Abstract

THE ROLE OF ELECTRONIC-PAYMENT SERVICE PROVIDERS IN THE DEVELOPMENT OF E-BANKING IN IRAQ - AN APPLIED RESEARCH IN CENTRAL BANK OF IRAQ

Supervisor Prof. Kholoud Hadi Al-Rubaie, Nassar Bashar Hussein Al-hafidh

Volume: 10 Issue: 1 2020

Abstract:

Since 2003, Iraq has faced many serious challenges to develop and reform its banking sector. As a major step to improve this sector, the Central Bank of Iraq (CBI), responded by taking many measures, amongthem, issued many legislations and regulations relating to electronic payments systems to adapt the global advances in that systems and to reduce the use of cash payment transactions dominating the payment transactions in Iraq. This applied research is aimed atdetermining the challenges facing the application of electronic banking in general and electronic payments services in particular, andto investigate the role of the Electronic Payment Services Providers (EPSP)companies recently licensed in Iraq to improve the electronic payment services.The information/data for this research gathered from the related available published literatures, direct interviews with key managers of Electronic Payment Services Providers (EPSP) companies and questionnaires. Such information and data were tabulated and analyzed in accordance to the methods and procedures of (SPSS) statistic program.Theresearcher usedthese data to test the main hypothesisstating :(there is no positive effect /relation of a statistical significant, between the new technological services provided by (EPSP)companies and the development of electronic-banking system in Iraq),but the outcome of the analysis rejected this hypothesis and approved that there is a related direct effect and relation, of statistical significant, between them at aSignificant Level(Sig) of  Despite the considerable efforts made by (CBI) to applying a new technologies of banking and payment services, Iraq is still lagging behind other developing countries in the region .The analysis of the survey also showeda considerable poor performance of the (EPSP)companies dueto its lag of experience as new comers,but with a significant indication that some respondents particularly the educated class (aged between 29-49), prefer to use their smart mobile phones and their PC computers to make their payments transactions, instead of dealing with cash in the banks. To improve the electronic banking and payment systems in Iraq, the researcher recommended the following immediate measures:

DOI: http://doi.org/10.37648/ijrssh.v10i01.042

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