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Launch of the ATM service in Iraq

rocky
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electronic - Launch of the ATM service in Iraq Empty Launch of the ATM service in Iraq

Post by rocky on Wed 27 Dec 2017, 1:33 am

[ltr]Launch of the ATM service in Iraq[/ltr]
[ltr]Economie[/ltr]
 Since 2017-12-27 at 09:03 (Baghdad time)
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[ltr]Baghdad Mawazine News[/ltr]
[ltr]Al-Rafidain Bank announced on Wednesday the launch of ATM service in Iraq through the completion of the payment card held by the citizen to withdraw his money in any place.[/ltr]
[ltr]The bank's information office said in a statement received by Mawazine News, "The opening of the electronic ATM service center in Iraq through the completion of the electronic payment card (master card and other payment card), which the citizen has to withdraw his money anywhere Which is applicable internationally to provide excellent banking services to citizens and employees for the purpose of withdrawing his funds when needed.[/ltr]
[ltr]The statement said that "this step also limits the risk of exposure to various segments of citizens to the thefts that the money they carry through this card will not be visible."[/ltr]




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electronic - Launch of the ATM service in Iraq Empty Rafidain launches the ATM service

Post by rocky on Wed 27 Dec 2017, 2:14 am

[size=30]Rafidain launches the ATM service[/size]
27/12/2017 10:16 | Number of readings:
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Trend Press / Baghdad
 
A publicly Rafidain Bank, announced the launch of ATM service in Iraq through Aatmam electronic payment card (Master Card and other payment card and other) in the possession of the citizen to withdraw his money anywhere resides in it " .

The Information Office of the Bank said in a statement , "jib Press obtained" a copy of it, on Wednesday, "it was the opening of the ATM mail applicable international service to provide banking services for outstanding citizens and staff center for the purpose of withdrawing his money when needed."
 
He pointed out that "this step also limits the risk of exposure to various segments of citizens to the theft of the money that they carry through this card will not be visible."
 


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electronic - Launch of the ATM service in Iraq Empty Rafidain launches the electronic ATM service

Post by rocky on Wed 27 Dec 2017, 3:19 am

Rafidain launches the electronic ATM service
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BAGHDAD / Al-Rafidain Bank announced on Wednesday the launch of the ATM in Iraq through the adoption of electronic payment card (master card and other payment card) held by the citizen to withdraw his money in any place.
The bank's information office said in a statement received by "Eye of Iraq News" that "the opening of the international electronic bank service center to provide excellent banking services for citizens and employees for the purpose of withdrawing his funds when needed."
"This step also limits the risk that various segments of citizens will be exposed to theft because the money they carry through this card will not be visible," the office said.
The Master Card is an international card issued in cooperation with various economic institutions. It is distributed under the MasterCard brand, which is one of the three major brands of cards approved worldwide. The credit granted to cardholders is controlled by the issuing financial institution, Master Card. Finished 2




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Post by chouchou on Wed 27 Dec 2017, 6:46 am

Excellent!
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Post by weslin3 on Wed 27 Dec 2017, 10:07 am

thumbs2 Great news!!
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Post by Proven on Wed 27 Dec 2017, 12:18 pm

The electronic payment project will be completed by the end of this year
05-09-2017 12:13 PM
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Baghdad News -


Life
 

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 represent 10% of the total population of smart cardholders, and receive salaries from banks through this card Of various uses.
 
The 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 employees in the State departments, for adoption mainly in government databases. 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 his salary through the account electronically under a bank card.

The project is considered an important step that will contribute to the events of 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 traded cash in the domestic market. However, this trading is not considered an investment, but it is about securing the requirements of the Iraqi family daily. Therefore, the entry of a large monetary bloc in the banking portfolios with a clear vision to invest these funds in a developmental way would move the economy significantly in light of the financial crisis that has plagued the country since 2014, and 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», adding that «banks to work on the principle of competition between them through services and benefits provided to customers and compete in the annual interest rate On the money deposited, which drives the citizen to move towards the bank that gives a higher rate of interest than others, as well as other services that banks can offer to attract depositors of smart card holders, such as granting loans and banking facilities ».

He pointed out that «this experience will face challenges, as we will find fear in the staff of the failure of banks to meet their obligations to depositors», pointing to «the need to be selected banks for this task guaranteed by a government». 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 lag in the fulfillment of its obligations to the extent that he expressed his willingness to pay dues instead of the bank stagnant ».

