Banks and the Iraqi Central Bank: We face challenges in electronic collection

Banks and the Iraqi Central Bank: We face challenges in electronic collection

To improve electronic government collection, the Iraqi Private Banks Association hosted a workshop on Thursday under the direction of the Central Bank of Iraq.

“Government collection is very important, and the decisions of the Council of Ministers and the direct follow-up of the Prime Minister will contribute to society’s shift from relying on cash to electronic dealing,” said Zaid Hamid, director of the Central Bank’s Operations and Settlements Department.

He explained that “the percentage began to rise gradually through the spread of electronic culture in society,” pointing out that “the Central Bank provided the infrastructure and systems necessary for the success of the electronic payment process.”

“The workshop briefed all government institutions on how to activate the electronic collection project, the challenges that departments face in the transformation process, and finding quick solutions regarding this matter,” stated Ahmed Al-Hashemi, deputy executive director of the Iraqi Private Banks Association.

He made note of the fact that, “this program can be implemented in all state institutions,” and that “the issue of collection in a number of ministries and state departments, including the Interior, Oil, Passports, and Gas Stations, has been initiated.”

“We have certain challenges that we face in the process of transitioning to electronic payment,” Al-Hashemi said, stating that “the state departments are committed to the directives of Prime Minister Muhammad Shiaa Al-Sudani to activate electronic payment tools for government collection.”

Noting that “this project preserves funds,” the Deputy Executive Director of the Iraqi Private Banks Association emphasized the need to “ensure the implementation of the electronic collection program in a correct manner to preserve the state’s funds.”