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TNT
Tishwash:
Central: We spend millions of dollars on electronic payment, and Iraqis prefer cash
The Central Bank confirmed, on Monday, March 4, 2024, that Iraqi society prefers to deal with cash, pointing out that millions of dollars are spent annually by the bank on electronic payment.
Iraqis prefer cash in their transactions, while the Central Bank spends millions of dollars on electronic payments
Deputy Governor Ammar Khalaf said in a speech followed by “Ultra Iraq” that “Iraqi society prefers to rely on cash in daily transactions,” noting that “the government’s efforts to support digital transformation, especially in the financial sector and other sectors, gave a strong impetus to the Central Bank during the year.” the past”.
According to experts , the Iraqi government, through attempts to implement electronic payment, aims to withdraw the monetary mass in circulation in Iraq, which amounts to 84 trillion dinars.
Khalaf pointed out that “the Central Bank spends hundreds of millions of dollars annually to develop infrastructure systems to build an important base for the development of electronic payment in Iraq,” explaining that “the digital financial transformation in Iraq began when the salaries of state employees were localized and bank accounts were opened” to use electronic payment .
The Deputy Governor stated that the Ministry of Oil, gas stations, and some ministries “quickly responded to the directives of the Central Bank and the Iraqi government,” in addition to “the Passport Directorate, which required that payment be electronic, and the General Traffic Directorate.”
Ten days ago, the regional president of Visa, in Central and Eastern Europe, the Middle East and Africa, Andrew Torrey, revealed “the company’s readiness to bring expertise, in addition to employing more Iraqis in its office in Baghdad, with the aim of reaching 500,000 acceptance points from points of sale with electronic payment.” in Iraq link
Central Bank: Iraqi society prefers to use cash in daily transactions
3/4/2024 – Baghdad
The Central Bank of Iraq announced today, Monday, the use of the best internationally approved systems and standards in the field of electronic payment, while indicating that it spends hundreds of millions of dollars annually to develop infrastructure systems to build an important base for the development of electronic payment in Iraq.
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Deputy Governor of the Central Bank, Ammar Khalaf, said in a speech at the first Iraqi Digital Economy Forum, “The digital financial transformation in Iraq began with the localization of state employee salaries and the opening of bank accounts, the primary purpose of which is to use electronic payment in daily transactions, whether inside Iraq.” Or outside it.”
Khalaf added, “Iraqi society prefers to rely on cash in daily transactions, but the government’s efforts to support digital transformation, especially in the financial sector and other sectors, gave a strong impetus to the Central Bank over the past year and it continues to encourage and activate electronic payment in Iraq by issuing many Among the laws, controls and instructions that encourage the use of electronic payment in Iraq.
He pointed out that “some ministries responded quickly to the directives of the Central Bank and the Iraqi government, especially the Ministry of Oil by making collections at gas stations and others via electronic payment, as well as the Passports Directorate, which obligated payment to be electronic, in addition to the General Traffic Directorate and other ministries.” Stressing that “all this support gives a very strong and significant impetus to electronic payment.”
He pointed out that “the Central Bank has been the only influential player for many years, as it has embraced the importance of digital transformation in most of its transactions, and spends hundreds of millions of dollars annually to develop infrastructure systems to build an important base for developing electronic payment in Iraq through the use of the best internationally approved systems and standards in this field.” “. LINK
Central Bank: Using the best internationally approved systems and standards in the field of electronic payment
The Central Bank of Iraq announced today, Monday, the use of the best internationally approved systems and standards in the field of electronic payment, while indicating that it spends hundreds of millions of dollars annually to develop infrastructure systems to build an important base for the development of electronic payment in Iraq.
The Deputy Governor of the Central Bank, Ammar Khalaf, said in a speech at the first Iraqi Digital Economy Forum, attended by an Earth News correspondent, that “the digital financial transformation in Iraq began with the localization of the salaries of state employees and the opening of bank accounts, the primary purpose of which was to use electronic payment in daily transactions.” Whether inside or outside Iraq.”
Khalaf added, “Iraqi society prefers to rely on cash in daily transactions, but the government’s efforts to support digital transformation, especially in the financial sector and other sectors, gave a strong impetus to the Central Bank over the past year and it continues to encourage and activate electronic payment in Iraq by issuing many Among the laws, controls and instructions that encourage the use of electronic payment in Iraq.”
