Electronic Payments in Shaping the Economic Future Seminar

We are glad to attend the enlightening seminar titled “Electronic Payments in Shaping the Economic Future”, which took place on Sunday, January 7, 2024 in Baghdad at Palestine Hotel. The event was organized in sponsorship of Electronic Payment Culture in Iraq (E.P.C. Iraq), the Central Bank of Iraq, the Iraqi Private Banks League, the Iraqi Federation of Chambers of Commerce, and the Iraqi Trade League. The seminar gathered a number of experts and specialists in electronic payments.

The event took a start as Mr.  Nabil Al-Najjar, the founder of the Electronic Payment Culture platform in Iraq, highlighted the importance of Iraq adopting advanced financial technologies to address challenges in the financial sector. Followed by Parliament member, Mr. Hussein Arab who emphasized the support for the private banking and economic sector, calling for effective financial policies and recognizing the significance of electronic payments in tackling issues like money laundering.

Discussions covered obstacles in electronic payments, advocating for a clear system and unified payment program. Mr. Sabah Al-Baghdadi, Deputy to Iraqi Federation of Chambers of Commerce, addressed electronic card interruptions, stressing the need to remove obstacles and clarify payment mechanisms.

Furthermore, Mr. Ahmed Kadhim, Director of the Investment Department at the International Smart Card Company (QI), discussed the shift towards non-traditional work and the importance of a strong infrastructure.

The panel further discussed electronic payments’ impact on the Iraqi economy, addressing challenges and emphasizing the need for a clear payment system. A following panel discussion featured representatives from various financial entities, providing insights into the developments in payment methods in Iraq and the benefits of adopting electronic payments. Our attending team represented by Mr. Mustafa Abdullah Najim and Ms. Hadeel Nabeel Abdul Ghafor, also distributed a number of special 2024 planners prepared by our firm to attendees including major banks and electronic payment service providers such as Altaif Islamic Bank, Al-Janoob Islamic Bank for Investment and Finance, Al-Tabadul, Arab Payment Service (APS), AMWAL E-Payment Hub, and BHTC for Training & Consulting.

We extend our thanks to all participants and sponsors for the success of the seminar, representing a significant step towards financial innovation.and we eagerly anticipate more enriching seminars fostering interaction and contributing to the development of our economic sectors, and confirm our firm readiness and professional capability to support such seminars.