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Government Communication to {Sabah}: Electronic payment contributes to strengthening the economy
Economic 12/03/2024
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According to the confirmation of the government outreach team, and amidst the continuous support of Prime Minister Mohammed Shia al-Sudani.
Economic benefits
According to the head of the government outreach team, Ammar Munim, to "Al-Sabah", "the government support for electronic payment comes from Prime Minister Mohammed Shia al-Sudani's belief in the economic benefits it brings to the national economy, revitalizing it and pushing it forward."
Munim explained that "the local market must adopt advanced financial transactions that make money paths clear, transparent and secure, and in this direction there are great benefits for the national economy and achieving revenues."
Government decisions
As for the Executive Director of the Association of Private Banks, Ali Tariq, he told "Al-Sabah": "The development witnessed by Iraq in the electronic payment joint comes thanks to the government's understanding of the reality of electronic payment in financial performance, as government decisions had a great and influential echo in expanding the circle of its adoption." He pointed out that "today there are about 800 government institutions that adopt electronic payment, as government instructions obligated its adoption with zero fees."
Financial movements
He pointed out that "electronic payment works to achieve results that serve the national economy, as it reduces the rates of financial corruption and avoids dealing with counterfeit currencies, in addition to documenting financial movements and making them safer."
Confident Steps
In turn, the director of the national awareness campaign to spread the culture of electronic payment "Esreflak" Ahmed Adel said: "The campaign is continuing with confident steps and in the field to reach the largest segment within Iraqi society and inform them of the importance of electronic payment, as we work to organize direct events within human gatherings."
He pointed out that "there are challenges facing the campaign and its movement, but cooperation with the relevant authorities enabled the campaign management to overcome them and it became possible to be present in public places and reach all segments of society.
Financial transformation
As for the economic expert and consultant Alaa Fahd, he said: "The culture of electronic payment in Iraq is a recent spread as a result of the progress in global financial systems and the need for financial development of the engines of digital financial transformation, and this transformation requires changing the culture and belief of society, especially the simple popular classes who fear any financial procedure away from cash."
He pointed out that "this requires awareness media campaigns that promote this culture and market it to everyone, including the (Spend for You) campaign that was launched at the beginning of the digital transformation in Egypt, and was recently launched in Iraq as part of the first national campaign forum to spread culture," indicating that the campaign clarifies "the importance of electronic financial transformation."
Financial security
Fahd continued: "There is a gradual change in the culture of electronic payment with the government's orientation towards this transformation and providing all facilities and facing all challenges in order to spread the culture and believe in it from the standpoint of benefit, as it is (Spend for You) in terms of financial security, eliminating corruption, saving time and effort, ease of carrying, and getting rid of counterfeiters Damaged and stolen items and other benefits provided by financial transformation, this requires doubling efforts to achieve full success.”
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