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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Implementation of the Cabinet's decision regarding the deployment of point-of-sale (POS) devices

    Rocky
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    Implementation of the Cabinet's decision regarding the deployment of point-of-sale (POS) devices Empty Implementation of the Cabinet's decision regarding the deployment of point-of-sale (POS) devices

    Post by Rocky Mon 06 Mar 2023, 7:45 am




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    Implementation of the Cabinet's decision regarding the deployment of point-of-sale (POS) devices

    March 06, 2023
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    Based on what was stated in the decision of the Council of Ministers and in line with the strategy and directions of the Central Bank of Iraq to achieve the principle of financial inclusion, and the optimal use of channels for accepting electronic payment tools, especially points of sale  (POS) , we would like to inform all licensed banks of the following :
     
    First : All licensed banks must publish the above service as follows :

    1. Spreading the electronic collection service using point-of-sale (POS) devices by having the necessary licenses, systems and software to manage the point-of-sale devices inside Iraq and in accordance with the controls and instructions issued by this bank .

    2. Contracting with actively licensed electronic payment service providers (collectors and processors) who have completed the procedures for linking with the national exchange on the actual environment, and approving the licenses granted to them by international payment companies (Visa and MasterCard )
     
    Second / Based on the decisions of the Council of Ministers, the following will be implemented starting from 6/1/2023 :

    1. Exempting electronic payment and collection devices ( POS devices and automated teller machines   (ATM) for payment and collection systems with bank cards imported by banks, from customs fees and taxes in all their forms .

    2. Exempting all transactions by electronic payment (POS) from taxes, which requires you to intensify efforts by various means of advertising to educate merchants to purchase point-of-sale  (POS) devices.
     
    Third / This bank is working hard and according to the [You must be registered and logged in to see this link.] contained in the decisions of the Council of Ministers to study the issuance of a number of supporting decisions and instructions that contribute to facilitating the deployment of electronic payment tools, especially the deployment of point-of-sale (POS) devices  .
     
    To inform us of your actions taken regarding what was stated in Paragraph (First) above, and within a period of (7) working days from the date of issuance of this letter of ours, bearing in mind that 1/6/2023 is a deadline for starting the provision of point-of-sale (POS) service  .
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