A government source told Al-Eqtisad News: The Government Has Taken Major Steps To Promote Electronic Payments And Financial Inclusion, Achieving Qualitative Leaps In 2025.
Money and Business Economy News – Baghdad A government source revealed the steps taken by the Iraqi government to develop and promote electronic payments, noting that since the Iraqi government assumed office more than two and a half years ago, the importance of a strong and efficient banking system has become clear to it.
The development of electronic payments and increased financial inclusion in the country are among its most prominent features.
The government and the Prime Minister have considered this goal a top priority, as it is a key objective in the strategies of countries around the world, given its close connection to economic stability and growth.
The source added to Al-Eqtisad News that the Iraqi government has taken a series of decisions and measures through the Council of Ministers and the Ministerial Council for the Economy, in addition to the committees emanating from them, which include representatives from the government, the Central Bank, and the private sector, to monitor this aspect.
These committees include the Electronic Payment Performance Monitoring Committee, the Electronic Payment and Financial Inclusion Stimulation Committee, the Digital Transformation Committee, and the Digital Transformation and Electronic Payment Process Evaluation Committee in Iraqi Ministries and Government Institutions.
He explained that Prime Minister Mohammed Shia Al-Sudani had previously issued a set of decisions and directives based on reports received from these committees, which led to significant progress in several indicators in this field during 2025, as:
– The percentage of digital transformation of Iraqi ministries and institutions rose to about 32%, after it was less than 18% in 2022, with a growth rate of
It reached 78%.
The number of bank accounts reached approximately 20 million, compared to 8 million in 2022, a growth exceeding 150%.
The number of bank cards also increased to 21-22 million cards (of all types, including credit, debit, and prepaid), up from 16 million cards in 2022, representing a growth rate of 38%.
The number of point-of-sale (POS) devices reached approximately 62,000, up from less than 10,000 in 2022, a growth of 520%.
The number of ATMs reached approximately 7,531, up from approximately 2,223 in 2022, a growth rate of 239%.
Total electronic payments reached approximately 1.37 trillion dinars in May 2025, compared to less than 90 billion dinars at the end of 2022, with a growth rate of 1,400%.
Data indicates that financial inclusion in Iraq has reached approximately 40%, up from less than 10% in 2019.
The source revealed that “the Prime Minister recently issued a number of future decisions related to a number of important projects in the field of electronic payments, stressing the need to complete them as soon as possible. These projects include:
– Activation of the local card, which is expected to be completed by the end of 2025.
– Activate the fast payment project.
– Activating the unified electronic collection application.
– Localizing private sector salaries in line with the government sector.
– Establishing a unified center for complaints related to electronic payment transactions, headquartered at the National Data Center.
The source also expected these projects to be completed in less than a year, stressing that their implementation would contribute to Iraq’s advancement to a new level among advanced countries in this field. 232 viewshttps://economy-news.net/content.php?id=57098
Al-Sudani: We Are Close To Achieving Complete Self-Sufficiency In Petroleum Derivatives And Will Move To Exports.
Monday, July 7, 2025 11:05 | EconomicNumber of reads: 369 Baghdad / NINA / Prime Minister Mohammed Shia Al-Sudani stressed: “Iraq is close to achieving full self-sufficiency in petroleum derivatives, and will move to exports after the completion of a number of projects.”
Al-Sudani said in a speech during the inauguration, via video conference, of the operational works of the Diwaniyah refinery expansion project: “This project falls within the government’s vision to reach the conversion of 40% of the produced oil to the refining and transformation industries to meet the needs of the local market and export,” indicating that with the entry of a number of projects into service, Iraq is close to achieving full self-sufficiency in petroleum derivatives, and will move to exports after the completion of the refinery expansion projects in Maysan, Diwaniyah, and Najaf.
According to a statement from his media office, he praised the efforts being made on this project, noting: “Diwaniyah Governorate lacks major projects, and this project will contribute to stimulating economic activity and will provide double job opportunities.
” He pointed out: “Refinery expansion projects will be one of the most prominent areas for enhancing the expertise of our youth and developing and investing in the oil wealth.”
Al-Sudani explained: “The project, which costs $800 million, will include the addition of liquefied gas processing units with a capacity of 180 tons per day, gasoline improvement with a capacity of 10,000 barrels per day, expansion of kerosene, gas oil and fuel oil production, an 8,000 barrel per day naphtha isomerization unit, an 18,000 barrel per day naphtha hydrogenation unit, a nitrogen production plant, warehouses and storage and pumping stations, and another for electricity production.”
The Prime Minister expressed his great confidence in the private sector as a partner in implementing strategic projects, in addition to his greater confidence in national capabilities to implement joint projects and achieve the highest returns from the oil wealth.
Prime Minister Mohammed Shia al-Sudani launched, today, Monday, via a video conference, the executive works of the Diwaniyah refinery expansion project by adding refining units with a capacity of 70,000 barrels/day, so that the total refining capacity of the refinery becomes 90,000 barrels/day. /End https://ninanews.com/Website/News/Details?key=1239422
A Government Delegation From The Region Arrives In Baghdad, And An Oil Agreement Is Imminent Today.
Time: 2025/07/07 11:24:11 Reading: 945 times {Political: Al Furat News} An informed source revealed that a delegation from the Kurdistan Regional Government arrived in Baghdad to hold talks with Iraqi officials regarding the draft agreement between the two sides.
According to the source, the delegation includes Acting Minister of Natural Resources Kamal Mohammed, Cabinet Secretary Amanj Rahim, and Head of the Coordination and Follow-up Office Abdul Hakim Khosro.
The delegation’s visit comes as Baghdad has prepared a final draft of the agreement to re-export oil and is awaiting Erbil’s response, which is expected today.
A source familiar with the Baghdad-Erbil negotiations, who preferred to remain anonymous due to the sensitivity of the issue, reported yesterday that a draft agreement on the delivery and export of oil was in its final stages. He noted that the most significant amendment to the agreement entails the delivery of all oil produced in exchange for the federal government securing the Kurdistan Region’s petroleum product needs.
The source in the Kurdistan Regional Government indicated that the draft agreement stipulates that a delegation from the Ministry of Oil will be sent to the region for two purposes: first, to determine the actual level of oil production, and second, to assess the extent of local needs for petroleum products such as kerosene, gasoline, and diesel, which the federal government will provide according to the agreement.
It is worth noting that the Kurdistan Region’s oil exports via the Turkish port of Ceyhan have been halted since March 25, 2023, while the amendment to the budget law entered into force on February 17 with the aim of removing obstacles to the resumption of these exports.
Under the amendment, a consulting firm will assess the costs of extracting and transporting Kurdistan’s oil. Until this assessment is completed, Baghdad will temporarily pay $16 per barrel to oil companies as operating costs. LINK
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