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He pointed out that “some ministries responded quickly to the directives of the Central Bank and the Iraqi government, especially the Ministry of Oil by making collections at gas stations and others via electronic payment, as well as the Passports Directorate, which obligated payment to be electronic, in addition to the General Traffic Directorate and other ministries.” He stressed that “all this support gives a very strong impetus to electronic payment.”
He pointed out that “the Central Bank has been the only influencer for many years, as it has embraced the importance of digital transformation in most of its transactions, and spends hundreds of millions of dollars annually to develop infrastructure systems to build an important base for developing electronic payment in Iraq through the use of the best internationally approved systems and standards in this field.” link
Source: Dinar Recaps
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CandyKisses:
Joint with Iraq. Iran looks to create trade zone for access to the Mediterranean Sea
Haidar Hisham
The Secretary of the Supreme Council of Iran’s Supreme Council of Commercial, Industrial and Special Economic Free Zones revealed that he negotiated with 21 countries to establish a joint free zone and reach a conclusion with five countries, including Syria and Iraq.
According to the official IRNA news agency, Hojatullah Abdul Maliki confirmed that Iran seeks to establish a joint free zone with other countries, but also seeks to establish a tripartite joint free zone by negotiating with Iraq and Syria.
He stressed: Through the establishment of a tripartite free zone between Iran, Syria and Iraq, we will witness a great investment leap as we follow this issue.
Abdul Malki pointed out that Iran is currently negotiating with 21 countries to establish a joint free zone, saying: “We have so far reached the stage of signing a document with five countries, which is either in the form of a memorandum of understanding or including the text of the approvals of the Joint Commission.”
He added: “We have spoken with Iraq and Syria for the establishment of a joint free zone, and the negotiating parties have expressed their agreement in this regard, and we are waiting for a tripartite meeting.
The secretary of the Supreme Council of Iran’s Supreme Council of Trade, Industrial Free and Special Economic Zones added: “The area being considered for this purpose is one of the last parts that got rid of I**S, but now security has been established and transit is taking place smoothly.
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The establishment of a common free zone would benefit the three countries and make Iran’s access to the Mediterranean very easy.
Economists urge expanded partnership with Europe
Economy News _ Baghdad
Specialists in economic and financial affairs called for expanding the country’s openness to investments with the European side, especially after the exit of European companies from long-term Russian agreements, indicating that the Prime Minister’s recent visit to the Netherlands represents a gateway to this openness.
Economist Dr. Mustafa Hantoush said in an interview with “Al-Sabah” followed by “Economy News”, that there is a real opportunity for Iraq to partner with Europe, especially since the latter had long partnerships with Russia and U*****e in the field of energy.
He pointed out that Europe is currently isolated due to recent events, noting that it is possible to exploit this partnership as an oil country and cooperate with European companies, especially as they are looking for countries to market their products, including animal products and seeds.
Hantoush pointed out that most countries in Europe are looking for partnerships to market their products, especially with oil countries, and Iraq is one of those countries, as it has huge oil wealth, and the country needs their expertise in the field of livestock and seeds.
For his part, economist Safwan Qusai said that the recent visit of Prime Minister Mohammed Shia al-Sudani to the Netherlands is key to convincing the European investor to partner with Iraq.
He added that the country needs investments from the European side and the exploitation of the Dutch port of Rotten-Dan, which is the largest port in Western Europe and is the gateway to the production of Germany, Britain, Paris and Belgium, and that about 500 million tons of goods are entered through this port annually.
He pointed out that linking the port of Faw with the port of Rotten Down through Turkey, which is a strategic partner for the transport of goods, goods and people, and that the Netherlands for Iraq will be the communication station, and that the European Union has begun looking for the import of alternative goods for gas and oil.
He pointed out that the presence of the Sudanese in the Netherlands is the key to convince the European investor to partner through the giant British insurance companies, pointing to the possibility of transferring part of the German and Italian production lines into Iraq as we have the production capacity.
For his part, Imad al-Fatlawi, who is interested in economic affairs, said that the state’s recent directions to develop a roadmap to activate cooperation with the European side represent an important step on the road to economic integration, pointing out that there are intensive efforts to solve problems and challenges in this aspect, especially in the field of construction, industry and even in the aspect of agriculture and livestock.
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Source: Dinar Recaps
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