In response to PM's decisions... IPBL announces the development of the E- payment

 
 
Baghdad-INA
 
Iraq Private Banks League- IPBL revealed on Tuesday, the significant development deploy electronic payment tools in state institutions, stressing that E- payment is the most important step towards reforming the economy and reducing corruption.

“Electronic payment is undergoing a significant transformation during the current phase, under the supervision of the Central Bank of Iraq, as it has contributed to provide the infrastructure and technical and advisory support to government institutions ",  said IPBL Executive Director Ali Tariq, in a press release.
 
“The banking sector is currently working to implement the Council of Ministers' decision to activate electronic payment tools in all state institutions” he added.

"The number of government ministries and institutions that have contracted with electronic payment companies is 337 institutions," he said, stating that "sales points have grown by 123% since the decision of the Council of Ministers, so far 10,718 devices, while now 23,906 sales points are distributed to 19696 in shops and private institutions, and 4,210 in ministries and government institutions."

He continued, "The number of financial settlements made through the points of sale amounted to approximately 1.56 million, including 1.15 million for the private sector, and 403.7 thousand movements of government institutions from the beginning of the decision to today."
 
"Electronic payment is the most important step towards economic reform, by promoting the concept of financial inclusion, increasing trust between citizens and the banking sector, which will have a significant impact on increasing deposits and the banking sector's ability to finance strategic projects, and also contribute to reducing corruption and activating e-government through the delivery of remote citizen transactions."