Government Media: All Official Institutions Adopt Electronic Payment.
Money and Business Economy News – Baghdad The Government Media Team announced on Tuesday that all official institutions are now using electronic means to collect and process payments. It also indicated that executive authorities are monitoring the adoption of electronic systems in government agencies.
Government media spokesman Haider Majeed said, “Numerous Cabinet decisions and Prime Ministerial directives have been issued to all government institutions, in coordination with the Ministry of Finance and the Central Bank of Iraq, to adopt the electronic payment system in all government departments and institutions.
” He explained that “this matter is among the priorities of the government program and ministerial approach, and the government’s efforts to enhance transparency and simplify procedures provided to citizens.”
He added, “The adoption of this system is based on the government’s vision to develop the financial transactions environment and reduce reliance on paper money.
This will contribute to combating corruption and reducing the chances of financial manipulation, as well as facilitating the collection of funds from citizens and other companies and institutions.”
He pointed out that “the electronic payment process offers many advantages, most notably simplifying procedures and accelerating transaction completion by reducing the time required to complete payments, enabling payments anytime, anywhere, and enhancing financial transparency and accountability through the presence and organization of an electronic database and record for each payment transaction.”
He explained that “this helps limit the manipulation of funds entering the state treasury, reduces the risks of dealing in cash, and reduces the need to carry and circulate paper money, which can lead to damage, loss, or theft.”
He emphasized that “electronic payment supports financial inclusion by encouraging citizens to open bank accounts, strengthening their bank accounts, using modern banking tools, enhancing the efficiency of government collection, increasing collection rates, reducing waste or financial leakage, and controlling the tax collection process.”
He pointed out that “the General Secretariat of the Council of Ministers, as the executive body of the government and the executive arm of the Council of Ministers, is closely monitoring the implementation of this approach with all ministries, institutions, and governorates, as well as the implementation of decisions issued by the government, in cooperation with relevant authorities, to ensure the success of the implementation and the achievement of the desired objectives, which will positively impact the level of services provided to citizens.”
He continued, “The government directives include all official institutions, all of which are currently working electronically to collect and collect money from citizens.
” He pointed out that “the government directive was also directed to all private sector entities, including public clinics, doctors’ clinics, pharmacies, markets, stores, fuel stations, and all other entities that operate in direct contact with citizens through sales operations.”
He pointed out that “there has been widespread acceptance by citizens in the final stages, which has encouraged all private sector entities to use electronic points of sale.” 757 views https://economy-news.net/content.php?id=56863
Ashura Closes The Iraqi Stock Exchange On Sunday.
Banks The Iraq Stock Exchange announced on Wednesday that it would suspend its activities for one day next Sunday, coinciding with the tenth day of Muharram.
The market stated in a statement that, “Based on the Cabinet’s decision to declare an official one-day holiday on the occasion of the tenth of Muharram, market activities and trading sessions will be suspended for one day.”
He added, “The holiday will start on Sunday, July 6, and trading sessions will resume on Monday.”
It’s worth noting that the Iraq Stock Exchange holds five trading sessions per week, from Sunday to Thursday, and lists 103 Iraqi joint-stock companies representing the banking, telecommunications, industry, agriculture, insurance, financial investment, tourism, hotels, and services sectors. 309 views https://economy-news.net/content.php?id=56906
Iraq Is Ranked Fifth Among The Cheapest Arab Countries To Live In.
Economy | 02/07/2025 Mawazine News – Follow-up Iraq ranked fifth among the cheapest countries to live in for the year 2025 according to the Numbeo website, which is concerned with the standard of living of countries around the world.
The website stated in a statistic reviewed by Mawazine News, that “Iraq came in fifth among the cheapest Arab countries in terms of the standard of living in terms of groceries, restaurants, rent, and local purchasing power.”
It continued that “Libya came in first among the cheapest Arab countries to live in, followed by Egypt in second place, Syria in third place, Algeria in fourth place, Iraq in fifth place, Tunisia in sixth place, Morocco in seventh place, and Jordan in eighth place.”
It indicated that “the most expensive Arab countries to live in for the year 2025 were the UAE, followed by Yemen, then Qatar and Bahrain.” https://www.mawazin.net/Details.aspx?jimare=263363
Oil Stabilizes Ahead Of OPEC+ Meeting To Decide August Production
Economy | 02/07/2025 Mawazine News – Follow-up: Oil prices stabilized on Wednesday as markets awaited an upcoming OPEC+ meeting this week, which will set production levels for August.
Brent crude rose slightly by one cent to $67.12 a barrel at 01:24 GMT, while US West Texas Intermediate crude fell by five cents to $65.40 a barrel.
The market is already seeing a clear impact from previous increases, with Saudi Arabia, the world’s largest oil exporter, increasing its exports in June by 450,000 barrels per day compared to May, according to data from Kpler, recording the highest level in more than a year.
In the United States, crude oil inventories rose by 680,000 barrels last week, according to sources citing data from the American Petroleum Institute, while official figures from the Energy Information Administration are expected later today. https://www.mawazin.net/Details.aspx?jimare=263352
Three Airports To Open Soon In Iraq
Local The Ministry of Transport confirmed, on Wednesday, that it is heading to open three main airports during the current year, while indicating that the development process of Baghdad International Airport includes 26 projects.
The spokesman for the Ministry of Transport, Maitham Al-Safi, told the official agency, followed by Al-Eqtisad News, that “the services government has developed important strategic plans to develop the civil aviation sector, and there were many plans that contribute to the development of this sector, including the construction of airports.”
He added, “The current year will witness the opening of three main airports: Mosul, which will open soon, as well as Karbala and Nasiriyah international airports.”
He continued, “The process of constructing the new airports coincided with the implementation of rehabilitation work at Baghdad International Airport through 26 projects, which achieved significant development in its infrastructure.” 143 views https://economy-news.net/content.php?id=56919
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