economy| 02:40 – 21/01/2023
Baghdad – Mawazine News
The Central Bank of Iraq confirmed on Saturday that the use of electronic payment tools will be circulated in the public and private sectors in a binding manner.
The bank’s deputy governor, Ammar Hamad Khalaf, said that “the decision of the Council of Ministers to activate electronic payment in all joints aims to reduce the use of cash and increase the handling of funds electronically through the use of cards, which is an important complement to the salary localization project, which began to be implemented several years ago.”
He added that “the decision will enable the bank to implement a mechanism that enables employees to receive their salaries through payment cards currently used as MasterCard and fill in their bank balance without having to receive cash money.”
He added that “the Central Bank will intensify its efforts to increase the use of payment cards in markets and shops and the decision of the Council of Ministers will oblige government institutions and all spending units in the public and private sectors to find electronic payment machines in their transactions.”
Khalaf pointed out in an interview with the official news agency and followed by Mawazine News, that “payment via electronic devices will reduce cash circulation, which is better in terms of saving money and safer than transferring them.” Finished 29/n33
One thought on “Central Bank: The decision to activate electronic payment includes the public and private sectors”
I can see why the cbi is pushing mastercard. Who wants to use 3300 dinar to buy a 2 dollar loaf of bread! Ridiculous! RV so the citizens can use their own currency!