Challenges Facing Digital Banks in Light of Sustainable Development

Sustainable development is active and its scope is expanding for banks according to the capabilities of banking institutions and their ability to finance natural and legal persons and achieve an important financial resource while maximizing profits to achieve economic recovery and expand the ability of traders to trade and obtain abundant loans and operate money and prevent obstacles to the prosperity of the customer market and strive to achieve confidence and the interests of investors, and the UNCITRAL Model Law on Electronic Commerce issued by the United Nations for the Trade Law of 1996 was concerned and the Central Bank of Iraq issued controls for licensing digital banks for the year 2024 and obligated financial institutions interested in establishing a digital bank in Iraq to adhere to the regulations set by the Central Bank of Iraq. The Iraqi legislator also issued the Electronic Payment Services System for Money No. (2) of 2024. To address these risks, we must address the electronic banking risks and the legal and technical challenges facing banks.