Iraq trades more than two trillion dinars electronically in a month, 17 SEPT

  Iraq trades more than two trillion dinars electronically in a month

The Executive Director of the Iraqi Private Banks Association, Ali Tariq, revealed on Sunday the volume of electronic trading in the country during the month of August, confirming that it exceeded two trillion Iraqi dinars.

Tariq told Shafaq News Agency, "The value of electronic trading in the past month of August alone exceeded two trillion Iraqi dinars," indicating that "the amount was transferred and traded using electronic payment systems of various types, whether cards or payment systems."

Tariq pointed out that "the amount reached two trillion dinars for only one month, and this amount will double to more than that in the coming months."

He explained that the number of electronic cards reached 20 million cards, which means that approximately 50% of the Iraqi population own electronic payment cards, and some citizens own two or three cards.

Tariq concluded by saying, “The number of electronic payment devices in the public and private sectors has exceeded 30,000 devices.”

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."  link