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Oil announces an increase in the rate of electronic trading
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Economy News - Baghdad
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Economy News - Baghdad
The Ministry of Oil announced, on Wednesday, that the rate of electronic trading had increased by 25 percent in one month, while confirming that the electronic payment experience was not limited to fuel filling stations only.
Ministry spokesman Assem Jihad said, in a statement reported by the official news agency and seen by Al-Iqtisad News, that “the Ministry of Oil was at the forefront of the ministries that relied on the electronic payment system in its sectors, especially the distribution sector, which is witnessing great activity in this field.”
He pointed out, "The Ministry is keen to adopt the electronic payment experience in cooperation with the Central Bank and banks," noting that "it has overcome many challenges and circumstances within a short period of time, despite the novelty of the experience."
He added, "There is a determination to ensure the success of the experiment prepared by the government within the government program in support of the national economy," indicating "the Ministry's keenness to expedite taking measures and steps to implement it, despite the presence of challenges outside the Ministry's control, including those related to banks, the communication process, and traffic." "Money."
He pointed out that "the success of implementing the electronic payment experience witnesses an increase in the rates of electronic dealing or trading of funds, as the trading volume during the past month rose to more than 550 billion dinars, with a trading rate of more than 25 percent."
He continued, "The Ministry is working to expand the experiment and circulate it to all distribution outlets," stressing that "the experiment was not limited to fuel filling stations only, but rather in all financial dealings with the concerned authorities, whether the private sector or otherwise."
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