Ministry of Higher Education and Scientific Research
وزارة التعليم العالي و البحث العلمي
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2019/03/18 | 10:22:49 : AM |

College of Management and Economics Holds a Seminar on the Digital Currencies and Its Advantages in Iraq

The College of Management and Economics held a scientific seminar on the reality of digital currencies and how to use in Iraq, attended by a number of specialists, lecturers, and students and representatives of a group of Iraqi private banks.The Dean of the College, Dr. Maitham Ali'ybi, said that the seminar aimed to discuss the mechanisms and ways of transforming from monetary to non-monetary economy, in light of the new economic visions that depend on the provision of electronic financial services through the use of digital currencies, bank transfers, debit cards, Automated and Internet banking.The seminar included the introduction of digital currencies, its main advantages, and benefits for citizens and governments, the historical development of international currencies and electronic trading papers, as well as the role played by non-paper financial transactions and the use of electronic payment cards in developing and facilitating business operations for public and private enterprises.The seminar tackled the reality and future of electronic payment in Iraq, the relationship between digital currencies and money laundering operations, the obstacles facing the application of accounting control over virtual currencies and how to avoid being exposed to electronic theft, as well as reviewing the successful experiences carried out by some developed countries in the field of transition to non-economic Cash.The seminar recommended educating the society segments about the importance of electronic payment cards, their benefits and ways of using them, increasing the spread of banking, enhancing confidence in banks and paying attention to developing the services they provide, expanding the reliance on the Internet in delivering these services to their beneficiaries and enacting the laws related to these transactions to guarantee rights.*

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