“Astronomical amounts”… Rafidain Bank reveals the amounts collected from electronic collection for the year 2024.
“Astronomical amounts”… Rafidain Bank reveals the amounts collected from electronic collection for the year 2024.
2025-03-17
Shafaq News/ The state-run Rafidain Bank announced on Sunday that it achieved more than 6.06 trillion Iraqi dinars from electronic collections during 2024, indicating that the amounts were also high at the beginning of the current year.
In a statement received by Shafaq News Agency, the bank stated that the Government Revenue Collection Department at Rafidain Bank announced “an unprecedented growth in electronic collection settlements for government department accounts during 2024,” stressing “the increasing pace of collection through electronic payment companies, which reflects the significant development in adopting digital systems in government revenue management.”
According to statistics issued by Rafidain Bank, “the total amount collected during 2024 exceeded 6.06 trillion Iraqi dinars, registering a continuous increase compared to the first months of the year. September 2024 witnessed the highest growth rate, with total settlements reaching 838.5 billion dinars, an increase of 11.12% compared to the previous month.”
The statement added, “At the beginning of 2025, the system continued its strong performance, with total collections in January 2025 reaching approximately 707.5 billion dinars, followed by February with 689.2 billion dinars. Government departments also recorded a significant increase in the activation of the electronic collection system, with the number of activated entities rising to 1,808 by last February, compared to 1,395 in December 2024.”
Rafidain Bank affirmed that “this significant growth reflects the success of the state’s efforts to promote digital transformation, reduce reliance on cash, and achieve higher levels of transparency and financial efficiency. It also emphasized that the electronic collection system represents a fundamental pillar in improving collection mechanisms and reducing the risks of financial corruption.”
He pointed out that “this qualitative leap comes within the framework of the ongoing efforts led by Rafidain Bank, in cooperation with government agencies, to support the digital economy, enhance confidence in electronic financial transactions, and raise the efficiency of the financial sector in Iraq.”
shafaq.com
