Iraq is moving forward with a comprehensive digital transformation plan, announced by Central Bank of Iraq (CBI) Governor Ali Al-Alaq.
Al-Alaq stated that the government is implementing a strategy to transition to a fully digital government. Iraqi ministries are leading the initiative, with actions already underway, including new initiatives and the establishment of a data center.
Paper transactions at the CBI have reduced by 50% in the past year and are expected to be fully eliminated soon, according to Al-Alaq.
The CBI is also developing a digital currency, with ongoing collaboration with Arab and international organizations, including the Arab Monetary Fund.
In February, Al-Alaq revealed plans for a digital currency to replace paper notes in transactions with central banks.
The Prime Minister’s Office (PMO) emphasized that digital transformation is a key element of Iraq’s broader strategy for digital business and artificial intelligence.
During a November meeting with Deemah AlYahya, Secretary-General of the Digital Cooperation Organization (DCO), Prime Minister Mohammed Shia Al-Sudani stressed the government’s commitment to digital reforms, including electronic payments. Al-Sudani expressed readiness to collaborate with the DCO on projects that would support Iraq and the region’s digital and AI development.