CBI promotes the use of payment devices (POS) in accordance with the decision of the Council of Ministers

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The Central Bank of Iraq announces the entry into force of Cabinet Resolution No. (23044) for the year 2023, represented by increasing the number of electronic payment devices (POS), which are used starting from 1/6/2023 in government institutions and the private sector to enhance the culture of electronic payment and collection, and reduce The use of paper money in collection and commercial transactions.

And the Central Bank of Iraq affirms that it has been continuing for years to provide this service in accordance with its powers, and in compliance with the decision of the esteemed Council of Ministers, as it has started since the beginning of this year to expand the scope of work, hold workshops and launch incentive initiatives to implement financial inclusion and enhance the use of electronic payment by citizens in ministries and agencies. And state departments that work with collection and financial collection, such as the Ministry of Interior, Electricity and Oil, the Housing Fund, the Municipality of Baghdad, and the Ministry of Commerce, indicating that each entity that provides its services or has financial collection with citizens directly, will work through electronic payment devices (POS), and for the citizen The right to choose payment in the way that makes it easier for him, revealing at the same time that there are other government institutions and departments that will join the (POS) service during the next few days, in implementation of the aforementioned Cabinet decision.

The Central Bank indicates that there is a great response from the private sector, commercial centers and licensed delivery companies, taxi companies licensed by the competent sectoral authorities and some universities and private hospitals, by providing point-of-sale (POS) devices in their work.

And that this bank has provided the necessary infrastructure and support for the launch of this project in its expanded form, and its continued development according to the best international technologies and specifications in service of the public interest, and facilitating the procedures for electronic cash circulation through bank cards, explaining that the money is transferred electronically from the cards of the beneficiaries of this service to the bank The holder for the account of the billed government entity shall be after the completion of processing and settlement operations in payment systems of high reliability and security, affiliated to the Central Bank of Iraq and in accordance with international best practices.

 

Central Bank of Iraq

Media Office

1/6/2023