Home
Specialists call for the activation of "electronic dealing" in the markets
Economical 2023/01/25
[You must be registered and logged in to see this image.]
Baghdad: Hussein Thaghb Al-Tamimi
A number of specialists in the financial sector pointed out the importance of the Cabinet's decision to use POS devices and its positive impact on the reality of financial transactions within the local markets, which is an effective step towards electronic dealing and exemptions in fees imposed on financial movements .
And the Council of Ministers had obligated the Central Bank of Iraq to facilitate the procedures for granting licenses to collect international bank cards using point-of-sale ( POS ) devices with low commissions on banks and agencies that use these devices .
And (POS) is a digital tool that helps automate the various electronic sales operations via cards instead of cash, and facilitates sales control and inventory management .
Haider Kazem Al-Baghdadi, a specialist in economic affairs, told Al-Sabah: “The decision issued by the Council of Ministers regarding points of sale (POS) represents an important step in the right direction, and greatly activates the reality of electronic payment in all regions of Iraq without exception, especially It includes reducing commissions for the financial transactions that the customer performs when using the electronic payment card .
He pointed out that "this step will see the results of the citizen over time, when he finds goods that offer good discounts for sale using the electronic card and through the "POS", and this is one of the encouraging things in the actual transition to electronic payment, which is safer than cash trading . "
And he believes that "we find regionally that there is a wide spread of dealing in this way, and the citizen does not carry cash inside and outside his country, in addition to the facilities that are provided to those who carry this payment card, as it is granted in some seasons a significant discount, which is one of the most important incentives for the trend for electronic transactions . "
Al-Baghdadi stressed the necessity of "obliging banks to publish the POS in all places, as well as expanding the deployment of ITM , in order to expand the activation of the movement of money electronically," indicating that the decision comes at the right time and makes the citizen aware of the importance of adopting safe technology in his daily life, away from risks .
The specialist in economic affairs, Hamila Abdel Sattar Kurdi, praised the decisions of the Council of Ministers and their importance at this time by shifting towards electronic payment, indicating the importance of keeping pace with the evolving global effort that is witnessing continuous developments, through the development of products that are in harmony with the international labor market .
Kurdi pointed out that "the banking system is in a race to provide the best services to different customers, companies and citizens, as it must provide advanced services that keep pace with developments and are commensurate with the requirements of the developed international effort that is looking to enter the local labor market . "
And she praised "the Central Bank's directions aimed at expanding the electronic payment space inside the country, and paying attention to financial inclusion to include a larger area than it is now . "
The Council of Ministers obligated all governmental, non-governmental and mixed departments, trade unions, associations and centers in which the amounts are collected to open bank accounts and set up electronic payment POS devices to pay by bank cards to collect money, and to enable those who wish to pay with cards, while keeping the cash receipt side by side, It also obliges all private schools, universities, private colleges, and fuel processing stations of all types and locations, and throughout Iraq, to open bank accounts and set up point-of-sale devices for electronic payment.
[You must be registered and logged in to see this link.]
» utube 7/6/24 MM&C Iraq Dinar-IQD-AI-Economic & Digital Impact Critical-JPMorgan-100% Completion Po
» MM&C 7/7/24 INVESTMENT AUTHORITY : SINGAPORE AGREEMENT WILL ACCELERATE IRAQ'S INTERNATIONAL RATING"*
» utube 7/8/24 MM&C Iraq Dinar-IQD Solid Credit-Strong & Stable Investment Environment-Oil Agree
» Bitcoin Drops Again on Mt. Gox Debt Repayment Concerns
» Parliamentary Legal: Political differences have delayed the passage of many laws
» Financial Advisor: Iraq's internal debts are greater than its external debts
» US Deputy Assistant Secretary of Defense arrives in Iraq
» Parliamentary Finance Committee reveals thefts of travelers' dollars
» The Central Bank announces the submission of the “E-Commerce System Project” paper to the Council of
» Security expert warns of US threats to violate Iraqi sovereignty
» Basra Council threatens to blacklist defaulting companies
» Al-Maliki Coalition: Parliament presidency crisis will continue during upcoming sessions
» Denunciation was of no use.. Statistics on the number of Turkish violations in northern Iraq
» Parliamentary Economy Committee warns government against extending Basra-Aqaba pipeline
» Foreign remittance sales rise at Central Bank of Iraq auction
» "Huge amounts" .. Iran calculates the value of its exports to Iraq during 2024
» A parliamentarian is surprised by the complete lifting of restrictions on Nour Zuhair.. How much mon
» 4 billion dinars wasted in constructing two service projects in Kirkuk
» Reconstruction: The ring road will be implemented in 4 phases.. These are the details
» Parliamentary Finance clarifies.. Will selling dollars at the airport limit its smuggling?
