Baghdad – conscious
The World Bank confirmed on Wednesday that the infrastructure for electronic payment systems in Iraq is the best in the region.
A statement from the Central Bank received by the (INA) stated, “The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, received a delegation from the World Bank headed by the Director of the World Bank’s office in Iraq, Richard Abdel Nour.”
He added, “During the meeting, strengthening bilateral cooperation between the Central Bank of Iraq and the World Bank was discussed, and electronic payment projects and financial inclusion were discussed, as well as reform programs to enhance the stability and development of the financial sector.”
He explained, “The two parties discussed the support of the World Bank to provide advice in establishing the Riyada Bank dedicated to financing small projects in Iraq, with the support of the International Finance Corporation.”
In turn, the World Bank delegation praised “the Central Bank of Iraq’s procedures in facilitating financial transfers to different segments in Iraq,” noting that “the infrastructure for electronic payment systems and software systems in Iraq is among the best systems in the region.”