Shafaq News/ Prime Minister Mohammed Shia Al-Sudani directed, on Monday, that salaries for private sector employees be processed through bank accounts, similar to the system for government employees, as part of a push to phase out cash payments across government institutions by July next year.
According to a statement issued by Al-Sudani’s media office, “In line with the government’s financial and economic reform plan, which is one of its top priorities, Al-Sudani has directed the implementation of several steps to enhance and develop electronic payment systems and services: Work towards the domiciliation of salaries for private sector employees, similar to the public sector, by tasking the Ministry of Labor and Social Affairs and the Central Bank of Iraq to collaborate with select private sector institutions to establish an appropriate mechanism for this purpose.”
“All ministries and government institutions shall transition from cash payments to electronic payment for payment collections and related transactions. Each ministry or government institution must submit a comprehensive plan for this transition by December 31, 2024, with full implementation to commence by July 1, 2025,” as per the statement.