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Central: We aim to complete all financial transactions electronically

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Central: We aim to complete all financial transactions electronically

09/1/2018 12:00 am

After you complete the retail payment system infrastructure

Baghdad / Hussein Thugb

The Central Bank of Iraq for the coming period to make all financial transactions through the banking system and through electronic systems developed by the Central Bank in the field of payments, which contribute to make the monetary mass an active player in the process of sustainable development Director General of Payments Department at the Central Bank of Iraq, said:

"The central bank's goal for the next phase is to complete all financial operations in the country for the public and private sectors through the banking sector."

She pointed out that "these operations are not through the deployment of equipment allocated in All the places or the issuance of special cards and withdraw the money through,

but the integration of electronic cooperation is done when transactions are in the public and private sectors through electronic cards and thus this step is complementary to the process of settling salaries and financial operations are carried out through the banking system.

Dealing with cash

She pointed out that the introduction of the private sector owner to a large block of cash to electronic transactions requires special products dealing with their trade and their needs for cash and be more flexible than dealing with cash, and here requires the introduction in the official channels of electronic transactions away from the complexity.

To make all private sector institutions within the settlement of salaries, pointing out that this requires the cooperation of public institutions such as taxes and departments Ministry of Commerce".


"In view of the evolution of the Iraqi payment system, the launch of the salary settlement project, the remarkable progress in increasing the number of bank accounts and the completion of the retail payment infrastructure, which is one of the cornerstones of the improvement of the working environment, the aim is to attract deposits and manage remittances by banks On all levels (personal and commercial) and that all parties within the system and maintain the cycle of cash through the banking system and away from the circulation of cash "and drew Abdul Karim that

"the opportunity to take advantage of people of interest and crafts to register Kia From the shops, shops, markets and workshops in the Registrar of Companies or any competent authority under the condition of the tax number and bank account is impossible if it is not accompanied by decisions to encourage, motivate and facilitate the formal procedures of registration to prevent manipulation and corruption at the same time through cooperation between all the regulatory, security and municipal So that all these entities have a business number / record, a tax number and a bank account."

Electronic wallet

Director of a specialized company Yazin al-Tamimi said: "The partnership works to provide electronic wallet services through its network, and the subscriber can pay bills, transfer money, buy electronic cards and more services,"

pointing out that the operations of deposit and withdrawal through thousands of approved centers deployed In all governorates and cities of Iraq, where our centers cover cities, rural areas and remote villages."

The citizen can register in the electronic wallet with high speed, he can register in the temporary portfolio by logging into a specific application, Days only.

You can register in the permanent wallet by going to the nearest authorized agent and submitting the required documents the civil status ID and the housing card.

Culture of dealing

He pointed out that the main objective of the localization of salaries is to promote a culture of dealing with the banking system, and that the salaries of employees guaranteed, because the banks dealt with by the Central Bank can be described as Almsrinp,

"pointing out that" the central bank is the guarantor of salaries of employees, Iraq, which will block any terrorist operations or suspicious of the occurrence."

"Unpaid salaries increase the cash flow of banks and may be used as development loans and thus the salaries of state employees will become a source of economic growth," he said.

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