The central bank exempts merchants and citizens from the commission of using POS for a period of 6 months

by **claud39** Tue Mar 17, 2020 9:16 am

The central bank exempts merchants and citizens from the commission of using POS for a period of 6 months

17/03/2020

Economy News _ Baghdad

The Central Bank of Iraq announced, on Tuesday, that it excludes merchants, business owners and citizens from the commission of using points of sale for a period of 6 months.

The bank said in a statement, "Economy News" received a copy of it, that "regarding the call to use electronic payment tools in financial transactions and avoid dealing with cash in order to preserve public health, the commissions on citizens and merchants when using POS devices will be zero for a period of 6 months starting from 17 This March.

The bank called "all banks the need to contribute effectively to support the current stage by providing financial and banking products and services to encourage different groups of society to use electronic payment tools."

http://economy-news.net/content.php?id=19333

by **claud39** Tue Mar 17, 2020 10:08 am

Association of Private Banks: The recent decisions of the Central Bank contribute to increasing electronic commerce

17-03-2020

The central bank exempts merchants and citizens from the commission of using POS for a period of 6 months Image

The central bank exempts merchants and citizens from the commission of using POS for a period of 6 months Image

Baghdad / news

The Association of Iraqi Private Banks announced that the Central Bank of Iraq has taken a series of measures to encourage citizens to use electronic payment tools and gradually move from cash to electronic transactions, indicating that these decisions are in the interest of citizens and merchants and will contribute to increasing electronic commerce in Iraq.

The executive director of the Association of Iraqi Private Banks, Ali Tariq, said that "the current situation requires us to use electronic payment tools and to stay away from cash handling in order to avoid the Iraqi economy the problems caused by dealing in cash."

He added that "the Central Bank of Iraq has taken a series of measures to encourage citizens to use electronic payment, including making the commission zero for the merchant when using points of sale for a period of six months starting today, in addition to providing new products and banking financial services that suit all groups of society, explaining that the Iraqi citizen He can buy with his bank card from inside and outside Iraq without any commission in addition to using the official exchange rate approved by the central bank and not the exchange rate in the market.

He stressed that "there is a quantitative importance for the owners of retail stores and big merchants using electronic payment tools, including increasing their financial revenues and merging between electronic and traditional trade together, as shop owners can display their goods on their sites and other sites such as Facebook and Instagram and sell them to citizens directly and receive the goods money at the same moment with Protecting consumers and avoiding commercial fraud.

He stressed that "the owners of hotels, restaurants and other stores can also maintain their customers and increase their revenues through the adoption of an incentive system that is to give points to the customer when his purchases reach $ 100, for example, he will get a gift or one night stay for free in the hotel and others."

He pointed out that "the increase in electronic payment tools depends heavily on the citizen, as the electronic payment companies carry out a wide campaign to educate and publish their devices for free, and that electronic payment contributes to reducing losses for shop owners and keeping theft away by depositing money directly into his bank account while obtaining the bank interest ".

He pointed out that "the increase in electronic payment users will contribute to attracting the large monetary block in homes that exceed more than $ 30 billion to the banking sector and entering it within the economic cycle, including contributing to the development of the Iraqi economy."

https://www.ikhnews.com/index.php?page=article&id=211305

by **claud39** Tue Mar 17, 2020 7:22 pm

[size=35]Association of Private Banks: Central bank measures contribute to increasing electronic commerce[/size]

2020-03-17

[size=35] The central bank exempts merchants and citizens from the commission of using POS for a period of 6 months Doc-P-337953-637200482487943610

The central bank exempts merchants and citizens from the commission of using POS for a period of 6 months Doc-P-337953-637200482487943610

[/size]

The Association of Iraqi private banks considered, on Tuesday, that the recent central bank measures contribute to an increase in electronic commerce.

The executive director of the Association of Banks Ali Tariq said in a statement that Alsumaria News received a copy of it, "The current situation requires us to use electronic payment tools and stay away from cash transactions in order to avoid the Iraqi economy the problems caused by dealing in cash."

He added that "the Central Bank of Iraq has taken a series of measures to encourage citizens to use electronic payment, including making the commission zero for the merchant when using points of sale for a period of six months starting today, in addition to providing new products and banking financial services that suit all groups of society", explaining that " An Iraqi citizen can purchase his bank card from inside and outside Iraq without any commission in addition to using the official exchange rate approved by the central bank and not the exchange rate in the market.

He stressed that "there is a quantitative importance for the owners of retail stores and big merchants using electronic payment tools, including increasing their financial revenues and merging between electronic and traditional trade together, as shop owners can display their goods on their sites and other sites such as Facebook and Instagram and sell them to citizens directly and receive the goods money at the same moment with Protecting consumers and avoiding commercial fraud.

https://www.alsumaria.tv/news/%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF/337953/%D8%B1%D8%A7%D8%A8%D8%B7%D8%A9-%D8%A7%D9%84%D9%85%D8%B5%D8%A7%D8%B1%D9%81-%D8%A7%D9%84%D8%AE%D8%A7%D8%B5%D8%A9-%D8%A7%D8%AC%D8%B1%D8%A7%D8%A1%D8%A7%D8%AA-%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-%D8%AA%D8%B3%D8%A7%D9%87%D9%85-%D8%A8