The Governor of the Central Bank participation in the banking fair for the salaries Localization

The Governor of the Central Bank of Iraq Dr. Ali Mohsen Ismail participated in the banking fair for salaries localization which organized by the General Secretaries Council of Ministers in cooperation with Iraq Private Banks League.

In his speech at the opening of the fair, the Governor said that in order to transform from a fully monetary society to a society that adopts electronic payment tools, the Central Bank has led this process through the acquisition of systems and reliance on infrastructure and adoption of the best procedures in line with international standards. Also added that the salaries localization project will reduce the cost of printing, counting and sorting the currency and reducing direct and indirect risks to individuals and institutions.

The Governor pointed out that this transfer aim to create competitive market develops banking  services and practices and pointing that there is a wide interaction by the banking sector to ensure the success of the project of localize salaries through the use of the best programs and equipment, noting that the Central Bank provided the legal and legislative framework to work with payment tools through the formation of the Supreme Council for electronic payment, which includes the public and private sector, stressing that "the project of salaries localization means improving the process of financial inclusion."