities of the two companies will contribute to strengthening the electronic payments system and providing smart and secure solutions that enhance the customer experience and support the digital transformation in the Iraqi banking sector.”
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