AL-SUDANI ISSUES 8 DIRECTIVES TO DEVELOP ELECTRONIC PAYMENT AND ENHANCE DIGITAL TRANSACTIONS IN GOVERNMENT DEPARTMENTS, 13 MARCH

AL-SUDANI ISSUES 8 DIRECTIVES TO DEVELOP ELECTRONIC PAYMENT AND ENHANCE DIGITAL TRANSACTIONS IN GOVERNMENT DEPARTMENTS

Prime Minister Mohammed Shia Al-Sudani issued 8 directives today, Thursday, regarding the development of electronic payment systems and the enhancement of digital transactions in government departments. 

According to a statement from Al-Sudani’s office, the directives were as follows: 

1. Assigning the Baghdad Chamber of Commerce, the Federation of Chambers of Commerce, and the Iraqi Federation of Industries to work on simplifying procedures, in cooperation with the relevant authorities, within a time frame of 6 months to implement the business automation and digital transformation project in these institutions, in a way that accelerates company registration procedures and enhances electronic payment systems.
2.  Facilitating the process of authenticating company contracts, especially simple and medium-sized ones, by issuing a confirmation letter from a notary public, and authenticating those contracts without delay.

3.Study the possibility of allocating a notary public office within the Baghdad Chamber of Commerce to ensure the approval of company incorporation contracts and facilitate the necessary procedures.

4. Obligating the company owner to open a bank account in one of the authorized Iraqi banks, based on official approval from the Baghdad Chamber of Commerce, as this is a basic condition for completing the registration procedures and obtaining the company’s identity and certificate of incorporation.

5. Enhancing the use of electronic transactions and digital payment systems within the new business environment, through coordination with the Central Bank of Iraq, and issuing a circular to all banks to facilitate account opening procedures for small and medium-sized companies.

6. Coordinating with the Central Bank of Iraq to issue a circular to banks to provide banking facilities and financial incentives to companies, including loans, banking facilities, and electronic transfers, enhancing the use of digital payments, and adopting technological financial solutions.

7. Preparing a media campaign to raise awareness of the new procedures, by producing content that explains to citizens and investors the company registration process, the advantages of digital transformation, and the banking opportunities available.

8. Forming a specialized committee from the relevant authorities to follow up on the implementation of these procedures and prepare periodic reports on the progress made in implementing the recommendations.