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[size=36]The Central Bank announces the entry into force of the Cabinet's decision regarding the use of electronic payment devices[/size]
Economy| 09:32 - 01/06/2023
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Baghdad - Mawazine News
The Central Bank announced, on Thursday, the entry into force of the Cabinet’s decision regarding the use of electronic payment devices (POS).
The bank confirmed, in a statement, a copy of which Mawazine News received, that “Cabinet Resolution No. (23044) for the year 2023 entered into force, which is to increase the number of electronic payment devices (POS), which are used as of 6/1/2023 in government institutions.” And the private sector to promote a culture of electronic payment and collection, and reduce the use of paper money in collection and commercial transactions.
The bank indicated that “it has been going on for years to provide this service in accordance with its powers, and in compliance with the decision of the esteemed Council of Ministers, as it has started since the beginning of this year to expand the scope of work, hold workshops and launch incentive initiatives to implement financial inclusion and enhance the use of electronic payment by citizens in ministries.” And the bodies and state departments that work with collection and financial collection, such as the Ministry of Interior, Electricity and Oil, the Housing Fund, the Municipality of Baghdad, and the Ministry of Commerce. The citizen has the right to choose to pay in the way that makes it easier for him.
The bank indicated that “it has been going on for years to provide this service in accordance with its powers, and in compliance with the decision of the esteemed Council of Ministers, as it has started since the beginning of this year to expand the scope of work, hold workshops and launch incentive initiatives to implement financial inclusion and enhance the use of electronic payment by citizens in ministries.” And the bodies and state departments that work with collection and financial collection, such as the Ministry of Interior, Electricity and Oil, the Housing Fund, the Municipality of Baghdad, and the Ministry of Commerce. The citizen has the right to choose to pay in the way that makes it easier for him.
And he continued, "There are other government institutions and departments that will join the (POS) service during the next few days, in implementation of the aforementioned Cabinet decision."
The Central pointed out that "there is a great response from the private sector, commercial centers, licensed delivery companies, taxi companies licensed by the competent sectoral authorities, and some universities and private hospitals, by providing point-of-sale (POS) devices in their work."
The statement stated, "The bank has provided the necessary infrastructure and support for the launch of this project in its expanded form, and its continued development in accordance with the best international technologies and specifications in service of the public interest, and facilitating procedures for electronic cash circulation through bank cards." The service to the bank holding the account of the billed government entity shall be after the completion of processing and settlement operations in payment systems of high reliability and security, affiliated to the Central Bank of Iraq and in accordance with international best practices.
The Central pointed out that "there is a great response from the private sector, commercial centers, licensed delivery companies, taxi companies licensed by the competent sectoral authorities, and some universities and private hospitals, by providing point-of-sale (POS) devices in their work."
The statement stated, "The bank has provided the necessary infrastructure and support for the launch of this project in its expanded form, and its continued development in accordance with the best international technologies and specifications in service of the public interest, and facilitating procedures for electronic cash circulation through bank cards." The service to the bank holding the account of the billed government entity shall be after the completion of processing and settlement operations in payment systems of high reliability and security, affiliated to the Central Bank of Iraq and in accordance with international best practices.
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