The Central Bank of Iraq convened the regular meeting of the Iraqi National Payments Council, chaired by Governor Ali Mohsen Al-Allaq, to review initiatives to develop the technical, legislative and regulatory infrastructure underpinning payment systems and financial technologies and to broaden the adoption of electronic payment tools across government and the private sector. The Council discussed expanding electronic payment channels in ministries and public institutions, assessed the development of digital infrastructure and financial services provided by government banks as a pillar of digital transformation, and emphasised measures to raise financial and banking awareness. Members also highlighted the need to protect users from cyber risks and to increase awareness of financial and digital fraud, with recommendations including expanding the use of payment technologies and fintech in the education sector and supporting initiatives targeting students and youth.
Central Bank of Iraq 2025-10-26
Central Bank of Iraq reviews payment system and fintech infrastructure initiatives and steps to expand electronic payments
The Central Bank of Iraq's National Payments Council, led by Governor Ali Mohsen Al-Allaq, reviewed initiatives to enhance payment systems and financial technologies, focusing on expanding electronic payment channels, developing digital infrastructure, and increasing financial awareness while addressing cyber risks and digital fraud. Recommendations included promoting payment technologies in education and supporting youth-targeted initiatives.