The World Bank said today, Wednesday, that Iraq’s electronic payment system infrastructure is the finest in the region.
“Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, received a delegation from the World Bank headed by the Director of the World Bank’s office in Iraq, Richard Abdel Nour,” the Central Bank’s media office stated in a statement obtained by Al-Mutla’.
“During the meeting, reform programs to enhance the stability and development of the financial sector were discussed, as well as electronic payment projects and financial inclusion,” he said. “Strengthening bilateral cooperation between the Central Bank of Iraq and the World Bank was also discussed.”
“The two parties also discussed the support of the World Bank to provide advice in establishing the Riyada Bank, with the support of the International Finance Corporation, dedicated to financing small projects in Iraq,” he stated.
As stated in the statement from the Iraqi Central Bank, the World Bank delegation also commended “the Central Bank of Iraq’s procedures in facilitating financial transfers to different segments in Iraq,” adding that “the infrastructure of electronic payment systems and software systems in Iraq is among the best systems in the region.”
