Central: remittances exceeded 10 trillion dinars for the month of March

Central: remittances exceeded 10 trillion dinars for the month of March


24/04/2013 12:00 AM

Call to resolve impediments to the introduction of modern mechanization
Baghdad - Mostafa Hashemi
Iraq seeks to introduce modern mechanization in government and development banks working out for it is one of the key things in the success of financial transactions between Iraq and the world on the one hand and between the inside of the citizens on the other.
The development of the banking business in Iraq of the priorities of the Central Bank of Iraq, as it seeks to reduce the use of cash (CASH) in the country to adopt modern banking systems.
A statement by the bank that he is currently working with local and external for the issuance of a special law in all electronic payment systems to be working within a legal environment intact. Adding heading efforts to automate the processes of settlement of checks, payroll and activation of automation systems for the card electronic, to keep more cash in bank accounts .
He added that the Iraqi payment systems consist of the Real Time Gross Settlement System, and automated clearing system and recording system Government Securities, stressing at the same time post 43 waged, banks and branches of foreign banks in addition to state-owned banks in the payments systems adopted by the Central Bank of Iraq.
The bank announced in statistical him the amount of remittances according to the settlement system immediate RTGS for the month of last March, as of 10 trillion and 922 billion, 755 million and 966 000 dinars, compared to 403 000 625 thousand and 605 dollars. While the transfers of the system itself for the month of February 16 Trliuna and 220 billion and 166 million and 444 thousand dinars, compared to 292 billion and 7.77 million dollars, either in the month of January stood at 12 trillion, 149 billion, 182 million and 137 thousand dinars were offset by the dollar amount of one billion, 644 million and 804 thousand and $ 322 . For his part, called on specialists to address some of the things that hinder the success of this process properly is summed up in the absence of a suitable ground for the establishment, whose down cadres efficiency or staffs working in the Iraqi government and banks including in particular.
He attributed the economist in the Ministry of Finance the reasons for the reluctance of the majority of Iraqi banks to bring mechanization and use of modern banking to the lack of an appropriate environment amid the presence of unqualified cadres and away from the financial and banking jurisdiction.
He said banking expert Hilal Taan told (morning): the reason is also that these angels are not eligible originally to manage this sector because it represents disciplines non-bank operating in the banking sector if they are graduates of the studies agricultural, date, or industry and others, while supposedly that includes the banking sector scientific cadres specialized in Administrative Sciences, financial and banking, accounting and statistics in order to be able to perform its duty properly to advance this important sector forward and develop it. and Male Taan in statistical him in the banking sector that the percentage holding advanced degrees in this sector is less than 1 percent, while the percentage of holders of BA BA 20 percent and the proportion of illiterate more than 20 percent, and holders of middle and junior high more than 30 percent. said he can not under these circumstances the introduction of mechanization of modern only after the development of performance and raise the efficiency of graduates specialized because the certificates is specialized filled vacuum and covered on the actual need for the specialties of Finance and Banking in Iraqi banks, calling at the same time to consider this issue because of its importance in supporting the financial sector of Iraq to comply with the stage of economic development. and the need to revolutionize management in the banking sector to improve the reality of this sector, pointing out that private banks contracted with former employees in State-owned banks to acquire the skills and experience of leadership in this area, while those banks to attract part of the young graduates of degree holders specialist who wants most is constantly working with them, but there is no guarantee that their contractual rights is what prevents them from continuing with it., and pointed out that the central bank's target Iraqi year for these laws was in line with international banking standards, and strive to promote confidence in the economy through the creation of a safe and sound banking system and competitive available to all, also aims central bank support of these laws to maintain price stability local, and enhancing competitiveness and building a stable financial system.
And worked in Iraq for more than 40 waged, and foreign banks, including branches of Lebanese banks and the United Arab Emirates, Iranian and Turkish as well as 6 state banks are the Rafidain and Rasheed, Iraqi Trade and industrial, agricultural and real estate.



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