TNT
Tishwash:
Electronic payment is key to the success of monetary and fiscal policy
The Iraqi government decided earlier to oblige all its institutions, in addition to private schools and universities, gas stations, stores, restaurants, pharmacies, medical clinics, and others, to use electronic payment tools, and gave them a full transition to that trend by the beginning of this June.
On evaluating the step of launching the Central Bank’s electronic dealing service to reduce cash dealing, and what are its pros and cons, journalist Halim Salman told “ Jarida ” that Iraq is moving towards using electronic payment tools to reform the economy, withdraw cash in homes towards the banking sector, and combat financial and administrative c********n within Government institutions, pointing out that governance in government services is very necessary, because it will reduce time and increase the efficiency of institutions.
And between Salman, there are great benefits to electronic payment, including activating electronic commerce and eliminating problems related to electronic payment, in addition to reducing financial and administrative c********n in government departments and others.
In his response to assessing the reality of the banking sector in Iraq and what are the challenges it faces, and whether it has the ability to receive this new service, Salman replied that the biggest challenge facing banks is the customer’s loss of (confidence) in these banks, which leads to hoarding of financial mass in homes Consequently, it will lead to disabling the banking system from investing it in supporting productive projects that contribute to the continuation of the money cycle.
He pointed out, “Banks must face these challenges by increasing production, improving business and reputation, and providing banking goods to customers to restore confidence.
And he also indicated, “The dissemination of electronic payment and the contribution of banks to it will work to create a stable environment of financial transactions that guarantees a high flow in preserving money, as well as tightening the screws on currency dealers and money laundering.” link
Advertisement
______________________________________________________
Source: Dinar Recaps
______________________________________________________
If you wish to contact the author of a post, you can send us an email at voyagesoflight@gmail.com and we’ll forward your request to the author (if available). If you have any questions about a post or the website, you may also forward your questions and concerns to the same email address.
______________________________________________________
All articles, videos, and images posted on Dinar Chronicles were submitted by readers and/or handpicked by the site itself for informational and/or entertainment purposes.
Dinar Chronicles is not a registered investment adviser, broker dealer, banker or currency dealer and as such, no information on the website should be construed as investment advice. We do not support, represent or guarantee the completeness, truthfulness, accuracy, or reliability of any content or communications posted on this site. Information posted on this site may or may not be fictitious. We do not intend to and are not providing financial, legal, tax, political or any other advice to readers of this website.
Copyright © Dinar Chronicles
