Banking activity in light of digitization (Iraq is a case study)

Abstract

Traditional banking services are no longer able to reach a large segment of the population efficiently, with high quality, and with great speed. Therefore, modern banking services have been developed and activated through the information network (the Internet), whose functions are focused on providing the electronic money transfer service and electronic payment methods in a way that ensures easy access to them. At low cost and quality, which are factors that attract the customer, and for the purpose of knowing the procedures adopted by the Central Bank of Iraq to transform from traditional methods of managing banking work to modern methods, the procedures for implementing electronic banking in Iraqi banks were discussed and the extent to which members of society obtain it and the impact of these procedures on the activity Commercial banks operating in the Iraqi economy. The research recommended the necessity of expanding to keep pace with global technological developments in the field of electronic banking, preparing infrastructure such as means of communication, working on training technical personnel to manage communications procedures, and seeking to spread the electronic banking culture. This digital development was reflected in the rise in the bank’s commercial indicators, as deposits, cash credit, and the rest of the indicators increased significantly.