By John Lee.
In his speech to a conference in Baghdad, Ali Mohsen Al-Allaq, Governor of the Central Bank of Iraq (CBI), highlighted significant progress in digital payments, citing an increase in ATMs and e-wallets, which helped boost financial inclusion to 40% from 20% in just two years, supported by CBI initiatives.
He noted that Iraqi banks are undergoing major transformations, adopting internationally accredited financial systems to enhance cross-currency transactions and banking operations. Looking ahead, he envisioned banks shifting from traditional entities to smart digital platforms, issuing digital financial identities to facilitate seamless transactions.
Al-Allaq also stated that cash transactions will gradually decline, with digital payments issued by central banks replacing physical currency. CBI is actively working on launching its own digital currency, mirroring global trends. Additionally, Iraq is planning to establish a national data center, critical for digital economy growth, AI applications, and big data analysis.
He called for a comprehensive national strategy to accelerate Iraq's digital transformation.
(Source: CBI)
Revalue baby, revalue!
Let's see how the dinar pumpers will spin this
What a misleading headline. Replacing isn't going to happen anytime soon. Increasing options, starting a digital currency, and development of financial systems and/or infrastructure.
People interested in the dinar (IQD) might like to check out our Dinar Page here: https://www.iraq-businessnews.com/the-dinar-page/?swcfpc=1
This guy is part of a group loyal to Iran, he participates in smuggling billions of dollars to Iran, also he is behind the collapse of the Iraqi Dinar.
The Iraqi government about to announce bankruptcy because every department is owned by a militia loyal to Iran and they are stealing the money.