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The Deputy Executive Director of the Association of Iraqi Private Banks, Ahmed Al-Hashemi, called on the government to focus on the digital economy during the current years to make Iraq keep pace with the development taking place in the world.
Al-Hashemi said in a statement seen by "Economy News", that "Iraq needs to give the private sector the appropriate environment to transition to digital transformation, as the revolution in information and communications is currently similar to what the world witnessed in the industrial revolution that occurred in 1760," noting that "the legislative authority The future needs to focus on supporting the digital economy through appropriate legislation.”
Al-Hashemi pointed out that the world is witnessing great leaps in technological development, as the transactions of companies and citizens are completed via the Internet without any review, while Iraq is still adopting the primary mechanisms that increase financial and administrative corruption and contribute to the delay in completing the transaction in terms of time.
Al-Hashemi praised the government’s approach to establishing a youth support fund of 30 billion dinars, which supports technical projects, which contributes to the development of the Iraqi economy and makes young people go towards pioneering projects, pointing out that the private banking sector has begun to publish electronic payment tools in all the country, and requires Shop owners need to use a Pos device to organize the buying and selling process, reduce theft, waste, and more.
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