Resettlement salaries .. its importance and its dimensions

Resettlement salaries .. its importance and its dimensions



5/11/2017 0:00

Dr.. On behalf of the Ibrahimi
is the settlement of salary project , which the Central Bank is working on the implementation of the important steps in terms of the transfer of cash transactions to the electronic age, this project is being implemented on the basis of a decision issued by the Council of Ministers the end of last year in this regard to integrate with a range of measures that the central bank has succeeded in the two years two years to achieve, what is the significance of this project? What are the economic dimensions? .
The project includes opening accounts for all ministries and government institutions staff in the banks and the bank will be the guarantor of these salaries, in the context of strengthening financial inclusion and mainstream banking services to all segments of society, which ends the risk of theft, loss, fraud and damage upon receipt of salaries.
I have been applied to the first stage successfully through resettlement through a number of banks that have been selected according to a set of standards of technical and financial assessed in accordance with the services to be provided by staff and high transparency of the central bank staff salaries, after which the signing of a contract between the central banks selected to take the appropriate guarantees for resettlement, where issuing bank accounts linked to staff cards.
There are a number of important economic dimensions of this project Seffersha with completion, notably the promotion of financial inclusion and expansion of financial services, if we take into account the number of employees of approximately four million people as well as the size of the families that pose the banks will deal with almost twenty million people.
This project can bridge the trust between banks and citizens and then dealers than with banks as the percentage of those who have bank accounts in Iraq currently does not exceed 12 percent of the population, on the other hand, the payment of salaries process through banks can contribute to increasing the speed of money circulation thus alleviating deflation is happening as a result of the financial crisis.
In contrast, the banks . You will get large sums of money being to benefit them by enhancing their liquidity, but the important thing here is to what extent you will be able banks to benefit from this liquidity and re - inject a significant share of which in the credit channels for the benefit of productive projects so as to contribute to the promotion of the business cycle and out of what known in the economic literature liquidity trap and the area in which we are now?

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