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[size=36]7 real gains achieved after the entry into force of electronic payment[/size]
economy | 10:00 - 09/09/2024
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Mawazine News - Baghdad
The Parliamentary Finance Committee confirmed, on Monday, the achievement of 7 major gains after the entry into force of electronic payment, and while it indicated that it was adopted to prevent money smuggling and laundering outside Iraq, it recommended its generalization in all financial transactions.
Committee member Mustafa Al-Karaawi said: "There are many gains achieved from the introduction of the electronic payment experiment into force, including reducing the circulation of paper currency and thus reducing the costs incurred by printing banknotes and replacing damaged ones, as well as supporting balances in the accounts of private and government banks, as well as investing in supporting the private and commercial sector and loans, in addition to controlling money more broadly and preventing its smuggling and laundering outside Iraq."
He added, "This also led to controlling the cash mass and not being in the homes of the people but in the banks; in order to invest it and recycle it in the economic process," suggesting, "generalizing electronic payment in all financial transactions in Iraq."
Al-Karaawi suggested encouraging more citizens to use electronic payment by providing incentives and discounts to everyone who uses electronic payment so that there is a real transformation and a desire from citizens to go to it and thus achieve the public interest."
Committee member Mustafa Al-Karaawi said: "There are many gains achieved from the introduction of the electronic payment experiment into force, including reducing the circulation of paper currency and thus reducing the costs incurred by printing banknotes and replacing damaged ones, as well as supporting balances in the accounts of private and government banks, as well as investing in supporting the private and commercial sector and loans, in addition to controlling money more broadly and preventing its smuggling and laundering outside Iraq."
He added, "This also led to controlling the cash mass and not being in the homes of the people but in the banks; in order to invest it and recycle it in the economic process," suggesting, "generalizing electronic payment in all financial transactions in Iraq."
Al-Karaawi suggested encouraging more citizens to use electronic payment by providing incentives and discounts to everyone who uses electronic payment so that there is a real transformation and a desire from citizens to go to it and thus achieve the public interest."
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