Iraq has made major progress in digital finance. Government institutions now rely more on digital tools than ever before. So a Asenior official confirmed this transformation on Monday.
Digital system usage rose from 18% in 2022 to 32% today. This shift marks a 78% increase in just three years. Ministries and public institutions are adapting quickly.
The use of bank cards also increased. As well as Iraq now has between 21 and 22 million active credit, debit, and prepaid cards. So Two years ago, the number stood at just 16 million. That shows a 38% rise in electronic card use across the country.
In addition, the number of point-of-sale (POS) devices grew fast. Iraq now has about 62,000 active POS terminals. In addition That figure is up from less than 10,000 just two years ago. This increase marks over 520% growth, helping expand digital finance access.
The push for financial inclusion also gained momentum. Around 40% of Iraqis now use banking services. So In 2019, fewer than 10% were connected to formal banks.
Prime Minister Mohammed Shia al-Sudani supports this shift. He introduced key programs to build a strong digital finance system. His government launched multiple executive actions to boost progress.
First, the government will launch a national debit card by the end of next year. Second, a rapid payment platform will support faster transactions. As well as Third, tax and fee payments will soon move to one unified system.
Next, Iraq plans to localize private sector salaries. The plan follows the same strategy used in the public sector. In addition Finally, the National Data Center will set up a central complaints unit. This center will help solve issues linked to digital finance.
Officials expect all these projects to finish within a year. The goal is clear: put Iraq among the global leaders in digital finance. With this momentum, Iraq hopes to increase access and trust in modern payment tools.
Iraq’s digital finance transformation reflects a wider shift. The country is embracing new tools and ideas to build a stronger economy. More Iraqis now use banking, cards, and POS machines in daily life.
Digital finance in Iraq is growing fast. The government’s plan aims to keep that growth on track.