Al-Sudani directs to take new measures regarding the electronic payment system in Iraq, 3 MAY

 Al-Sudani directs to take new measures regarding the electronic payment system in Iraq, 2 MAY

Shafaq News/ A government source said, today, Thursday, that Prime Minister Muhammad Shiaa Al-Sudani directed several executive measures related to the electronic payment system and electronic points of sale (POS).

According to the source in his statement to Shafaq News Agency, this directive aims to enhance the use of electronic payment in Iraq and facilitate and monitor financial and commercial operations carried out through this system.

The source summarized the most important main measures that Al-Sudani directed, which are as follows:

1- Determine the tax wages that can be paid in cash in the amount of (500 thousand dinars) and what is more than that is settled via electronic payment.

2- Forming a joint committee between the Central Bank of Iraq, the Communications and Media Commission, and representatives of the private sector who are specialists in this field, which will do the following:

A- Proposing mechanisms to reduce fees for telephone messages related to electronic payment operations.

B- Coordination with the National Cybersecurity Committee and providing it with the risks that it indicates for the purpose of addressing them by the relevant sectoral authorities.

3- Instructing the competent authorities, including the General Directorate of Organized Crime in the Ministry of Interior and the National Security Service, to take their role regarding the observed violations and fraudulent operations regarding electronic payment operations.

4- Instructing the concerned authorities not to renew the license of educational and medical institutions, hotels, restaurants, and all other professions except after presenting the contract for using electronic payment to those authorities.

5- Assigning the Central Bank of Iraq to set specific standards to be used in government departments and institutions to activate electronic payment operations. Through those standards, the Federal Integrity Commission can monitor and measure the work of government departments in a manner consistent with those standards, and is accompanied by organizing training workshops on those standards between the Integrity Commission and the bank. Iraqi Central Bank.

6- Instructing the relevant authorities, including government institutions, private sector institutions, and banks, to increase the number of electronic payment devices and other self-services, which contributes to the development of electronic payment services in the country.

7- Assigning the Central Bank to formulate a proposal with the minimum requirements that are available in contracts for electronic wallets.

9- Forming a joint work team between the General Authority for Taxes, the National Security Service, and the Ministry of Interior/General Directorate for ombating Organized Crime, which will undertake the task of conducting inspection tours of various commercial areas to ensure the provision of trade names, tax identification, and electronic payment points.

In October 2023, the Iraqi Council of Ministers issued several executive measures related to the electronic payment system and electronic points of sale (POS), and said at the time in a statement that they “aim to enhance the use of electronic payment in Iraq and facilitate financial and commercial operations.”

shafaq.com