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The Central Bank of Iraq begins the process of electronic payment to reduce the use of paper money

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The Central Bank of Iraq announced that Cabinet Resolution No. (23044) for the year 2023 has entered into force, represented by increasing the number of electronic payment devices (POS), which are used as of today, the first Thursday of June, in government institutions and the private sector to promote a culture of electronic payment and collection Reducing the use of paper money in collection and commercial transactions.

And the Central Bank of Iraq confirmed, in a statement today, that it has been going 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 the citizen. They are located in the ministries, agencies, and departments of the state 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.