» "Its amendment is not impossible" .. Parliamentary law responds to Al-Sudani regarding the salary sc
» Al-Sudani's advisor: The Central Bank of Iraq will address the rise in the dollar... What about the
» Under Barzani's patronage, the National Bank of Iraq signs an agreement to finance the construction
» Iraq is the fifth largest economy in the Arab world and the 52nd largest economy in the world
» Baghdad.. Arrest of a number of private generator owners who violate the official pricing
» Outside the Ministry and Parliament.. A call to form a specialized committee to develop a new strate
» The Iraqi Academy for Combating Corruption announces the results of the competitive examination for
» Minister of Labor: We will continue to support outstanding students from families covered by social
» Labor releases accumulated amounts for full-time appointee salaries for the years 2019-2020
» Salaries and oil are "less important" than the real issue.. What are the secrets of Barzani's visit
» Victory Coalition raises three points in the recent Turkish incursion into the Kurdistan Region
» Revealing the number of employees in the region whose salaries are domiciled so far - Urgent
» Latest developments regarding the position of Parliament Speaker.. Threatening a third round for pre
» Officers are the reason for the Americans' stay... and free trips to Las Vegas
» He stressed that the plans to develop the service reality are not limited to city centers... Al-Suda
» The Central Bank submits the “Draft E-Commerce System” to the Council of Ministers for approval
» “Towards reviving the aviation sector”.. Iraq awaits the lifting of the European ban
» Al-Shammari in Kuwait on an official visit
» Head of the Judicial Council and a UN official discuss issues related to the work of (UNITAD)
» Integrity: Stopping the waste of nearly 3.5 billion dinars in the Nasiriyah Municipality
» Most importantly, water.. Al-Sudani and the new Turkish ambassador discuss several issues
» The Central Bank submits the system paper on e-commerce to the Sudanese
» Central Bank sales exceed $275 million in today's auction
» Legal Committee "Blows Up" Major Government Obstacles to Salary Scale, Offers Quick Solution
» Warnings of Turkish military operations shifting from fighting the PKK to oil exploration
» Parliamentary Finance Committee talks about a decision that "created a crisis" for corrupt and thiev
» After despairing of the government.. intentions of a parliamentary move against the Turkish economy
» Again.. Exchange rates exceed the threshold of 150 thousand for every hundred dollars
» Salah El-Din.. Severe imprisonment for employees in the Real Estate Registration Department
» US Increases Scrutiny Over Chinese Land Purchases Near Military Bases
» MM&C 7/4/24 Tabaqchali: An Unfolding Structural Economic Transformation in Iraq
» utube 7/4/24 MM&C IQD Updates - Iraqi Dinar - Relations w / Baghdad & Kurdistan - Good - Financial
» Economist: Employee salaries are not affected by any liquidity crisis, but their disbursement is del
» Half of Iraq's population is covered by... Al-Sudani's advisor announces important statistics on gov
» Four billion dollars in a month.. The Central Bank reveals the volume of its hard currency sales
» Sudden outage in the most important electricity lines imported from Iran to the eastern regions of I
» Parliament indicates "single way" to eliminate 95 percent of corruption in state institutions - Urge
» Al-Sudani's advisor comments on the fluctuation of the dollar price: It does not suit the strength o
» Baghdad Council reveals the reason for generator owners’ failure to adhere to pricing: Collusion and
» Political analyst on the appointment of a “reformist president” for Iran: His goal is to please Kham
» Sudden blackout of Iranian power lines to Iraq
» Integrity Commission calls for removing encroachment on 26 properties belonging to a company affilia
» Iran, Iraq agree to open border markets between the two countries
» Food prices rise with the advent of Muharram... and popular anger against traders and the closure of
» Legislative session begins on Tuesday.. Date of first session revealed, 5 laws on agenda
» The government program on the parliament table and the entry of the Muharram insurance plan in the a
» Parliamentary Finance to NINA: Oil companies’ dues added to budget tables, government coordination t
» PM's adviser unveils AI budget
» Openness to 6 countries to create an "Iraqi experience" in modern irrigation and 10 sites nominated
» We build: Stopping dealing in the Chinese yuan is a limitation for the Iraqi economy
» State of Law: Restoring oil pipelines is more important than establishing Aqaba
» Economist explains the results of stopping dealing in the Chinese Yuan
» Turkish exploration in Iraq: a violation of sovereignty and regional complicity
» Will the development road turn into the Silk Road in the future?
» Among them are the Baath leaders in Jordan.. Politician: 3 reasons that push us to reject the Aqaba
» Currency war rages on, Iraq's economy the biggest loser
» Suleiman: Türkiye violates Iraq's sovereignty because of its failure to solve its internal problems
» Al-Fatlawi: Sunnis linked the position of the Parliament Speaker to the crisis of forming the Diyala
» Al-Ghanimi: Political aspects stand behind not withdrawing US forces
» Economist: Electricity crisis can be overcome by providing renewable energy
» MP criticizes government for not addressing dollar exchange rate
» Al-Salihi calls for an extraordinary parliamentary session to discuss the Turkish incursion
» MP threatens to open 6 files in the Ministry of Transport .. suspicions of corruption
» Parliamentary Planning Committee reveals latest details of government program evaluation
» Parliamentary demand to abolish the Ministry of Immigration after closing the camps for the displace
» Dhi Qar coordinates with the government to resolve the issue of the Popular Mobilization Forces’ lan
» Iraq's oil exports to America decline during the week
» Iraq is the largest importer of Jordanian goods for the third year
» Kurdistan Youth Participate in Iraqi Government Projects
» Clarification from the Housing Fund regarding life insurance for borrowers
» $1.4 billion.. The value of cryptocurrencies stolen in the first half of 2024
» Parliamentary Committee on Agricultural Land Ownership Law: Under Study and Preparation
» Health: Adding more than 4,000 beds within the government program projects
» Social Care Leave Includes.. Labor Announces New Plans This Year
» Includes a new strategy.. Karbala Municipality announces its service plan for the month of Muharram
» The dollar stabilizes in local markets in Baghdad
» Kurdistan's losses approach $13 billion due to halt in oil exports
» Government warns of “serious threat” to Iraqis