The Central Bank sponsors a meeting to establish a national company to manage electronic payment systems in Iraq

The Central Bank sponsored, today, Wednesday, a meeting to establish a national company to manage electronic payment systems in Iraq.

The Central Bank’s media office stated in a statement received by {Al Furat News} that “Central Bank Governor Ali Mohsen Al-Alaq chaired the first preparatory meeting to establish a national company to manage central electronic payment systems in Iraq, with the participation of a number of bank officials, bank managers, electronic payment service provider companies, and the Iraqi Private Banks Association.”

He added, “During the meeting, the importance of regulating electronic payment operations, keeping pace with rapid technological developments, and creating a competitive payment industry that provides secure, reliable, easy-to-access, widely interoperable payment services, rapid response, and high flexibility to technical and regulatory changes were discussed.”

The office stated that “the meeting reviewed the company’s basic objectives and the special requirements for starting the establishment, as it will undertake the tasks of managing some of the central and basic electronic payment systems at the national level, operating them and developing them,” noting that “this step came in line with the strategic plan of this bank, which goes hand in hand with the government program in the field of electronic payment and its development in Iraq.”

Alforatnews.iq