The governor of the central bank determines the steps for developing the financial and banking sector
Baghdad / The Governor of the Central Bank, Mustafa Ghaleb Makhaif, set out today, Wednesday, steps to develop the country’s financial and banking sector.
In a speech on the occasion of the Arab Day for Financial Inclusion, Mukhaif said, “The Central Bank of Iraq seeks to develop the financial and banking sector by developing products and services provided in line with the needs of these two sectors’ customers, and sets among its priorities the support for digital financial services that contribute to enhancing financial inclusion. Through the diversity of these services and their ease of access to all segments of society at the lowest costs. ”
He added, “The Central Bank has adopted the development of the infrastructure necessary to accept digital services, such as payment by mobile phone, and the conduct of withdrawals and purchases through ATMs and points of sale, and has also taken steps to prepare the implementation of the project (Know your electronic customer).”
He continued: “He also urged banks to digitally transform the services provided by opening accounts remotely, and using applications such as mobile phone applications and internet banking services, in accordance with international best practices.”