[size=33]Following Al-Sudani’s directives, the Association of Private Banks marks “major development” using electronic payment tools[/size]Today, 12:43
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Al-Ghad Press / Baghdad
Today, Tuesday, the Iraqi Private Banks Association revealed the significant development in the use of electronic payment tools, while confirming that it is the most important step towards reforming the economy and reducing corruption.
The Executive Director of the Iraqi Private Banks Association, Ali Tariq, said in a statement received by Al-Ghad Press: “Electronic payment is witnessing a major transformation during the current stage, under the supervision of the Central Bank of Iraq, which has contributed to providing infrastructure and technical and advisory support to government institutions.” Pointing out that "the directives of Prime Minister Muhammad Shiaa Al-Sudani contributed to strengthening the concept of electronic payment by disseminating it within government institutions, in addition to the intensive advertising campaigns launched by the Central Bank and the Association of Private Banks."
Tariq pointed out that “the number of ministries and government institutions that have contracted with electronic payment companies and published points of sale is 337 institutions,” indicating that “points of sale have grown by 123% since the decision of the Council of Ministers, and until now, when they were 10,718 devices, while now, 23,906 points.” Sales were distributed to 19,696 in stores and private institutions, and 4,210 in ministries and government institutions.”
He stressed that "the number of financial settlements that took place through points of sale amounted to about 1.56 million transactions, including 1.15 million transactions for the private sector, and 403.7 thousand transactions for government institutions since the decision began until today."
He added, "Electronic payment is the most important step towards reforming the economy, by enhancing the concept of financial inclusion and increasing trust between citizens and the banking sector, which will have a significant impact on increasing deposits and the ability of the banking sector to finance strategic projects. It will also contribute to reducing corruption and activating electronic government through... Completing citizens’ transactions remotely.
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