The Iraqi Central Bank decides to establish a “national” company for electronic payment systems
The Iraqi Central Bank decides to establish a “national” company for electronic payment systems
2023-12-13 03:33
Shafaq News/ The Board of Directors of the Central Bank of Iraq decided, on Wednesday, to establish the “National Company for Electronic Payment Systems” throughout the country, indicating that the company represents a qualitative development in the structure of the country’s financial infrastructure.
A statement from the Central Bank, received by Shafaq News Agency, said, “The new company will assume responsibility for developing, operating and managing the national electronic payment and clearing systems with high efficiency and adding new elements to serve the electronic payment environment.”
The statement added that the role of the Central Bank of Iraq will revolve around “regulating and supervising these systems,” and implementation will begin and establish the legal, executive and operational framework for the company with the participation of all interested parties, in accordance with the Bank Law and applicable legislative frameworks.
According to the Iraqi Central Bank statement, this step coincides with the rapid growth in electronic financial services and products and the increase in the number of users in accordance with the framework of the government program to support and adopt advanced electronic payment systems.
shafaq.com
