Not Exceeding 20%… The Culture Of Cash Transactions Hinders The Electronic Transformation In Kurdistan.
Baghdad Today – Kurdistan Financial expert Othman Karim confirmed on Thursday (September 4, 2025) that the percentage of electronic financial transactions in the Kurdistan Region is still below the required level, and has not exceeded 20% so far.
Karim told Baghdad Today that manual transactions are still the norm in government departments when it comes to receiving taxes and invoices, and that the use of electronic cards in daily transactions between citizens is limited to large shopping centers.
The expert attributed this decline to several main reasons, including the continued manual payment of salaries by employees, a lack of trust in banks within the region, and the absence of a culture of electronic financial transactions. https://baghdadtoday.news/282512-20.html
Exciting Figures: Iraq Ranks High Globally In Its Use Of Cryptocurrencies.
Economy 2025-09-04 | 06:28 817 views Alsumaria News The Global Cryptocurrency Adoption Index revealed that Iraq ranked relatively high, ranking among the top third of countries worldwide using cryptocurrencies.
The sixth edition of the Global Cryptocurrency Adoption Index reveals the extent of cryptocurrency adoption at the grassroots level.
The index consists of four sub-indices and ranks 151 countries, with a final score ranging from 1 to 0.
The closer a country’s score is to 1, the higher its cryptocurrency adoption rate. LINK
Customs: Our Revenues Will Reach 3 Trillion Dinars By The End Of This Year.
Yesterday, 10:34 Baghdad – INA – Mohammed Al-Talibi The General Authority of Customs announced on Thursday that it has taken measures to eliminate tampering with invoices for imported goods. While indicating that revenues will reach 3 trillion dinars by the end of the current year, it confirmed that the memorandum of understanding with the Saudi side is in its final stages.
The head of the authority, Qasim Thamer, told the Iraqi News Agency (INA):
“Customs revenues have increased in light of the recent customs reforms and are at their best this year,” noting that
“customs revenues have not exceeded one trillion in 20 years.”
He added, “Following the implementation of the ASYCUDA system and the Prime Minister‘s launch of the customs reform file, revenues increased to 2 trillion dinars in 2024.
This year, customs revenues have reached 1.7 trillion dinars to date,” expecting that “customs revenues will reach 3 trillion dinars by the end of the current year.”
He stressed that “the advance customs declaration will be implemented starting December 1st,
requiring traders to submit a declaration regarding the goods they will import before transferring hard currency abroad.
This way, we will have advance customs information, from which the value of the goods will be calculated.
This will positively reflect on increased customs revenues, as every dollar that leaves Iraq
will be matched by goods entering through border crossings.”
He explained that “there will be a full link with the Central Bank of Iraq through submitting invoices to the Central Bank for auditing and verification, thus eliminating manipulation of invoices.”
He pointed out that “the relationship is directly proportional between the value of the goods and the
customs duty, and since the prices of goods will be real, the customs duty will be real, leading to an increase in the customs duty.”
Regarding the memorandum of understanding with the Saudi side, Thamer confirmed that
“the memorandum of understanding with the Saudi side is in its final stages, and a draft has been prepared but has not yet been completed.”
He noted that “the opening of the Jamima border crossing between Iraq and Saudi Arabia will take place during November or December, and this depends on the administrative and legal procedures between the two countries.”
He pointed out that “the agreement includes the exchange of information and trade during this season, as well as
facilitating the movement of trade, the entry of goods, and the exchange of information regarding the customs aspect, in addition to facilitating the passage of goods through the global TIR system, in addition to other services.”
https://ina.iq/ar/economie/242537-3.html
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