He stressed the importance of mechanisms and procedures to reassure employees about this new experience which they have not yet mastered. "The presence of ATMs in public markets and important commercial centers, as well as the headquarters of government ministries and departments, is essential for the cardholder to shop for," he said. .

He pointed out that «the experience of the project to settle the 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, Banking is one of its main pillars ».

And considered 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 has witnessed in recent years the decline reflected the results on 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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Post by weslin3 on Wed 27 Dec 2017, 12:48 pm

And it gets gooder and gooder as Granny would say... lol! Dance
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Post by Lobo on Wed 27 Dec 2017, 12:55 pm

KEEP PRAYING

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Post by mochasmom on Wed 27 Dec 2017, 1:06 pm

Getting there fast!
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electronic - Launch of the ATM service in Iraq Empty Rafidain launches the ATM service for the first time

Post by rocky on Thu 28 Dec 2017, 1:38 am

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Rafidain launches the ATM service for the first time


 Baghdad / Zahraa al-Jassim 

For the first time, Rafidain Bank launched an electronic ATM to withdraw money from any place, which is considered by an economist as an important step in the right direction, albeit small, while stressing that it will reduce the costs and time spent by the customer to deal with banks, and reduce the need of citizens to accumulate funds in homes, Pointed out that the Central Bank is preparing for a large and comprehensive program for the dissemination of electronic means in the banking sector.
On 5-12-2016, the Central Bank of Iraq (CBE) launched the National Bank, which allows the credit card holder issued by any government and private bank to withdraw money from any ATM machine spread throughout the country. While this credit mechanism was applied to the Iraqi Trade Bank and four private banks Baghdad, the Middle East, Ashur and Al Ahli, but did not implement them in the bank of Rashid and Rafidain, where criticized the experts in the money and economics, especially since the world started to operate this service since the start of the ATM. 
Al-Madaa Bank has announced the opening of an international ATM service center to provide excellent banking services to citizens and employees for the purpose of withdrawing their funds when needed. "This step also limits the risk of different segments Of citizens to thefts that the money they carry through this card will not be visible. "
"The Central Bank has for some time adopted a program to disseminate electronic means in payments," said economist Ahmed Breihi. "The Rafidain Bank was basically a supporter of this program. The Central Bank is continuing to use more electronic means in the sector. The bank, as it is considered important and worthy of attention, we see that the intention with the so-called reduction of the time required to deal with banks and reduce the time of transactions, which means converting the currency Cache for electronic transactions security, it also facilitates the conversion of currency to another currency, not to mention the pace of transfers in B N accounts, all of these operations gradually take place electronically concatenate, and consequently reduced costs.
The Iraqi market is characterized by a small number of citizens who have bank accounts, which gives banks a large margin to attract thousands of customers, especially as Iraqis are looking for a full package of services ranging from current accounts to insurance services and mortgages, which are not in the Iraqi market offers many On the other hand, where many citizens were seeking to deposit their money in private banks. He pointed out that this step also has other results. When a person has access to the currency at any time, he should reduce his need to retain it, P Al-Mada newspaper, which focused most of its reports on the need to reduce the retention of the currency in favor of increasing the balances of bank accounts, and Al-Mada had many reports that urged the banking sector to deal with electronic systems.
"Yes, it's a small step in a big program to develop the banking sector, but the big steps for the development of the economy are the accumulation of steps, albeit small, but the overall result will be great. Everyone would say that bank customers spend a lot of time in their reviews. The time required to review the citizen to the banks, and at the same time when the customer spends time is an additional cost, and on the question of whether the citizen can deal through this card outside Iraq, confirms Prehi: We first have to look at the terms of use of this card, and here when the Rafidain Bank to increase its assets De correspondent banks abroad when the customer can that use this card, but we say it is a step in all cases the right and the right direction.
Al-Rafidain Bank said in a statement that it launched the ATM service in Iraq, and that it will be through the adoption of the electronic payment card (Master Card and other payment card) held by the citizen to withdraw his money anywhere. 
The Master Card is a global card issued in cooperation with various economic institutions. It is distributed under the MasterCard brand, which is one of the three major brands of cards approved worldwide. The credit granted to cardholders is controlled by the issuing financial institution, Master Card.



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