The “Central” is facing political pressure to ease the controls of the platform Experts: Government

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[size=52]The “Central” is facing political pressure to ease the controls of the platform Experts: Government banks are “backward” and the hoarded funds are estimated at 50 trillion[/size]

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Experts in the field of technology and digital transformation considered the recent government statements about the process of digitizing banking transactions, to conduct citizens’ transactions and combat corruption and money laundering, as talk for media consumption only, and that the issue has become similar to anti-corruption slogans launched by officials.[/size]
[size=45]The experts emphasized that the government is unable to lead this process alone, and that the digital transformation process in the country must be led by an independent body, far from quotas, and carried out according to sober policies and a predetermined plan, subject to the process of continuous development.[/size]
[size=45]official statements[/size]
[size=45]Yesterday, Tuesday, the Prime Minister, Muhammad Shia'a Al-Sudani, received a delegation from the international company, Visa, for electronic payment cards, stressing that his government is proceeding with plans for financial inclusion and digitization of banking transactions, and upgrading them. To meet international standards and applicable specifications at an international level.[/size]
[size=45]Al-Sudani indicated, according to the official office statement that was received by “Tariq Al-Shaab,” that “the government’s steps in this field will facilitate financial transactions for citizens, reduce time and strengthen the umbrella of the law by implementing controls that combat money laundering.”[/size]
[size=45]For her part, the Minister of Finance, Taif Sami, stressed the need to transfer banking dealings from paper to electronic to reduce time and simplify procedures for citizens, according to what was reported by the Rafidain Bank, in a statement received by “Tariq Al-Shaab”.[/size]
[size=45]And she stressed the necessity of "implementing the government program in applying the banking system and the goals that are achieved through it in the transition from paper-to-electronic transactions, reducing time, simplifying procedures and overcoming obstacles, away from routine, in addition to intensifying efforts to improve the level of services provided to customers."[/size]
[size=45]The statement added, "The goal of the visit comes to identify obstacles and diagnose weaknesses in the performance of the banking sector and work to overcome them by strengthening the capabilities of the comprehensive banking system and providing its requirements to ensure the provision of the best services to the bank's customers."[/size]
[size=45]Many requirements[/size]
[size=45]In this regard, the expert in the field of technology and electronic governance, Ali Anwar, said that the Iraqi state does not differentiate between the concepts of automation, governance and digitization and mixes them with each other, while each of them is not similar to the other and has differences, pointing out that these official statements are nothing more than media talk. Just; The problem of banks is not digitization, because the banking sector is highly developed in this respect.[/size]
[size=45]Anwar added, in his interview with “People’s Way,” saying that the government “on its own is unable to lead this process, because at first we suffer from a lack of legal legislation, and this is related to the work of the Parliament, and we have a problem in the absence of an independent body that manages digital transformation, as there are more One side wants to manage the file, including the General Secretariat of the Council of Ministers, the Ministry of Communications and the Ministry of Interior.[/size]
[size=45]The spokesman - who is a consultant to 12 banks in Iraq to draw governance and digital transformation plans - pointed out that "the process of digital transformation and automation is a program that does not stop but continues to evolve, so we must have that" the process of digital transformation and automation is a program that does not stop but rather It continues to evolve, so we must have a strategy in digital transformation, and plans,” indicating, “We have not yet clearly distributed roles and responsibilities between state institutions on the one hand, and between the relationship of the private sector and civil society organizations on the other hand.”[/size]
[size=45]He continued his speech, saying: “The government is still working with the mentality of unilateral action, and these results are clear. We are living experiences and slogans only, without a clear plan starting from drafting correct drafts of laws and legislation that we need in this field, drawing up policies, plans and a road map, and then forming an independent body that leads the process of digital transformation as in the countries of the world, and we keep it away from quotas, and this talk may be a dream.”[/size]
[size=45]According to the expert, the banking sector is one of the advanced sectors in digitization in Iraq, compared to the health, education, transportation and other sectors, and this is due to the fact that it is governed by the Central Bank to implement international standards and systems.[/size]
[size=45]He pointed out that “the Central Bank issued a complete guide in 2019 called (Governance Guide), and imposed it on banks, and the paradox here is that government banks are lagging behind in terms of applying central bank standards and global systems, while they are the ones that have the largest cash block.”[/size]
[size=45]He noted that “AML systems impose international laws and policies on central banks, and the latter reflect them on the banking sector,” continuing to talk that “the central bank always puts requirements on banks, but some banks hesitated, and unfortunately used political pressure on the central bank to evade Implementation of controls and instructions.[/size]
[size=45]accountability first[/size]
[size=45]On a related level, the expert in the field of combating corruption, Saeed Yassin, said that Iraq has three files before it, which are money laundering, smuggling and financing of terrorism, and there are procedures and requirements that Iraq must implement in this aspect.[/size]
[size=45]Yassin added, in an interview with him about “The People’s Way,” that “the first of these measures is the issue of automation;
The monetary mass available to the citizen is around 50 trillion dinars, stored outside the banking system, and those concerned should think about how to integrate this money into the economy through a series of procedures. Part of it is by establishing trust through cooperation with international companies, which are recognized and have precedents in this field. On the other hand, control over financial transfers.[/size]
[size=45]Yassin stressed that digitization and electronic transfer are not sufficient, “without accountability of the parties that were evading and practicing the money laundering process, and we will continue to spin in the same vortex, as digitization and automation only determine and through which we know the path of money, and it enhances the citizen’s confidence in the banking system in Iraq, and the great challenge remains to be held accountable these parties.”[/size]
[size=45]He concluded that the government should adopt clear policies developed by financial and monetary experts, in addition to adopting the principle of law policy and enforcing it strictly and fairly without discrimination.[/size]
[size=45]Muhammed
Al-Tamimi[/size]
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