Central Bank of Iraq Initiates Path Toward Comprehensive Digital Transformation
The Governor of the Central Bank, Ali Al-Alaq, announced a strategic initiative on Saturday aimed at ushering the government towards a comprehensive electronic transformation.
According to Al-Alaq, “The government is developing a plan and roadmap to establish an e-government framework, encompassing ongoing steps, efforts, and the establishment of data centers. We anticipate that ministries will begin to actively engage in this endeavor.”
In his remarks, Al-Alaq revealed that the central bank has already implemented an integrated plan that has successfully reduced paper usage by 50% within its operations. He expressed optimism about achieving complete elimination of paper transactions in the near future.
Furthermore, Al-Alaq emphasized the central bank’s commitment to developing a digital currency. "This is a significant project we are undertaking in collaboration with international and Arab organizations, including direct coordination with the Arab Monetary Fund," he noted.
This initiative marks a pivotal step toward modernization within Iraq’s financial sector, aiming to enhance operational efficiency and streamline governmental processes through digital solutions.