The Central Bank expects to end cash transactions in Iraq by mid-2026.
The Central Bank expects to end cash transactions in Iraq by mid-2026.
2025-09-22 | 03:39
Alsumaria News Economy:
The Central Bank expects July 2026 to be the date for ending cash payments in all government institutions and other facilities.
The Director of Non-Banking Financial Institutions Supervision at the Bank, Dr. Durgham Musa said, “The Central Bank, within the framework of legislation and controls and under the direct supervision of prime minister Mohammed Shia al-Sudani And specialists in other ministries have made progress in the field of electronic payment,” noting that “trillions of dinars have been paid electronically, in addition to the lack of cash transactions in government departments. ”Ministry of Interior Completely.”
Moussa described these indicators as “excellent,” aspiring to extend the experience to all state ministries, noting that “there are more than one initiative to encourage other state institutions to enter the framework of electronic digital payment.”
He expected that “the Iraq Cash transactions will be fully implemented in state institutions and other facilities by July of next year, thanks to the efforts and direct supervision of the government and the sectoral body represented by the Central Bank.
For his part, the head of the Osool Foundation for Economic and Sustainable Development said: Khaled Al-Jaberi “There is a continuation of reforms in fiscal and monetary policies and banking reform lines, in addition to customs reform and tax transactions and their dealings,”
he added .Al-Jabari “These reforms cannot be completed in such a short time to end cash transactions so quickly, as they require legislative issues, reorganization of certain procedures, and many other details,” he said, emphasizing the “need for continuous work to reduce cash transactions in the coming period.”
alsumaria.tv
