The National Payments Council reviews countries’ experiences in electronic payment systems

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The National Payments Council reviews countries’ experiences in electronic payment systems

On Saturday, Ali Mohsen Al-Alaq, the Governor of the Central Bank, chaired the inaugural meeting of the Iraqi National Payments Council. The Council reviewed the experiences of other countries in this field.

A statement from the Central Bank revealed that Ali Mohsen Al-Alaq, the Governor of the Central Bank of Iraq, chaired the first meeting of the Iraqi National Payments Council. The meeting was attended by officials from the Central Bank, representatives of relevant ministries, government and private banking sectors, and payment service providers. During the meeting, the objectives of the Council and its main tasks were discussed, which include implementing national strategies to develop the infrastructure of the financial and banking sector, advancing the components of the electronic payment environment, and strengthening the pillars of financial inclusion in Iraq.

During the council meeting, it was discussed how other countries have implemented payment systems and the necessary mechanisms to implement the Iraqi Council of Ministers’ decisions No. 23044 and 23620 for the year 2023. Proposals were also made to expand the scope of Iraqi electronic payment systems and connect them with various ministries and agencies, with the aim of encouraging the public to use them and benefit from the advantages they provide.