Iraq to develop CBDC as part of wider digitisation drive
Central bank governor says e-payment methods will gradually supplant paper money
The Central Bank of Iraq has announced plans for a digital currency, according to media reports.
Governor Ali al-Allaq told a press conference in the capital Baghdad on February 26 that the currency would “gradually replace paper notes, as is happening in some global central banks”.
The governor said the wider financial and banking systems would also undergo “fundamental transformations”, including the decline of paper currencies and their replacement by digital payments.
Allaq added that the
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