RAFIDAIN BANK INCREASES ELECTRONIC TAX SETTLEMENTS TO MORE THAN 4 TRILLION DINARS DURING THE FIRST HALF OF 2025

RAFIDAIN BANK INCREASES ELECTRONIC TAX SETTLEMENTS TO MORE THAN 4 TRILLION DINARS DURING THE FIRST HALF OF 2025.

Rafidain Bank announced today, Thursday, that electronic collection settlements exceeded 4 trillion dinars during the first half of 2025, compared to approximately 1.89 trillion dinars during the same period in 2024, reflecting an annual growth rate of nearly 113%.

A statement from the bank, a copy of which was received by {Euphrates News}, stated: “Data from the Electronic Collection Settlements Department showed an expansion in the number of government agencies activating the system from 1,395 by the end of January 2024 to 1,979 by the end of June 2025, which directly contributed to the increase in the pace of electronic collection.”

He added, “May 2025 recorded the highest monthly settlement value, at 761 billion dinars, compared to 571 billion dinars in May 2024, confirming the improved operational efficiency of the system and the strengthening of government institutions’ confidence in the electronic payment services provided by the bank.”

The bank explained that “this performance falls within its comprehensive strategy to support the government’s digital transformation program and enhance collection efficiency and public revenues, while adhering to the highest standards of transparency and financial governance, in line with official directives aimed at building an integrated and effective financial system.”