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Consensus on the acceptability of using electronic payment
Economical 08/18/2024
Baghdad: Hussein Thaghab
The Executive Director of the Iraq Fund for Development, Muhammad Al-Najjar, believes that electronic payment is now achieving acceptable results in various regions, as electronic services exist in all cities and towns. He said in a statement to Al-Sabah:
The great government support for this joint, which will move the reality of financial transactions to a new stage, requires that all relevant institutions work to develop their performance and make the services provided rise to international standards in an effective and serious manner. He pointed out that
Iraq's goal is to attract the advanced global effort to the Iraqi work arena alongside the Iraqi effort, and
here the paths of financial services must be in continuous development and in harmony with the needs of international companies, since the volume of work in Iraq accommodates our local and international efforts and they are all anticipating an ideal financial sector.
It is noteworthy that the Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, said that the Central Bank of Iraq is working side by side with the government program and the Prime Minister’s direction in supporting electronic payment, as the amounts processed in the national exchange systems amounted to more than (2) trillion Iraqi dinars in the month of July. alone, compared to (800) billion dinars in the same month of 2023, after which it became (1) trillion dinars in January of 2024, and government payments also witnessed an additional increase, reaching (912) billion Iraqi dinars last July compared to (287) million dinars from the same month for the year 2023.
He expressed his hope that government institutions would adopt the establishment of units specialized in electronic payment technologies to work on following up and developing this important aspect.
The Executive Director of the Association of Iraqi Private Banks, Ali Tariq, stated that the electronic payment paths are in continuous development and are proceeding in accordance with the plans that have been drawn up to advance the reality of this important joint, pointing out that
the government’s assurances and the instructions of the Central Bank of Iraq urging the expansion of the use of electronic payment have led to the advancement of the reality of these transactions, which It has continued to expand.
Tariq pointed out that the citizen has begun to interact with electronic financial transactions in his daily life after seeing the ease of performing it in a safe manner that guarantees his money and takes it to the appropriate place with ease.
Also, the economic benefits of the reality of electronic payment have become clear, as it makes the money move in a safe direction away from Forms of manipulation that you may witness when dealing in cash.
Tariq stressed that POS points of sale exceeding the 50,000 mark indicates the acceptability of dealing with electronic payment, and of course
this development needs to be strengthened by providing products that rise to global standards in performance, indicating that government decisions supporting this trend achieve clear positive results. He pointed out that
all institutions concerned with electronic payment must pay great attention to the issue of education and make it one of their priorities, and that
there should be a clear role for the media in making all segments of society knowledgeable about the reality of electronic payment and the benefits it brings to the beneficiary and how it is adopted globally and protects citizens’ money, as well as achieving benefits. to the user.
Tariq had indicated that the directions of the government and the Central Bank provide a historic opportunity to stimulate the use of electronic payment, as it witnesses a clear focus and the issuance of many decisions that serve to accelerate its use in a way that ensures the expansion of its adoption, pointing out that
Iraq is witnessing for the first time decisions that serve the electronic payment process in light of the presence of Infrastructure at the Central Bank, the banking system, and electronic payment companies. He pointed out that
the outside world has witnessed a major revolution in the field of electronic payment and a complete move away from cash dealing, as it provides safe paths for funds and their transfer without any disruption.
In Iraq, electronic payment will expand to the extent that the benefits will be felt by the largest segment of society.
https://alsabaah.iq/101196-.html
Economical 08/18/2024
Baghdad: Hussein Thaghab
The Executive Director of the Iraq Fund for Development, Muhammad Al-Najjar, believes that electronic payment is now achieving acceptable results in various regions, as electronic services exist in all cities and towns. He said in a statement to Al-Sabah:
The great government support for this joint, which will move the reality of financial transactions to a new stage, requires that all relevant institutions work to develop their performance and make the services provided rise to international standards in an effective and serious manner. He pointed out that
Iraq's goal is to attract the advanced global effort to the Iraqi work arena alongside the Iraqi effort, and
here the paths of financial services must be in continuous development and in harmony with the needs of international companies, since the volume of work in Iraq accommodates our local and international efforts and they are all anticipating an ideal financial sector.
It is noteworthy that the Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, said that the Central Bank of Iraq is working side by side with the government program and the Prime Minister’s direction in supporting electronic payment, as the amounts processed in the national exchange systems amounted to more than (2) trillion Iraqi dinars in the month of July. alone, compared to (800) billion dinars in the same month of 2023, after which it became (1) trillion dinars in January of 2024, and government payments also witnessed an additional increase, reaching (912) billion Iraqi dinars last July compared to (287) million dinars from the same month for the year 2023.
He expressed his hope that government institutions would adopt the establishment of units specialized in electronic payment technologies to work on following up and developing this important aspect.
The Executive Director of the Association of Iraqi Private Banks, Ali Tariq, stated that the electronic payment paths are in continuous development and are proceeding in accordance with the plans that have been drawn up to advance the reality of this important joint, pointing out that
the government’s assurances and the instructions of the Central Bank of Iraq urging the expansion of the use of electronic payment have led to the advancement of the reality of these transactions, which It has continued to expand.
Tariq pointed out that the citizen has begun to interact with electronic financial transactions in his daily life after seeing the ease of performing it in a safe manner that guarantees his money and takes it to the appropriate place with ease.
Also, the economic benefits of the reality of electronic payment have become clear, as it makes the money move in a safe direction away from Forms of manipulation that you may witness when dealing in cash.
Tariq stressed that POS points of sale exceeding the 50,000 mark indicates the acceptability of dealing with electronic payment, and of course
this development needs to be strengthened by providing products that rise to global standards in performance, indicating that government decisions supporting this trend achieve clear positive results. He pointed out that
all institutions concerned with electronic payment must pay great attention to the issue of education and make it one of their priorities, and that
there should be a clear role for the media in making all segments of society knowledgeable about the reality of electronic payment and the benefits it brings to the beneficiary and how it is adopted globally and protects citizens’ money, as well as achieving benefits. to the user.
Tariq had indicated that the directions of the government and the Central Bank provide a historic opportunity to stimulate the use of electronic payment, as it witnesses a clear focus and the issuance of many decisions that serve to accelerate its use in a way that ensures the expansion of its adoption, pointing out that
Iraq is witnessing for the first time decisions that serve the electronic payment process in light of the presence of Infrastructure at the Central Bank, the banking system, and electronic payment companies. He pointed out that
the outside world has witnessed a major revolution in the field of electronic payment and a complete move away from cash dealing, as it provides safe paths for funds and their transfer without any disruption.
In Iraq, electronic payment will expand to the extent that the benefits will be felt by the largest segment of society.
https://alsabaah.iq/101196-.html
