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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

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    Electronic payment in Iraq: huge profits for companies at the expense of citizens

    Rocky
    Rocky
    Rocky
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    • Post n°1

    Electronic payment in Iraq: huge profits for companies at the expense of citizens Empty Electronic payment in Iraq: huge profits for companies at the expense of citizens

    Post by Rocky Sat Jun 15, 2024 7:39 am

    [size=38]Electronic payment in Iraq: huge profits for companies at the expense of citizens[/size]


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    June 15, 2024[You must be registered and logged in to see this link.]
    Baghdad/Al-Masala Al-Hadath: Citizens in Iraq complained about the procedures of electronic defense companies to deduct percentages from their financial dues.
    Citizens believe that companies deduct money from them and also from the government at the same time, under various justifications, while financial analysts consider that electronic payment may be a gateway to corruption if the work of these companies is not monitored.
    Companies take advantage of the simplicity of citizens who are not aware of their procedures and cut off their money under various pretexts.
    Companies make huge profits by exploiting citizens.
    For example, electronic payment companies sell the dollar to citizens at a higher price than the official price.
    Electronic payment companies often suffer from problems that lead to disruption among beneficiaries.
    To solve this problem, citizens are putting forward on social media a proposal to issue a free government electronic card for citizens, and the government should be the company responsible for providing this service instead of delegating it to private companies.
    When the citizen obtains the electronic card, an amount is paid at the beginning of the procedures for issuing it, and when dealing with the card, the company, the outlet, and the ATM collect money from the beneficiary. Thus, the citizen is paid three times.
    There are no specific official reports that address the issue of electronic payment companies deducting percentages from citizens’ dues.
    Financial analyst Ali Al-Zubaidi calls for monitoring companies to ensure that citizens are not exploited, educating citizens about procedures related to electronic payment and how to protect themselves from exploitation, and legislating laws that protect citizens’ rights in electronic financial transactions.
    With these procedures,
    So far, the Central Bank of Iraq has granted licenses to 17 electronic payment companies, in addition to two private electronic banks, as well as other companies that use the wallet.
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