Baghdad – IA
Today, Wednesday, the Central Bank of Iraq decided to establish the National Company for Electronic Payment Systems in Iraq.
The Central Bank stated in a statement, received by the (INA), that “the Board of Directors of the Central Bank of Iraq decided to establish the “National Company for Electronic Payment Systems in Iraq,” indicating that “the company represents a qualitative development in the structure of the country’s financial infrastructure.”
The statement added, “The new company will assume responsibility for developing, operating, and managing the national electronic payment and litigation systems with high efficiency and adding new elements to serve the electronic payment environment.”
He continued, “The role of the Central Bank of Iraq will revolve around organizing and supervising these systems, and that implementation will begin and the legal, executive and operational framework for the company will be established with the participation of all interested parties, in accordance with the Bank Law and the applicable legislative frameworks.”
He pointed out that “this step coincides with the rapid growth in electronic financial services and products and the increase in the number of users in line with the framework of the government program to support and adopt advanced electronic payment systems.”