BAGHDAD: The Governor of the Central Bank of Iraq (CBI), Ali Mohsen Al-Alaq, engaged in discussions with the German Ambassador to Iraq, Ms. Christiane Homann, focusing on enhancing banking relations, the financial inclusion plan in Iraq, and the critical role of digital transformation. The meeting also covered the upcoming launch and support for Al-Riyada Bank which aims to finance small-scale projects. According to National Iraqi News Agency, the discussions highlighted the Iraqi public's increasing interest in utilizing electronic payment methods, a trend supported by several initiatives by the CBI in coordination with relevant authorities. Al-Alaq emphasized the proactive steps taken by the Central Bank to promote electronic payments across the country. During the meeting, Al-Alaq detailed the objectives of Al-Riyada Bank, which is set to cater to small and medium-sized enterprises (SMEs). He noted that the bank would differ from traditional financial institutions by offering unconventional products desi gned to create employment opportunities and foster a stable investment climate. Al-Alaq also mentioned that the bank would feature representative offices in major Iraqi banks to enhance accessibility and customer service. The session also addressed the broader reforms in the government and private banking sectors, supported directly by the Prime Minister, aimed at ensuring a stable, secure, and efficient banking environment. Ambassador Homann expressed Germany's readiness to provide advisory and technical support for these significant projects, which align with the mutual objective of diversifying Iraq's economy.