Baghdad – IA – Wissam Al-Mulla
The Association of Private Banks confirmed today, Tuesday, that the number of government institutions relying on electronic payments has increased to 600.
The Executive Director of the Association of Private Banks, Ali Tariq, said in a statement to the (INA): “The government decisions binding government institutions and many private institutions to provide an electronic payment window – which began to be implemented in March 2023 – have brought about a tangible change in the use of this system in Iraq.” .
He added, “The infrastructure was ready with support from the Central Bank of Iraq, with prior instructions and great cooperation between banks and electronic payment companies.”
He pointed out that “government support contributed to accelerating the spread of electronic payment, as we witnessed during the past year and a half a significant increase in the number of cards issued, as their number reached 20 million cards, of which 2 million cards were issued during the last year, and the number of electronic payment devices also increased to More than 30 thousand devices, and this number is expected to double by the beginning of next year.”
Tariq explained, “The number of government institutions that have adopted the electronic payment system exceeded 600 institutions, after it was only about 50 institutions, which led to a significant increase in the volume of trading,” noting that “this system brings many benefits to citizens, projects, and the government, as it provides Security, speed, and low costs compared to transporting money and exposing it to damage, theft, or counterfeiting.”
He stressed, “The next stage will witness a greater expansion in the use of electronic cards and an increase in electronic payment operations, with the primary goal of providing an easy and inexpensive service to the Iraqi citizen, whether in government or private institutions.”