The Ministry of Oil announces the adoption of electronic payment instead of cash for super and improved gasoline

The Ministry of Oil announces the adoption of electronic payment instead of cash for super and improved gasoline

2024-03-21 04:43

The Ministry of Oil announces the adoption of electronic payment instead of cash for super and improved gasolineShafaq News/ The Ministry of Oil – Petroleum Derivatives Distribution Company announced, on Thursday, the start of supplying vehicles with “super and improved” fuel according to POS electronic payment cards in all governorates, starting tomorrow, Friday, March 22, 2024.

This was announced by the Director General of the Petroleum Products Distribution Company, Hussein Talib, and he said in a statement today, that the process of supplying vehicles with both types of gasoline (improved and super) in Baghdad and all governorates will be by electronic payment, indicating that this application will include all petroleum products in the coming stages.

The Iraqi government seeks to activate the electronic payment service, adopt modern automation systems, and end cash dealing.

Accordingly, the Petroleum Products Distribution Company, affiliated with the Iraqi Ministry of Oil, set the end of this March as a deadline for cash transactions at government and private fuel filling stations.

On January 7, the Prime Minister, Muhammad Shiaa Al-Sudani, directed that citizens be spared additional financial burdens resulting from commissions, during a meeting devoted to following up on the financial and economic transition to electronic payment, points of sale, and financial trading with electronic cards (POS).

Al-Sudani confirmed, according to a statement issued by his media office, that the goal is to facilitate dealing and facilitate payment in all fields, while ensuring the highest levels of security.

Most markets and fuel filling stations lack POS devices, despite the Council of Ministers’ directives to implement the electronic payment system in state institutions, the private sector, commercial centers, stores, markets, and other entertainment facilities.

Citizens still lack the provision of POS devices, and there are demands from the Central Bank, banks, and electronic payment companies to provide POS points of sale and make them accessible to citizens for use with electronic cards in shopping and paying instead of cash.

The Central Bank of Iraq announced, at the beginning of last June, that Cabinet Resolution No. (23044) for the year 2023 had entered into force, which was to increase the number of electronic payment devices (POS) in government institutions and the private sector to enhance the culture of electronic payment and collection, and reduce the use of paper money in Collection and commercial transactions.

It is noteworthy that the Board of Directors of the Central Bank of Iraq decided, on December 13, to establish the “National Company for Electronic Payment Systems” throughout the country, indicating that the company represents a qualitative development in the structure of the country’s financial infrastructure.

According to the Iraqi Central Bank statement, this step comes in conjunction with the rapid growth in electronic financial services and products and the rise in the number of users in accordance with the framework of the government program to support and adopt advanced electronic payment systems.