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The Central Bank decides to establish the National Company for Electronic Payment Systems in Iraq
December 13, 2023
The Board of Directors of the Central Bank of Iraq decided to establish the “National Company for Electronic Payment Systems in Iraq,” indicating that
the company represents a qualitative development in the structure of the country’s financial infrastructure. He stated that
the new company will assume responsibility for developing, operating and managing the national electronic payment and clearing systems with high efficiency and adding new elements to serve the electronic payment environment. He added that
the role of the Central Bank of Iraq will revolve around organizing and supervising these systems, and that
implementation will begin and the legal, executive and operational framework for the company will be established with the participation of all interested parties, in accordance with the Bank Law and the applicable legislative frameworks.
It is noteworthy that this step coincides with the rapid growth in electronic financial services and products and the increase in the number of users in accordance with the framework of the government program to support and adopt advanced electronic payment systems.
Central Bank of Iraq
information Office
13 - December - 2023
https://cbi.iq/news/view/2485
December 13, 2023
The Board of Directors of the Central Bank of Iraq decided to establish the “National Company for Electronic Payment Systems in Iraq,” indicating that
the company represents a qualitative development in the structure of the country’s financial infrastructure. He stated that
the new company will assume responsibility for developing, operating and managing the national electronic payment and clearing systems with high efficiency and adding new elements to serve the electronic payment environment. He added that
the role of the Central Bank of Iraq will revolve around organizing and supervising these systems, and that
implementation will begin and the legal, executive and operational framework for the company will be established with the participation of all interested parties, in accordance with the Bank Law and the applicable legislative frameworks.
It is noteworthy that this step coincides with the rapid growth in electronic financial services and products and the increase in the number of users in accordance with the framework of the government program to support and adopt advanced electronic payment systems.
Central Bank of Iraq
information Office
13 - December - 2023
https://cbi.iq/news/view/2485
