Association of Banks: More than 14.9 million bank cards in Iraq

Update 07/11/2022 - 6:51 AM
  
Economy News - Baghdad

The Association of Iraqi Private Banks announced that the percentage of users of electronic payment tools in Iraq has increased, confirming that there are more than 14.9 million active bank cards.

The Executive Director of the Association, Ali Tariq, said in a statement, "The policy of the Central Bank of Iraq is working to increase electronic payment tools, which contributes to increasing confidence between the citizen and the banking sector, in addition to raising the percentage of financial inclusion."

He added, "The year 2021 witnessed a growth in bank cards by 26.87%, as the total number of activated cards owned by citizens amounted to 14.9 million cards of all kinds, in addition to the presence of 2.1 million active mobile payment wallets."

He stressed that "there are 1,566 ATMs spread throughout Iraq, until the end of the year 2021, in addition to the presence of more than 14.7 thousand financial payment points and more than 8.3 thousand electronic payment points."

He explained, "The activation of bank cards and the dissemination of electronic payment tools will contribute to facilitating the payment process when purchasing from inside and outside Iraq, in addition to reducing dependence on banknotes and increasing the volume of electronic commerce in Iraq, which contributes to achieving greater revenues for merchants, regulating and reducing losses in electronic commerce." ".



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