Iraq’s Central Bank to set up e-payment national company

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Iraq’s Central Bank to set up e-payment national company

On Wednesday, the Central Bank of Iraq (CBI) decided to approve the establishment of the National Company for Electronic Payment Systems.

According to the national news agency, the Central Bank of Iran (CBI) stated in a press release that the establishment of the new company is a significant achievement for the country’s financial system.

The newly established national company will create, operate, and supervise the country’s highly efficient electronic payment and litigation systems. Additionally, the company will aim to enhance the functionality of the electronic payment system.

“The main task of the CBI will be to manage and supervise these systems.”

As per the regulations of the CBI and other legal frameworks, all parties involved will participate in forming the company’s legal, executive, and operational structure.

The government’s commitment to developing and implementing cutting-edge electronic payment systems aligns with the quick expansion of electronic financial services and their user base.