Economic Update – Baghdad
The Governor of the Central Bank, Ali Al-Alaq, announced a significant initiative aimed at comprehensive electronic transformation today, Saturday.
Al-Alaq expressed that “the government is actively implementing a strategic plan and road map to transition to an electronic governance model. This involves various steps, efforts, and the development of a data center, and we anticipate that ministries will engage proactively in this endeavor.”
He further stated, “Our central bank has developed a holistic plan that has already led to a reduction of 50% in paper usage within our operations, and we are on the verge of completely eliminating paper transactions.”
Additionally, he mentioned, “The central bank is in the process of developing a digital currency. This initiative represents a substantial undertaking, facilitated through collaboration with both international and Arab organizations, and involves direct coordination with the Arab Monetary Fund.”
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