By John Lee. The Central Bank of Iraq (CBI) has decided to establish the "National Company for Electronic Payment Systems in Iraq," marking a qualitative development in the country's financial infrastructure. The new company will be responsible for efficiently developing, operating, and managing national electronic payment and settlement systems, introducing new elements to enhance the
By John Lee. The Iraqi Ministry of Oil and its subsidiary, the Oil Products Distribution Company, have decided to implement electronic payment systems at all fuel stations starting January 1, 2024. The Ministry says it will also suspend cash handling from this date, adding that this move aligns with government guidelines to enhance efficiency, automate
By John Lee. Iraqi Prime Minister, Mohammed Shia al-Sudani, led a meeting on Tuesday to monitor the progress of banking reforms. The session, attended by the Finance Minister, Governor of the Central Bank of Iraq (CBI), and directors of government banks, focused on administrative and banking reforms initiated by the government as part of comprehensive
By John Lee. Iraq's Prime Minister, Mr. Mohamed Shiaa Al-Sudani, led a meeting on Sunday to discuss the completion of the Unified Treasury Account and monitor the electronic payment system, including electronic card payments (POS). The meeting included the Finance Minister, Central Bank Governor, the head of the Federal Financial Control Bureau, advisors, and directors
By John Lee. Prime Minister Mohammed Shiaa Al-Sudani has led a meeting to discuss and monitor progress on the implementation of the Unified Treasury Account. The meeting also focused on the continued rollout of electronic payment points (POS) and explored potential incentives for citizens to encourage electronic payments. During the meeting, comprehensive updates were presented