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Today, the Central Bank launches the electronic payment project
The first 06/01/2023
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Ahmed Abed Rabbo
Today, Thursday, the Central Bank officially launches the electronic payment project (POS) in line with the economic developments taking place in the developed countries of the world, and this project paves the way for reducing dealing in paper currency.
It is hoped that the government will oblige all government institutions working to collect money and provide services and all spending units to provide electronic payment devices in their dealings, in line with this vital project.
And the Prime Minister, Muhammad Shia'a Al-Sudani, recently directed ministries and agencies not associated with a ministry and all governorates to expedite the use of points of sale (pos) to collect money from citizens and to make unremitting efforts for that.
The Deputy Governor of the Central Bank d. Ammar Hamad Khalaf told Al-Sabah: The departments and ministries that work with collection will adopt, starting today, Thursday, the electronic payment system, stressing that the citizen has the right to pay through these devices or by cash during collection, after those departments provide their services.
He added, "There will be cooperation with the private sector by providing point-of-sale devices such as malls, places of sale, trade and services, as well as licensed companies that deliver orders, and taxi companies licensed by the competent sectoral authorities."
The Deputy Governor pointed out that "the Central Bank has provided the necessary infrastructure and support for the continuity and sustainability of this project while developing it according to the best international technologies, practices and specifications in service of the public interest and facilitating procedures for electronic cash circulation through bank cards."
For his part, the economist Mustafa Akram Hantoush praised, in an interview with "Al-Sabah", the efforts of the Central Bank, noting that "these steps contribute to ensuring stability in the local markets."
Hantoush added, "The activation of electronic payment in all joints aims to deal with funds electronically through the use of cards, and it is part of the salary settlement project launched by the Central Bank earlier."
He explained, "This approach would increase the rate of financial inclusion in the country, as well as raise citizens' confidence in the banking sector, which will reflect positively on the national economy in general."
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