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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


    Statistics on internal and external electronic payments in Iraq

    Rocky
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    • Post n°1

    Statistics on internal and external electronic payments in Iraq Empty Statistics on internal and external electronic payments in Iraq

    Post by Rocky Sat 30 Nov 2024, 4:26 am

    Posted on[You must be registered and logged in to see this link.] by [You must be registered and logged in to see this link.]

    [size=52]Statistics on internal and external electronic payments in Iraq[/size]

    [size=45]The head of the “Iraq Al-Mustaqbal” Foundation for Economic Studies and Consultations, Manar Al-Obaidi, revealed today, Friday, that the total internal and external electronic payments will reach between 30 and 40 trillion dinars.[/size]
    [size=45]Al-Obaidi said in a blog post that electronic payments, according to the Central Bank’s data, have increased in 2024 and are expected to reach 21 trillion dinars in local electronic transactions, and the volume of external electronic transactions for Iraqi cards is expected to reach between 15 and 20 trillion annually in 2024, noting that the total internal and external electronic payments will reach between 30 and 40 trillion dinars.[/size]
    [size=45]On the other hand, there is a decrease in the volume of current deposits from 107 trillion at the end of 2023 to 102 trillion in 2024, and there is a decrease in the volume of private sector deposits (including citizens) from 56.55 trillion dinars in 2023 to 56.17 trillion in 2024, according to Al-Obaidi.[/size]
    [size=45]It shows that the value of cash in the banking sector amounted to 8.1 dinars for every 100 dinars issued in 2024 only, compared to 6.75 dinars for every 100 dinars issued in 2023.[/size]
    [size=45]He asks, “If all electronic payment incentives were unable to increase the volume of current and private deposits in the banking sector and were unable to significantly increase the cash flow within the banking sector, what is the benefit of electronic payments? And why, despite the increase in payments, has the citizen’s confidence in the banking sector not increased and why is he still depositing in his bank account what covers electronic payments that he cannot pay exclusively in cash, specifically government ones? Is there a need to increase the mechanisms for stimulating electronic payment to increase electronic transactions or is it necessary to work on increasing confidence in the banking sector, and then electronic payment will be one of the outcomes of increasing this confidence??[/size]
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