Iraq Just Now Getting Electronic Banking System In Place Link To Prev. Post
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Central Bank supports electronic control system with the border crossing points 16/06/2013 12:00 AM
Economist: bank transfers to ensure the entry of goods amounts same Baghdad - Mostafa Hashemi at a time when the central bank announced a decline in sales of the currency auction to banks and adoption of the control system electronic links between him and the General Authority for Customs, called Economists Bank to expand the adoption of the treasury transfers instead of cash sales for banks and citizens to reduce the high price of the dollar and ensure the preservation of public money wastage
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Central Bank seeks to application of electronic payment systems - Sat Aug 24, 2013 8:25 pm
Baghdad / Qais chopsticks revealed the CBI about his quest for the application of electronic payment systems that contribute to the development of the banking sector through the clearing system instruments, electronic.
central bank said in a statement received "long" version of it, that the application of these systems is designed to reduce the use of ( cash) in the country where, because the business environment is characterized by fast transactions and keep abreast of developments, especially in the field of banking transactions in general and the areas of the use of modern payment in particular.
statement added that regulations adopted central bank implementation is the clearing system instruments, electronic which can banks to exchange orders Payment of low value and instruments encoded with each other electronically and locations where the co-Most private banks and their branches in the system and the number of participants (40) banks in addition to the Rafidain and Rasheed.
continued: since 2004, sought the bank to the application of electronic payment systems because of the challenge geographical and security issues has made the process of transferring money across the country is difficult and reserved risks and therefore tend endeavors to complete the settlement processes of checks and salaries and activate the automated systems of the card electronic.
between the statement, that the care of the central bank to complete the transition to electronic clearing aims to reduce the period of clearing hand beyond sometimes month and through the application of these systems will create a creative banking environment and a safe is available to customers with the tools and banking motivated the economy and the financial transactions of all sizes and this is what we accomplished quickly.
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Finance Committee Calls for the adoption of electronic banking services in Iraq
October 20, 2013
Called on the Finance Committee in the House of Representatives, the Iraqi banks to activate some modern banking services, such as the settlement of financial transactions through mobile phones, or credit cards, so as to reduce the handling of paper currency.
Committee member Abdul Hussein al-Yasiri, said in a statement to Radio Free Iraq “to find new methods for the settlement of cash transactions electronically, will make it easier for citizens and traders alike, hold those transactions without the need for a review of the banks,
Otthml consequences of carrying cash, and the risk of theft, as well as reduce the use of paper currency, which of course reduces the need to be replaced and new ones printed from time to time. “
Economists welcomed their part at the invitation of the parliamentary finance committee, because it is in their view constitute a step in the right direction.
He said economic expert on behalf of Jamil that “there is exaggeration in the use of cash in Iraq, and that there is a huge mass of cash circulating in the market up to trillions of dinars.
”To The head of the Association of private banks in Iraq, Abdul Aziz Hassoun difficult to activate services for financial transactions electronically, during the current stage, due to the lack of infrastructure required for the adoption of this type of banking services.
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Expert: the use of electronic systems, financial transactions will reduce paper currency exposure to damage and theft 25-10-2013 07:21 AM
Baghdad (news) .. Said economist Dergham Mohammed Ali, the importance of using electronic systems financial transactions, to reduce the use of paper currency prone to damage and theft.
said Mohammed Ali (of the Agency news): The electronic systems of the best ways applicable universally being reduced from dealing currency paper prone to theft and damage, Indicating possible to be used to pay large sums of money that can not be moved manually from the provinces by mobile phone or card electronic payment.
added: that the electronic systems in place in Iraq, but in a limited way, the fact that culture around a few, on the banks to provide educational programs for citizens to know on what it is.
And: that this system offers to the citizen financial transactions safer and urbanization, on the condition that the company is contributing to a trusted and sobriety and has safety systems sufficient to maintain the balance of its users.
noted: the need to take assurances from the companies mobile phone that the process is done confidentiality and security of caffeine so that it maintains balances citizens in the event of the use of these services. mention that the project needs to be propaganda and media to educate citizens and learn how to use this technique, which will add a remarkable development of the Iraqi banking sector.
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