Rafidain Bank achieves more than 2.6 trillion dinars in electronic collection settlements.
Rafidain Bank achieves more than 2.6 trillion dinars in electronic collection settlements.
2025-05-07
Rafidain Bank announced on Wednesday that it has achieved a qualitative leap in the volume of electronic collection settlements executed for government departments during the first third of 2025. This comes as part of its strategy to support digital transformation and enhance government collection efficiency. According to data issued by the bank, total settlements amounted to more than 2.65 trillion dinars, marking a significant increase compared to the same period in 2024, when they did not exceed 772 billion dinars, indicating a growth of 244%.
The bank indicated that this remarkable growth was a result of the expansion of the number of government departments activating the electronic collection system, as their number increased from 1,395 departments at the end of March 2024 to 1,808 departments by the end of March 2025.
The data also showed that April 2025 recorded the highest quarterly settlement rate since the system’s implementation, with settlements totaling 654 billion dinars, compared to just 314 billion dinars in April of last year. This reflects a tangible improvement in the system’s operational efficiency and confirms the growing confidence of government institutions in using the electronic payment services provided by Rafidain Bank.
The bank affirmed that this achievement aligns with government directives to build a more effective and integrated digital financial system, consolidate the principles of transparency and financial governance, and support the country’s digital transformation plans.
burathanews.com
