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Islamic Banks Association: A national electronic payment company contributes to enhancing development
Economic 08/22/2024
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The Iraqi Association of Islamic Banks considered the Central Bank’s move to establish a national company specializing in managing electronic payments as a step towards strengthening the development system in the country.
The association stated in a statement received by Al-Sabah, a copy of which said that “the recent measures of the Central Bank were fruitful,” noting that “the Central Bank is preparing to hold talks with the US Treasury Department and the US Federal Reserve to return the banks banned from dealing in the US dollar.”
In its statement, the Association appreciated the continuous efforts made by the Central Bank and the Anti-Money Laundering and Combating the Financing of Terrorism Office through the committee, which resulted in a positive evaluation by the Financial Action Task Force (FATF).
She stressed that the Central Bank's establishment of a national company specialized in managing central electronic payment in Iraq is a positive step in developing the financial development system and enhancing the efficiency of electronic payment in the country.
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