THE ROLE OF DIGITAL TRANSFORMATION MECHANISMS IN PROMOTING THREE-DIMENSIONAL STRATEGIES OF SUSTAINABLE DEVELOPMENT: EVIDENCE FROM IRAQ

Abstract

The limited availability of resources in the contemporary era presents a considerable challenge to the adoption of sustainable development (SD) strategies. In a time defined by digitalisation and globalisation, numerous researchers have highlighted the urgent necessity of digital transformation (DT) as a pathway to achieving sustainability goals. However, a discernible gap remains in the academic discourse regarding the specific contribution of DT to promoting sustainability. This study aims to explore the pivotal role of DT in advancing the three pillars of SD—economic, social, and environmental—within the commercial banking sector. Furthermore, the research emphasises the importance of information systems and communication technology in the context of Iraqi commercial banks. It seeks to examine the concept and significance of DT in this sector while delineating the various dimensions of SD strategies. The study identified the five banks most effective in implementing DT mechanisms, distributing 200 questionnaires to collect data. The analysis revealed a significant and positive correlation between DT and the dimensions of SD in the Iraqi commercial banking sector.