Al-Sudani issues directives regarding the development of electronic payment systems
Al-Sudani issues directives regarding the development of electronic payment systems
3-6-2025
Information/Baghdad…
Prime Minister Mohammed Shia Al-Sudani issued directives today, Thursday, regarding the development of electronic payment systems and the promotion of digital transactions in all government departments.
The Prime Minister’s Media Office stated in a statement received by Al-Maalouma Agency that “based on the government’s approach to administrative and financial reform included in the government program, and in accordance with the vision of Prime Minister Mohammed Shia Al-Sudani, regarding facilitating administrative and banking procedures, developing electronic payment systems, and enhancing digital transactions in all government departments, including procedures related to facilitating the process of registering companies, which contributes to enhancing the business environment and facilitating company registration procedures, in line with the government’s commitment to developing the national economy and supporting initiatives, especially those related to small and medium-sized companies, the Prime Minister directed:
1- Assigning the Baghdad Chamber of Commerce, the Federation of Chambers of Commerce, and the Iraqi Federation of Industries to work on simplifying procedures, in cooperation with the relevant authorities, within a time frame of 6 months to implement the business automation and digital transformation project in these institutions, which speeds up company registration procedures and enhances electronic payment systems.
2- Facilitating the process of ratifying company contracts, especially simple and medium ones, by issuing a confirmation letter from the notary public, and ratifying those contracts without delay.
3- Studying the possibility of allocating a notary public office within the Baghdad Chamber of Commerce; To ensure the endorsement of company incorporation contracts, and facilitate the necessary procedures.
4- Obligating the company owner to open a bank account in one of the authorized Iraqi banks, based on official approval from the Baghdad Chamber of Commerce, as a basic condition for completing the registration procedures and obtaining the company’s identity and certificate of incorporation.
5- Enhancing the use of electronic transactions and digital payment systems within the new business environment, through coordination with the Central Bank of Iraq, and issuing a circular to all banks to facilitate the procedures for opening accounts for small and medium-sized companies.
6- Coordinating with the Central Bank of Iraq to issue a circular to banks to provide banking facilities and financial incentives for companies, including loans, banking facilities and electronic transfers, enhancing the use of digital payments, and adopting technological financial solutions. 7-
Preparing a media campaign to raise awareness of the new procedures, by producing content that explains to citizens and investors the process of registering companies, the advantages of digital transformation and the available banking opportunities.
8- Forming a specialized committee from the relevant authorities to follow up on the implementation of these procedures and prepare periodic reports on the progress made in implementing the recommendations.
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