The Iraqi Private Banks Association announced, on Tuesday, its full support for the directives of Prime Minister Mohammed Shia al-Sudani regarding the localization of salaries of private sector employees.
The Executive Director of the Iraqi Private Banks Association, Ali Tariq, said in a statement today, “We appreciate the directives of the Prime Minister to localize the salaries of private sector employees, and to move from using cash to electronic payments in government institutions in the middle of next year in a complete manner. These directives reflect the government’s commitment to implementing its approach to financial and economic reform.”
He added that localizing the salaries of private sector employees, similar to those of public sector employees, and activating electronic collection, has great economic importance represented in increasing the rate of financial inclusion, improving transparency, supporting the digital economy, and increasing credit granted to the public, in addition to improving administrative efficiency and implementing automation in most public and private institutions, and increasing financial security.
Tariq also pointed out that the Iraqi Private Banks Association is committed to full cooperation with government agencies and financial institutions in the country to achieve these goals, stressing the association’s readiness to support all initiatives aimed at modernizing and developing the financial sector infrastructure.
“We believe that these steps will enhance the stability of the financial system and drive economic growth towards better levels, which will benefit individuals and institutions alike,” Tarek concluded.
Yesterday, Monday, Prime Minister Mohammed Shia Al-Sudani directed the localization of salaries of private sector workers, similar to those of state employees, while he set July of next year as the month for the departure of cash payments by government institutions.
shafaq.com
