Central Bank: The decision to activate electronic payment includes the government and private sector

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Economie
 

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Today, Saturday, the Central Bank of Iraq
confirmed that the use of electronic payment tools will be circulated in the government and private sectors in a binding manner.
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The deputy governor of the bank, Ammar Hamad Khalaf, told the Iraqi News Agency (INA): “The cabinet’s decision to activate electronic payment in all joints aims to reduce the use of cash and increase dealing with money electronically through the use of cards, Which is an important complement to the salary localization project that began to be implemented several years ago. He
added, “The decision will enable the bank to implement a mechanism that enables employees to receive their salaries through the payment cards currently used, such as the MasterCard, and it is filled into their bank balance without the need to receive cash.” "
He continued, "The Central Bank will intensify its efforts to increase the use of payment cards in markets and shops, and the Cabinet's decision will require government institutions and all spending units in the public and private sectors to find electronic payment devices in their dealings. "
"Payment via electronic devices will reduce cash circulation, and it is better in terms of saving money and safer than transferring it," he stressed.
Earlier, the Central Bank of Iraq detailed the advantages of generalizing electronic payment in the country for citizens and merchants, and while indicating that the method will be circulated as binding procedures for owners of projects and shops, it indicated that existing cards such as Master and Visa Cards can be used for payment without the need to issue new ones.
The Deputy Governor of the Central Bank, Ammar Hamad Khalaf, told Al-Iraqiya News, and was followed by the Iraqi News Agency (INA): “The government's decision to activate electronic payment in all joints represents important support for the Iraqi bank and economy , reducing the costs of transferring paper money, as well as making it safe.”
He added, “The bank has been working to put this service into effect for years as a basic business strategy to complement the salary settlement project that began years ago, and it supports reducing outlets for cash (cash) as a case that does not serve the Iraqi economy."
And he continued, "electronic payment has great positive effects on citizens, merchants, and banks, as for the citizen it will reduce the costs of obtaining a salary or revenue as a result of the money he pays through cash payment tools, and for the Merchant, the movement of his money will be safe instead of carrying it with him or stacking it in places and being exposed to circumstances.” beyond its control, which leads to its destruction.
On how to practice the electronic payment process, Khalaf said, “All cards owned by citizens, such as Visa and MasterCard, can be used through the payment device, and there will be no need to issue new cards for those who own them, and These cards can also be used outside Iraq and will enable the citizen to obtain an exchange rate in the country's currency. The one he visits is higher than the cash exchange rate.”
And he added, "The card will enable the citizen to buy the dollar at a price of 1465 dinars from the outlets provided by the Central Bank, which is better than buying it in cash at a higher price."
As for the devices used for payment, he said: “These devices exist, but they are few, and now, after the cabinet’s decision, the Central Bank will take measures to provide them and reduce the costs of obtaining them for companies, shopping outlets , and merchants, and decisions will be issued by the bank to achieve this goal.” 
And on how citizens are encouraged to use this service, Khalaf stressed that "the issue will encourage citizens after the use is generalized in commercial stores, because awareness alone is not sufficient," noting that "the decision of the Council of Ministers obligated the owners of projects and commercial stores to use the electronic payment device, otherwise they will not They are given a vacation, and this will help popularize this method.[/size]
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[size=46]Central Bank of Iraq: The decision to activate electronic payment includes the government and private sectors[/size]