Economy News

The digital transformation conference in the financial sector in Baghdad was held with Jordanian participation

The Association of Iraqi Private Banks organized a conference on digital transformation in the financial sector in cooperation with the Jordanian-Jordanian Economic Association and with the participation of more than 20 Jordanian companies and the presence of prominent personalities, including Minister of Communications Naeem Al-Rubaie, Jordanian Minister of Digital Economy and Central Bank Governor Ali Al-Alak.

The digital transformation of financial operations in the Iraqi banking sector is a cornerstone of economic growth as well as contributing to creating new jobs that enable individuals and companies to access useful financial products and services at prices that meet their needs,” said Al Ali. In a responsible manner “.

Digital financial technology will help expand access to financial services, especially those that are difficult to access by banks or financial institutions, as well as the potential positive growth of digital banking services in the banking industry and enhance financial inclusion,” he said.

The coming period will witness a remarkable development in the field of financial technologies based on solid foundations of legal and regulatory frameworks, adoption of rules of governance and adherence to international standards as well as IT infrastructure.”

We welcome the brothers from Jordan in their second country, Iraq, and I would like to meet with you today to discuss ways of cooperation and challenges facing our two countries in the process of digital transformation which has become an urgent necessity for economic and social development,” said Ali Tarek, Executive Director of the Association of Iraqi Private Banks. , As the governor pointed out two years ago at a conference organized by the Association of Iraqi Banks on Banking Technologies that we are in a race against time and that survival is faster.

The efforts of all the banking sector and the direct support of the Central Bank of Iraq have led to an acceleration in the banking sector to cope with the digital transformation and development of its infrastructure and the preparation of its human cadres and technical systems in order to achieve the desired goal to be our main support sector and strategic partner sectors Where the payment process is the most important challenge of digital transformation for all sectors. “

In the light of the vast development in the world of Internet and information technology and the urgent need for innovation, creativity and financial leadership, we are working today to support and motivate Iraqi youth to enter this world through ideas that support the transformation through financial technologies,” he said.

On his part, the Chairman of the Jordanian-Iraqi Economic Association, Khaled Tayseer Kanaan stressed the importance of building real and equal partnerships between the Iraqi and Jordanian institutions in order to ensure continuity and sustainability and create job opportunities for youth in both countries.

He also stressed the readiness of the Jordanian private sector to extend all the support in the field of technology to their counterparts in the Iraqi private sector.

The digital transformation is a transformation in all sectors, including humanity, not just electronic services,” said the chairman of the Jordanian production association Bashar al-Hawamdeh. “Our association has great experience in the field of intellectual property protection and how to operate proprietary systems “We are now putting our expertise as Jordanian companies in the service of Iraq, because we have been able in a number of Arab countries to apply e-government and digital transformation in terms of technology and thought.”

The conference consisted of three sessions on the topics of digital transformation in the financial sector, regulations and laws related to digital transformation in the banking sector, as well as the promotion of digital transformation through information technology, with the participation of Iraqi Minister of Communications Naeem Al-Rubaie and Jordanian Minister of Digital Economy and Entrepreneurship Muthanna Gharaibeh with the participation of about 20 companies Jordanian and Iraqi.

At the end of the conference, an agreement was signed between the Association of Iraqi Private Banks and the Jordanian-Iraqi Economic Association and a production association, whereby the parties involved in the field of transfer of expertise and technical and technical consultations will cooperate through meetings, conferences and symposia, which will raise the level of technology and implement training programs in the field of information technology and digital transformation in Iraq. Source