The Central Bank of Iraq begins the process of electronic payment to reduce the use of paper money

by **Rocky** Thu 01 Jun 2023, 4:23 am

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Post n°1

The Central Bank of Iraq begins the process of electronic payment to reduce the use of paper money

by Rocky Thu 01 Jun 2023, 4:23 am

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THURSDAY, 01-06-2023, AM 11:33
KARRAR AL-ASADI

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The Central Bank of Iraq announced the entry into force of Cabinet Resolution No. (23044) for the year 2023, which is to increase the number of electronic payment devices (POS), which are used as of today, Thursday, the first of June in government institutions and the private sector to enhance the culture of electronic payment and collection, and reduce The use of paper money in collection and commercial transactions.
The Central Bank of Iraq confirmed, in a statement received by the news agency Noon, 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 the citizens located in the ministries, agencies, and departments of the state 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.
He noted that every entity that provides its services or has financial collection with citizens directly will work through electronic payment devices (POS), and the citizen has the right to choose payment in the way that facilitates it, revealing at the same time that there are other institutions and government departments that will join the (POS) service. During the next few days, in implementation of the above-mentioned Cabinet decision.
The Central Bank also indicated 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 added that this 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 the procedures for electronic cash circulation through bank cards, explaining that the transfer of funds electronically from the cards of the beneficiaries of this service. To the bank holding the account of the government entity, the invoices will be after the completion of the processing and settlement processes in the payment systems of high reliability and security, affiliated to the Central Bank of Iraq and in accordance with the best international practices.
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by **Rocky** Thu 01 Jun 2023, 5:04 am

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Post n°2

The Central Bank of Iraq begins the process of electronic payment to reduce the use of paper money

by Rocky Thu 01 Jun 2023, 5:04 am

The Central Bank of Iraq begins the process of electronic payment to reduce the use of paper money

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2023-06-01 01:41
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Shafaq News/ The Central Bank of Iraq announced that Cabinet Resolution No. (23044) for the year 2023 has entered into force, represented by increasing the number of electronic payment devices (POS), which are used as of today, the first Thursday of June, in government institutions and the private sector to promote a culture of electronic payment and collection Reducing the use of paper money in collection and commercial transactions.
And the Central Bank of Iraq confirmed, in a statement today, that it has been going 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 the citizen. They are located in the ministries, agencies, and departments of the state 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.

He noted that every entity that provides its services or has financial collection with citizens directly will work through electronic payment devices (POS), and the citizen has the right to choose payment in the way that facilitates it, revealing at the same time that there are other institutions and government departments that will join the (POS) service. During the next few days, in implementation of the above-mentioned Cabinet decision.
The Central Bank also indicated 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 added that this 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 the procedures for electronic cash circulation through bank cards, explaining that the transfer of funds electronically from the cards of the beneficiaries of this service. To the bank holding the account of the government entity, the invoices will be after the completion of the processing and settlement processes in the payment systems of high reliability and security, affiliated to the Central Bank of Iraq and in accordance with the best international practices.
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The Central Bank of Iraq begins the process of electronic payment to reduce the use of paper money

The Central Bank of Iraq begins the process of electronic payment to reduce the use of paper money

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The Central Bank of Iraq begins the process of electronic payment to reduce the use of paper money

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