Baghdad – WAA – Nassar Al-Hajj
Financial and banking researcher Mustafa Akram Hantoush revealed today, Sunday, that the volume of digital trading has increased to 18 trillion dinars and the number of cards to 20 million cards, while explaining the economic gains.
Hantoush told the (INA): “Electronic payment has achieved very great accomplishments, and it is a very successful experience in the financial and banking aspect and is beneficial to all parties.”
He added, “Cash dealings involve risks, as money can be stolen or burned while being transferred or stored, or lost, while electronic dealings and digital trading facilitate the process of transferring and trading money, and are useful for the state to have a reading of liquidity, collect money, and read payments and profitable and losing sectors, through which plans can be adopted.”
He added, “Electronic payment is a successful topic by all standards, and the countries that apply it are witnessing development in the financial and banking system.”
Regarding the achieved figures, Hantoush explained that “the total electronic payment by 2020 did not exceed 300 billion dinars compared to electronic payment for the current year, which reached more than 18 trillion dinars. This is a huge leap that is not easy to achieve within 3-4 years.”
He stated that “there are about 20 million electronic payment cards so far, after we had about 10 million cards in 2020,” explaining that “the indicators of the issue are positive and it is successful from all aspects.”
He stated that “the government, with its recent decisions and specialized committees on electronic payment, has reached the levels of detailed statements, liquidity statements, risk assessment, and even the subject of systems and directing electronic signatures,” explaining that “the subject of electronic payment has become in line with society.”
He stressed that “the government recently issued a set of decisions related to regulatory cases, including activating a special law on electronic signatures, and creating a special financial regulation for electronic payment between the Integrity Commission and the Audit Bureau,” explaining that “the issue has moved from the stage of implementation procedures to the stage of general regulation.”