Economy News – Baghdad
The European Union has reiterated its commitment to support Iraq in enhancing financial literacy as a crucial aspect of development. The launch of the “our bank” application represents a significant advancement in developing future financial strategies for Iraqi households.
During the launch of the “our bank” application and the accompanying smart robot for financial awareness, Lotz Zimmerman, the Qatari Director of the German Development Agency (GIZ), emphasized the importance of financial culture and its practical implications in Iraq. He remarked, “The introduction of this application marks a vital milestone in facilitating access to financial services and streamlining banking interactions,” underscoring the necessity for effective tools and guidance to maximize the application’s benefits in alleviating financial issues and improving fiscal management.
Lennart de Reader, head of the European Union Cooperation Department and representative of the German embassy, elaborated on the evolving landscape of financial services. He noted, “Access to financial services is no longer a luxury; it is a critical necessity.” The European Union is placing significant emphasis on financial inclusion, particularly in light of technological advancements that necessitate enhanced digital banking solutions.
De Reader further stated that the European Union, in conjunction with the German government and the Central Bank of Iraq, is focused on promoting financial transparency and improving governmental capabilities in this sector to ensure the successful implementation and development of financial systems.
He highlighted that the launch of the “our bank” application is a foundational step toward strengthening the Iraqi economy, as it serves as a key tool for disseminating financial information and boosting financial literacy. This initiative aims to enable individuals to access banking services with precision and efficiency.
In conclusion, he affirmed the EU’s commitment to supporting Iraq financially and fostering a culture of financial education, stating, “Progress in this arena is essential for sustaining the nation’s economic development.”
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