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The Association of Iraqi Private Banks announced that the percentage of financial inclusion in Iraq has risen to 33.5% as a result of the measures taken by the Central Bank in implementing the financial inclusion strategy .
The Executive Director of the Association of Iraqi Private Banks, Ali Tariq, said in a press statement that the percentage of financial inclusion increased from 22.5% during the year 2020 to 33.5%, an increase of about 49% from the year 2020, due to the Central Bank’s policy to support the project to localize employee salaries and increase the opening of Banking branches, digital transformation support, electronic wallets, payment points and ATMs .
He added that the increase in the percentage of financial inclusion was reflected in the increase in confidence in the banking sector, and thus it would reflect positively on growth in the economy in general .
Tariq indicated that the number of employees who settled their salaries until the end of 2021 amounted to about 4 million employees, which contributed to the number of banking branches reaching 905.
He stressed that the increase in financial inclusion is related to focusing on increasing financial transactions for individuals or companies and benefiting from various banking services. He indicated that the volume of electronic wallets grew by 71% over the past year. As well as with a noticeable increase in the volume of deposits and credit provided to various sectors .
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