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Central announces the establishment of the National Payments Councill
06/6/2018 12:00 am [rtl]To make the private sector contribute to determining the future vision Baghdad / Sabah The Central Bank of Iraq announced yesterday the establishment of the National Payments Council in order to build a close relationship between stakeholders with the financial and banking sector. The Governor of the Central Bank, Dr. Ali Alalak, the first meeting of the National Payments Council, which includes the Central Bank of Iraq and government banks and the Association of Iraqi private banks and electronic payment companies and representatives of the security services and the Iraqi market for securities and the media and communication and the Ministry of Finance. A statement from the Central Bank of Iraq confirmed the importance of this council "to build a strong relationship between the stakeholders with the financial and banking sector, noting that the Council did not start until after the availability of the basic rule for the construction of technical infrastructure And legal systems of payments in Iraq ". "The council will be the guide that evaluates and monitors the payment systems through the participation of visions and proposals by members of the council," he said. Members of the Board of Directors also welcomed the start of its work, expected to contribute to the support of electronic payment projects by drawing up a national strategy for payments and overcoming the obstacles facing the work of the beneficiaries of these systems. Payments Systems has been a guest representative of the meeting of the World Bank that " the National Payments Council , a step forward, especially as there are 40 percent of the world 's central banks have established councils of payments in their countries, expected to contribute through international participations support payments systems in Iraq." For its part, praised the Association of Iraqi private banks, the establishment of the Central Bank Council of National Payments, which will increase the provision of banking services . "The establishment of the National Payments Council is a very important step that will make the private sector an important factor in determining the future vision, strategy and achieving banking reforms," said Wadih al-Hanalal, head of the Iraqi Private Banking Association. In addition to increased coordination and cooperation with internal and external banking authorities and institutions of government. " Banking environment and added that" the National Payments Council , its goal is also to pursue and develop the legal banking environment that contribute to the application and development of payment systems , settlement and means of payment. " He explained that" the National Council of payments functions based support The infrastructure of the payment system, which is in line with the recommendations of the Basel Committee for Payment and Settlement, the International Monetary Fund, the World Bank and others. "He added that" the National Payments Council will follow up clearing systems and the Depository and Transfer Center to settle transactions in the stock market and Contribute to the development of electronic payment methods . "[/rtl] [rtl][You must be registered and logged in to see this link.] [/rtl] |
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