Iraq progressing slowly towards electronic financial transac

[Stillw8n]

Iraq progressing slowly towards electronic financial transactions

Baghdad, February 1 (Rn) – The Iraqi Ministry of Finance said on Wednesday that the country has not achieved significant progress in moving towards electronic financial transactions relied upon to facilitate financial transactions.

Iraq and enact laws to attract capital and investors to enter the country to contribute to government efforts in rebuilding the country after decades of war and siege.

But the security tensions, corruption and red tape hamper those efforts.

The Director of the electronic systems in the Ministry of Finance Najwa Said told the Kurdish news agency (Rn) that “in 2011 has seen clear progress in financial transactions and electronic,” noting that “the proportion of electronic financial transactions of 65%, which is good.”

She added that “the Ministry of Finance introduced in 2005 the Department of Electronic Systems to expand the electronic exchange and at different levels to the development of Iraq and delivery to the trade-mail.”

She Said, saying that “the work of the Department of Electronic Systems is provided on an ongoing basis that they require additional efforts in the coming period to develop a culture of financial transactions and electronic government in the institutions of government departments.”

She described the organization in Iraq, global banks, which issued its report in July last June, the country “backward” in the electronic financial transactions of cash.

And The Ministry of Finance of Iraq to develop an integrated plan for the development of e-government banks and financial relations in the activation of this aspect.

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