Baghdad – conscious
Today, Tuesday, Advisor to the Prime Minister, Mazhar Muhammad Saleh, revealed fundamental developments related to electronic payment, and while he confirmed that the number of accounts linked to payment had risen to 15 million, he pointed to a government plan to raise their number to 25 million by the end of next year.
Saleh told the (INA): “Fundamental developments have occurred regarding the electronic payment file, including the requirements for the process that requires opening a bank account, as the number of adults who own accounts has increased to about 15 million citizens, representing 60 percent of adults as a result of the demand.” Increasing.
He pointed out that “the state’s plan includes reaching approximately 25 million adult citizens in the number of bank accounts by the end of the year 2025,” noting that “this issue achieves the principle of financial inclusion (i.e. providing and extending banking services to the poorest social segments and introducing them into the core of the financial process.”) for the country).
He explained, “The fundamental developments included improving the principle of direct electronic government collection, which flows into the unified treasury account and in a continuous process around the clock, which strengthens public financial governance and enhances the state’s resources by investing time in the financial resources flowing to the public treasury without delay.”
He continued, “Banking liquidity will be available in a transparent manner in the banking system, which will reduce the element of liquidity risks and unjustified banking financial hedging due to the lack of information about the flow of credit and debit funds, in addition to the expansion of the electronic payment circle that will provide customers through their banks with lines of credit or overdrafts and on… According to the customer’s credit record, this provides the necessary funds with additional limits for holders of credit cards and other digital payment methods.”
He pointed out that “all the benefits resulting from digital payments are only available through payment with electronic payment cards.”