The Value Of Electronic Payment Exceeded 9 Trillion Dinars During 2023, 26 FEB

 The Value Of Electronic Payment Exceeded 9 Trillion Dinars During 2023

Economical 02/25/2024   Baghdad: Hussein Thaghb  There is a consensus from the public and private sectors on the necessity of regulating the reality of electronic collection in Iraq after the local market witnessed great interaction using electronic payment and the value of use increased remarkably in 2023 to exceed 9 trillion and 661 billion dinars through financial movements exceeding 15 million transactions.

Participants in the workshop on enhancing electronic government collection, organized by the Iraqi Private Banks Association with the support of the Prime Minister’s Office and sponsored by the Central Bank of Iraq,

described electronic payment as an important new stage that guarantees the paths of funds and makes them more transparent, but it is not without challenges that can be overcome in cooperation with the Central Bank and specialized companies.

Governor of the Central Bank of Iraq Dr. Ali Al-Alaq said:

The successes achieved in the field of electronic payment stem from the great support given by Prime Minister Muhammad Shiaa Al-Sudani to this important project.

We also value the efforts of the ministries that interacted with this project and gave it priority, pointing out that the launch of electronic collection comes as a translation of the Central Bank’s objectives in Adopting advanced technologies in electronic payment. 

Al-Alaq stressed that electronic collection contributes to strengthening government financial resources and operates in a transparent environment in light of the components provided by the Central Bank.

The project targets ministries and non-governmental institutions at the same time, and the citizen can now pay from anywhere and this is for the optimal use of cash.

Director General of Payments at the Central Bank, Adnan Asaad, indicated that the decisions of the Council of Ministers had a positive impact on activating electronic collection, especially in the second half of 2023, pointing out that the total collection from gas stations exceeded 10 billion dinars, and the number is expanding, as is the number of employee cards.

In localization services as of June 2023, it amounted to 8,653,310, and the total electronic collection through electronic payment gateways in the year 2023 exceeded 108 trillion through financial transactions exceeding one million transactions. 

Asaad pointed out that the commissions charged to citizens in electronic payments are “zero” and in the public and private sectors, and this issue requires expanding the citizen’s culture, and here is the responsibility of all concerned institutions.

Executive Director of the Association of Private Banks, Ali Tariq, said:

The workshop brought together most of the state institutions and the private sector with a large and qualitative presence that witnessed identifying all the problems facing the ministries in this important project, and working to solve them through coordination with the companies and institutions concerned.

Tariq stressed that the great cooperation shown by the team of the Central Bank of Iraq and specialized companies with the presence of the Association of Banks achieves smooth work and contains all the problems or challenges facing some institutions, pointing out the presence of financial expertise capable of mastering advanced technology and employing it in the correct manner, and that the training carried out in We have begun to see positive results in this aspect,

and we now have a developed work team in Iraq, where the Association has prepared continuous training programs for several years that enable human resources to use advanced technology.

As for the representative of the International Smart Card Company, Ghazi Al-Kanani, he pointed out that the reality of electronic payment has begun to expand significantly, and the citizen has begun to interact greatly with the electronic services that are provided, and this came after the citizen felt the positives provided by this project, pointing out that electronic payment was established with the aim of providing The best services and mechanisms that facilitated his daily life.

He stated that  electronic collection will follow the collected funds to their legal destination without tampering, and will enhance the federal budget with large revenues, pointing out that Iraq is facing a new phase that preserves the funds’ paths and takes their destination to the appropriate place.

As for Traffic Major General Adel Al-Araji, he said:

Electronic collection is a new experience and has faced several challenges due to the ramifications of revenues and the lack of educational campaigns.

 He pointed out that there are committees in the General Traffic Directorate that supervise electronic payment operations, noting that collection in the Karbala Traffic Directorate reached 100% and in Basra 60%. He emphasized the work to allocate one day each week for electronic payment, as  we have platforms that work exclusively on electronic payment.

As for the representative of the Ministry of Oil, Yasser Ammar, he confirmed that the Ministry had circulated the electronic collection experience from the first quarter of 2023.

There were challenges to completing the work, but we worked to overcome them, pointing out that  all 350 government stations operate with electronic payment.

As for the representative of the Minister of the Interior, he confirmed that the Minister of the Interior directed the adoption of electronic payment and that collection and collection be electronic from May 1, 2024, pointing out that

there are challenges that are being addressed in cooperation with the concerned authorities, and that the  Ministry believes in developing the performance of electronic payment and what rises to global performance.    https://alsabaah.iq/92335-.html