Iraq PM directs measures to boost e-payment

Shafaq News/ Iraqi Prime Minister Mohammed Shia al-Sudani has ordered a series of measures to promote the use of electronic payments and point-of-sale (POS) systems in the country.

The measures aim to limit cash transactions, establish a joint committee to address security concerns and reduce mobile payment fees, and enhance security by tasking relevant authorities to address electronic payment fraud, according to a statement issued by his bureau.

To encourage adoption, educational institutions, medical facilities, hotels, restaurants, and other businesses must adopt e-payments to renew their licenses, said the statement.

The Central Bank will establish e-payment standards for government institutions and outline minimum requirements for e-wallets.

"Finally, government agencies, the private sector, and banks will collaborate to expand e-payment options, and a joint task force will conduct inspections to ensure businesses display their tax IDs and e-payment options," it concluded.

These measures follow similar directives issued in October 2023 in a bid to promote electronic payments in Iraq.