A Boom in Points of Sale (POS): Iraq Approaches the End of the Cash Trading Era

Central Bank statistics recorded significant growth and a vertical ascent in the volume of payments via points of sale (POS) during the first quarter of this year, with tens of thousands of merchants joining the system. This radical transition reflects the resounding success of financial inclusion decisions, facilitating commercial operations for businesses, sharply dropping physical cash handling costs, and protecting the Iraqi financial system while accelerating its mandatory and successful steps towards global integration.