The conference was called under His Excellency Mr. Ali Mohsen Al-Alaq, Governor of the Central Bank of Iraq, to discuss the initiative of distributing point-of-sale (POS) devices and digital transformation. Attended the conference were representatives of the central bank as well as other electronic payment companies operating in Iraq. They discussed numerous ways to implement the project and strategies of keeping an eye on it.
Conference attendees discussed the primary challenges in spreading point-of-sale (POS) devices. They stressed the necessity of extending the geographical coverage to cover the entire country. They also considered several solutions for the issues of using bank cards and settling their amounts inside and outside of Iraq using the national exchange.
The Governor underscored the positive impact of the increasing point-of-sale system availability on Iraqi streets. It is vitally essential for consumers to use bank cards instead of cash, hence banks and all electronic payment providers should give top priority. The Governor emphasized the significance of developing appropriate marketing plans to support digital financial inclusion in Iraq.
Central Bank of Iraq
Media Office,
October 26, 2023
