Iraq pushes digital banking transformation at Baghdad Conference

Shafaq News/ Iraq's Central Bank Governor said on Tuesday that the bank is focused on strengthening the banking sector's digital infrastructure and ensuring the provision of innovative and secure services to meet growing customer demands.

“Our vision revolves around enhancing the digital infrastructure of the banking sector and guaranteeing innovative, secure services that address the increasing needs of clients,” Central Bank Governor Ali Mohsen Al-Alaq said in a speech at the opening of the fourth annual international scientific conference in Baghdad, titled "Digital Financial Services: Challenges of the Present and Future Prospects."

Al-Alaq highlighted that the central bank has launched several strategic initiatives aimed at enabling banks and financial institutions to adopt modern digital solutions. “These efforts align with the broader objective of fostering innovation and improving the efficiency of Iraq’s financial sector.”

The conference, organized by Iraq’s Ministry of Finance under the patronage of Finance Minister Taif Sami Mohammed, aims to promote digital transformation in the financial sector in line with global advancements.

The two-day program includes panel discussions featuring local and international experts and interactive workshops designed to build participants' capabilities and equip them with modern tools and techniques to support digital transformation efforts.

According to financial experts, the event is expected to conclude with strategic recommendations to develop a joint action plan that addresses local needs while accelerating digital transformation in line with the Iraqi government’s vision for a robust digital economy.