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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

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Government efforts to end cash dealing and economic fear of corruption operations through electronic

    Rocky
    Rocky
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    electronic - Government efforts to end cash dealing and economic fear of corruption operations through electronic Empty Government efforts to end cash dealing and economic fear of corruption operations through electronic

    Post by Rocky Mon 15 Jan 2024, 4:38 am

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    [size=52]Government efforts to end cash dealing and economic fear of corruption operations through electronic payment[/size]

    [size=45]Baghdad/ Ayoub Saad[/size]
    [size=45]The Iraqi government is seeking to end cash dealing during the current year, and move completely to electronic payment operations, but many obstacles prevent it from achieving it, and specialists confirm that it will not end corruption and fraud operations.[/size]
    [size=45]According to the Petroleum Products Distribution Company, sales through the use of electronic cards recorded 35 million dinars last April, while in October of last year they recorded more than 350 million dinars.[/size]
    [size=45]Economic expert Abdul Salam Hassan said, in an interview with Al Mada, that “the issue of corruption and eliminating it through the electronic payment system is something that is impossible to achieve in Iraq,” noting that “the appointment of officials and managers is not done through an academic degree, but through parties and relationships.” .[/size]
    [size=45]He adds, “The electronic payment system will contribute to increasing cash deposits in banks.”[/size]
    [size=45]On January 7, Prime Minister Muhammad Shiaa Al-Sudani directed that citizens avoid additional financial burdens as a result of commissions, during a meeting devoted to following up on the financial and economic transition to electronic payment, points of sale, and financial trading with electronic cards.[/size]
    [size=45]Economists confirm that the electronic payment infrastructure is not at a level that allows switching from cash to electronic payment, suggesting that the decision will cause a fuel crisis in the country if the Ministry of Oil insists on its strict implementation.[/size]
    [size=45]For his part, the Director General of the Oil Products Distribution Company, Hussein Talib, said during an interview with (Al Mada), that “cash dealing will be completely ended at the end of the first quarter of this year and we will move to electronic payment.”[/size]
    [size=45]He added, “The electronic payment system is a global process that does not include citizen fraud.”[/size]
    [size=45]He continues, “There are distributors in the outlets who are responsible for teaching citizens how to use the electronic payment method, and it is easy and not that complicated.”[/size]
    [size=45]It is noteworthy that most public places, markets, and gas filling stations lack POS devices, despite government directions to implement the electronic payment system in state institutions, the private sector, commercial centers, and other entertainment facilities.[/size]
    [size=45]At the beginning of last June, the Central Bank of Iraq announced that Council of Ministers Resolution No. (23044) for the year 2023 had entered into force, which was to increase the number of electronic payment devices (pos) 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.[/size]
    [size=45]It is noteworthy that the Board of Directors of the Central Bank of Iraq decided, on December 13, to establish the “National Company for Electronic Payment Systems” throughout the country, indicating that the company represents a qualitative development in the structure of the country’s financial infrastructure.[/size]
    [size=45]According to the Iraqi Central Bank statement, this step coincides with the rapid growth in electronic financial services and products and the rise in the number of users in accordance with the framework of the government program to support and adopt advanced electronic payment systems.[/size]
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      Current date/time is Thu 13 Jun 2024, 4:05 pm