Association of Private Banks: Iraq is witnessing great development in the transition to electronic government

Association of Private Banks: Iraq is witnessing great development in the transition to electronic government

4-26-2024

Association of Private Banks - Iraq is witnessing great development in the transition to electronic governmentThe Association of Private Banks confirmed today, Friday, that Iraq is witnessing great development in the transition to electronic government

A statement by the association, received by Al-Rabaa, stated that “the head of the Iraqi Private Banks Association, Wadih Al-Handal, participated in the Arab Economic Security Forum, which was organized by the Union of Arab Banks in Beirut.”

Al-Handal stressed, “The forum is being held in complex circumstances and geopolitical changes taking place in the region, and the Arab banking sector has begun to be affected, starting with the State of Iraq,” adding that Iraq is still facing major challenges, at various economic levels, including depriving the Iraqi private banking sector of using… The dollar, which has exceeded half the number of banks operating inside the country, is a very dangerous indicator, despite the efforts of Iraqi governmental and private institutions to comply with local and international anti-money laundering and terrorist financing laws, but for the first time we are witnessing a clear targeting of the sector that has begun to affect banking services inside the country, and undermine confidence. citizens, and hinders the expansion of financial inclusion.”

He added, “These challenges facing the banking sector reaffirm the prominent role played by the Union of Arab Banks, international organizations, and Arab banks in coordinating positions and confronting dangers together,” noting that “our meeting represents an opportunity for cooperation and agreement on an action roadmap for the future.” “The targeting of the Iraqi banking sector will not stop within its borders, and may expand at any moment to other countries in light of the regional turmoil.”…

faceiraq.org