Government advisor: Iraq ranks third in the Arab world in terms of bank cards

Iraqi News

4 days ago

Baghdad-INA
The Prime Minister's financial advisor, Mazhar Mohammed Salih, confirmed on Saturday that Iraq's ranking as third in the Arab world in the number of bank cards issued is an important indicator of the development of the financial sector and the growing community and international confidence in government measures.
Saleh told the Iraqi News Agency (INA): "Iraq will fully enter the era of electronic collection by the middle of this year,this will strengthen the confidence of financial institutions and global investment banks that Iraq is moving towards a more transparent and professional economy, using advanced methods that ensure economic prosperity."
He added that "electronic collection will also give the impression that the Iraqi financial environment is now more prepared to welcome financial technology solutions and investments in the digital banking and insurance sectors in an attractive and accelerated manner."
Saleh noted that "this step reflects the strategic government effort to modernize the financial infrastructure and facilitate cashless transactions."
He continued, "Iraq ranked third in the Arab world in the number of bank cards issued, which is an important indicator of the development of the financial sector and the growing community and international confidence in government measures."
He indicated that "the government is actively pursuing digital financial transformation to achieve advanced levels of sustainable development, in accordance with the indicators of the National Development Plan 2024-2025 and the current government program."
He explained that "the progress achieved by Iraq in the use of digital banking payments undoubtedly indicates the rapid strategic progress achieved in spreading the use of bank cards and the beginning of a structural transformation of the Iraqi economy towards a digital economy."
Saleh stated that "utilizing modern technology will enable Iraq to achieve qualitative leaps in financial inclusion, maximize added value in the national economy, reduce poverty and unemployment, and facilitate broader economic reforms."
He noted that "this is also a major success for the government's e-governance program and the implementation of an integrated and fundamental digital infrastructure, paving the way for the transition to a digital economy and broad financial inclusion," he continued, "This progress also represents an important foundation for building an integrated digital market in Iraq, where the banking infrastructure becomes capable of handling both international and domestic electronic transfers."
He added that "electronic transfers will serve digital financing operations for small projects and develop electronic payment and tax collection systems."
He pointed out that "the move toward a carbon market as a new investment tool relies on electronic or digital platforms," while emphasizing that "the increasing number of bank cards means a wider segment of citizens are entering the formal financial and banking system by opening bank accounts, which facilitates the expansion of the use of mobile banking services, digital wallets, and electronic payments for bills, purchases, and other services, in addition to activating electronic government services such as salary payments, support, and social care."