Shafaq News/ The executive director of the Iraqi Private Banks Association, Ali Tariq, revealed, on Sunday, that the volume of electronic transactions in Iraq during August exceeded two trillion Iraqi dinars (approximately $1.5 billion).
In a statement to Shafaq News Agency, Tariq said, "This amount was transferred and circulated using various electronic payment systems, including cards and other payment methods."
He highlighted that "This figure is expected to double in the coming months."
Tariq also noted that around 20 million electronic payment cards have been issued, covering approximately 50% of Iraq's population, with some individuals owning two or three cards.
He concluded by mentioning that "the number of electronic payment devices has exceeded 30,000 in both the public and private sectors."
In October 2023, the Iraqi Council of Ministers issued several executive measures regarding the electronic payment system and point of sale (POS) devices, aiming to enhance the use of electronic payments and facilitate financial and commercial transactions in Iraq.