Central Bank of Iraq's Governor Reports on Status of POS in Iraq
According to Ali Al-Alaq, the Central Bank's Governor, POS devices positively affect Iraqi streets. POS stands for Point of Sale devices.
The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, chaired a meeting attended by representatives of this bank and several electronic payment companies operating in Iraq, in which they discussed ways to follow up the spread of point-of-sale devices (POS) and digital transformation."
According to the statement, the meeting reviewed the most critical challenges facing the spread of point-of-sale (POS) devices and the importance of expanding the geographical area to cover all parts of the country, as well as solving the problems facing the use of bank cards and settling their amounts via the national exchange inside and outside Iraq.
The governor stressed that "the spread of POS devices has positive effects on the Iraqi street, and that the importance of encouraging citizens to use bank cards instead of cash, and that it should be a priority for electronic payment companies and all banks," stressing the need to develop appropriate marketing plans for the inclusion of digital financial products in Iraq.
