/2018/03/14/iraq-enters-electronic-banking-to-catch-up-with-global

by **Rocky** Fri 13 Apr 2018, 11:37 am

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/2018/03/14/iraq-enters-electronic-banking-to-catch-up-with-global

by Rocky Fri 13 Apr 2018, 11:37 am

Iraq enters electronic banking to catch up with global development

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(Baghdad: Al-Furat News) The advancement of payments is the most important steps to develop financial systems in Iraq and catch up with developments in the payment systems in the developed world.
The Central Bank of Iraq is taking serious steps to move to make public and private payment systems electronically managed.
The bank stressed its desire to develop electronic payment mechanisms in line with global developments and to spread advanced payment technologies in all areas of Iraq without exception, including all transactions for the public and private sectors.
He pointed out that the past days witnessed the organization of a workshop in the province of Maysan addressed the importance of moving to a system of payments developed, as well as the activation of points of sale targeted various segments of the community of the employees of the province and some of its departments, as well as traders and owners of big markets (Malls), restaurants, hotels and others to activate the subject of points of sale And in cooperation with the province of Maysan.
He pointed out that the audience listened to a detailed explanation on the importance of resettlement and the mechanism set by the Central Bank to implement the decisions of the Council of Ministers.
The Governor of Maysan Ali Douai, during his speech at the opening of the workshop on “the importance of this step to be followed by a review of the status of the province in the settlement of salaries of employees,” stressing “the freedom of the employee to choose according to his wishes based on the benefits provided by each bank and during the next week will choose all Employee of the bank who sees it fulfills his wishes to be followed by agreement with those banks and start settling salaries, declaring that he is the first to settle his salary in banks.
All banks presented their offers to the staff of the Diwan and other departments associated with the governorate and other departments.
It has become increasingly necessary to catch up with global developments, especially in the financial sector, which has adopted advanced systems benefiting from technological developments in the world, because it is commensurate with the requirements of the implementation of work, which has reduced the time and effort much more than before.
And that the transfer of salaries and disbursement through electronic payment is important and a positive shift to achieve great benefit to the national economy and maintain a large proportion of liquidity within the banking system.
Work is being done to make electronic payment mechanisms through the Central Bank of Iraq.
The director of training and management in the Association of Private Banks Ahmed al-Hashemi, “the importance of the direction of banks towards electronic banking and information technology, and be dealt with in a precise manner that leads to the completion of financial operations according to the requirements of the customer of different, and thus we have to offer competitive products provided regionally.”
He stressed that “global companies and the requirements of reconstruction require sophisticated technology, and Iraq is able to possess technology to produce sophisticated products, especially after the victories on the preacher and the terrorist approach to develop the private sector technology in the detailed human resources.”
alforatnews