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Hindawi confirms that Iraq is a project to pay salaries electronicallyAre GMT

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rocky
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Hindawi confirms that Iraq is a project to pay salaries electronicallyAre GMT

Post by rocky on Tue 05 Sep 2017, 7:37 am

Hindawi confirms that Iraq is a project to pay salaries electronicallyAre GMT


00:56 2017 Tuesday, 05 September / September



Today, Hindawi confirms that Iraq is a project to pay salaries electronically
Abdul Zahra Al Hindawi
Baghdad - Arabs today
It is expected that the end of the current year will complete the project of automation of salaries or what is known as electronic settlement through the use of smart card, as all the employees of Iraq, about 4.5 million, representing 10% of the total population of smart cardholders, and receive salaries from banks through this card Of various uses.

The Iraqi Council of Ministers requested that the Ministry of Planning and Development Cooperation coordinate with the Ministry of Finance and the Central Bank of Iraq to issue a unified job number for the employees of the government departments. The Council of Ministers also granted the employee the freedom to choose a bank approved by the Central Bank In the process of settling salaries to open a bank account in preparation for receipt of salary through the account electronically under a bank card.

The project is considered an important step that will contribute to a qualitative change in the nature of life of Iraqis with the presence of such a large number of employees, as the economist Abdul Zahra al-Hindawi, that "the country is witnessing a real savings movement by citizens in banks, whether governmental or private, Employees represent the largest mass of cash traded in the local market, but this trading is not an investment, but to ensure the requirements of the Iraqi family daily, so the entry of a large block of cash in the banking portfolios with a clear vision to invest these funds development, B Markedly in the shadow of a financial crisis gripping the country since 2014, in addition to the establishment of banking policies must be of sound development dimensions. "

He added that "the project pays to encourage employees to save, especially in light of the widespread culture of hoarding funds and the lack of confidence between citizens and banks, especially private banks," noting that "banks must work on the principle of competition between them through services and benefits provided to customers and compete in the annual interest rate On the deposited funds, which drives the citizen to move towards the bank that gives a higher interest rate than others, as well as other services that banks can offer to attract depositors of smart card holders, such as granting loans and facilities banking, "and pointed out that" JH challenges, as we will find fear among employees of the failure of banks obligations to depositors, "noting" the need for banks to be selected for this task is guaranteed by a governmental entity ».

The task of selecting the Central Bank of Iraq as the sectoral sector supervising the banking sector, he announced that he chose 16 banks, some of which are government and some of the private banks to take over the task, and that the selection process was in accordance with global standards and the level of the bank will be the guarantor of any of these banks May face problems or falter in the fulfillment of its obligations to the extent that he was willing to pay dues instead of the bank lagging.

Al- Hindawi stressed the importance of mechanisms and procedures that will reassure employees about this new experience which they are not yet accustomed to. He pointed out that the presence of ATMs in public markets and important commercial centers, as well as the headquarters of ministries and government departments, is necessary for the cardholder to shop through them. "He pointed out that" the experience of the project to settle salaries electronically is very important, "pointing out that" the urgent need to ensure all the requirements for success and the banks to invest this step by improving the performance and diversification of banking services and development, to become more effective in the process of development construction The banking sector is one of the most important pillars. "

He said many of the managers of private banks that the localization of salaries of state employees electronically a step bear important implications, which will be reflected positively on the performance of banks in terms of securing liquidity and restore confidence between the citizen and the sector, which witnessed during recent years reflected the results reflected the reality of the Iraqi economy, stressing the ability of banks to implement expansion programs The base of its services to citizens in a form that strengthens the investment base of the sector to reflect its results on the financial sector in general.

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weslin3
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Re: Hindawi confirms that Iraq is a project to pay salaries electronicallyAre GMT

Post by weslin3 on Tue 05 Sep 2017, 9:07 am

This is a step that needs to be taken, I guess but it says won't happen until the end of the year.
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fonz1951
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Re: Hindawi confirms that Iraq is a project to pay salaries electronicallyAre GMT

Post by fonz1951 on Tue 05 Sep 2017, 7:48 pm

[You must be registered and logged in to see this link.] wrote:This is a step that needs to be taken, I guess but it says won't happen until the end of the year.
end of the year, that's only about 120 days. i can wait.


Last edited by fonz1951 on Tue 05 Sep 2017, 7:50 pm; edited 1 time in total (Reason for editing : wrong number)
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weslin3
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Re: Hindawi confirms that Iraq is a project to pay salaries electronicallyAre GMT

Post by weslin3 on Tue 05 Sep 2017, 8:52 pm

What other choice do we have fonz?

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Re: Hindawi confirms that Iraq is a project to pay salaries electronicallyAre GMT

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    Current date/time is Sat 18 Nov 2017, 10:48 pm