The meeting chaired by His Excellency, Mr. Ali Mohsen Al-Alaq, Governor of the Central Bank of Iraq, discussed the project of spreading point-of-sale (POS) devices and digital transformation. The meeting was attended by representatives from the central bank and several electronic payment companies operating in Iraq. They discussed various strategies to implement the project and ways to follow up on it.
During the meeting, the attendees discussed the key challenges in the process of spreading point-of-sale (POS) devices. They emphasized the importance of expanding the geographical coverage to include all areas of the country. Additionally, they discussed the issues related to the use of bank cards and settling their amounts through the national exchange within and outside Iraq, and explored possible solutions to these problems.
The Governor emphasized the positive impact of the increasing availability of point-of-sale devices on the streets of Iraq. Encouraging citizens to use bank cards instead of cash is crucial, and it should be a priority for all electronic payment companies and banks. The Governor also stressed the importance of developing appropriate marketing plans to support digital financial inclusion in Iraq.
Central Bank of Iraq
Media Office,
October 26, 2023
