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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Iraq Finance Conference..Electronic payment is the most important axes of strengthening the financia

    Rocky
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    • Post n°1

    Finance - Iraq Finance Conference..Electronic payment is the most important axes of strengthening the financia Empty Iraq Finance Conference..Electronic payment is the most important axes of strengthening the financia

    Post by Rocky Mon 04 Jul 2022, 10:09 am

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    Monday 04 July 2022 [You must be registered and logged in to see this link.]
     Baghdad: morning 
    The participants in the Iraq Finance Conference confirmed the acceleration of developments in the field of electronic payment, which represents an important axis in strengthening the financial market, which needs our banking sector to develop the reality of its work and achieve a qualitative leap that helps attract major investments to the country, especially in light of the cooperation of the Ministry of Finance. and the Central Bank of Iraq. Participants also focused on the need to benefit from successful global experiences.
    Deputy Prime Minister and Minister of Finance Dr. Ali Allawi stressed that "the efforts are continuing to reform the public banking sector, advance the private banking sector, and reduce the dominance of the public sector over the economy," pointing out "the need to benefit from global experiences that have achieved great successes in this field, including the experience The Chinese, which dealt with the financial sector in particular, empowered it and made it a destination for advanced global companies that entered and contributed to raising the gross domestic product to a level considered the highest in the world, and achieved a revenue that is unique in its kind.
    As for the Deputy Governor of the Central Bank of Iraq, Dr. Ammar Khalaf, he said: “The banking sector, since 2019 has witnessed remarkable developments, as assets grew by 19% and deposits by 18%, in addition to the expansion of financing initiatives that have a major role in the movement of the local market, which touched 18 trillion dinars.
    Khalaf pointed out that "bank accounts exceeded 70 million in Iraqi banks, and the number of electronic cards exceeded the barrier of 14 million cards," noting that "the local market was supplied with 1,500 ATMs until mid-2021, and electronic wallets amounted to 2 million wallets by mid-2022." .
    He stressed that "the strategy for developing electronic payment and financial inclusion requires the cooperation of all relevant parties," noting that "the development of electronic payment represents one of the most important paths for the advancement of the Iraqi banking system, especially since the Central Bank has an ambitious strategy to develop this important joint in order to build a healthy financial sector." .
    The Executive Director of the Association of Iraqi Private Banks, Ali Tariq, stressed the inevitability of “there is a belief among everyone in the importance of reaching high levels in the issue of electronic payment, which has achieved a boom in the country, but the ambition is that there will be a complete transition from paper-based transactions to electronic ones, which in turn makes the market Money is different, and secure technology is adopted that reflects an ideal image in front of the advanced global effort that the country needs to develop the joints of the national economy.”
    Tariq urged "the banking system to give the issue of electronic payment great privacy and attention, commensurate with the country's need for advanced banking technologies, and to follow up on global developments in this important juncture."
    In turn, the Executive Director of the Iraq Gate Company, which organizes the exhibition, Ahmed Al-Jader said: "The aim of organizing this conference is to [You must be registered and logged in to see this link.] the efforts of the government and the financial sector, to keep pace with developments in the field of electronic payment." The development of work and performance within the Iraqi banking system, which is looking forward to adopting the best banking technologies in the world in order to reduce the gap between the Iraqi financial system and the rapid developments in the financial sector in the developed world in the field of electronic payment.
    The international participation was present in the e-payment specialist from the Kingdom of Morocco, Youssef Prada, who said: “The world is witnessing a great development in the digital field and digital payments, and changes have accelerated due to the Corona pandemic, which prompted global institutions to develop performance, pointing out that “expectations indicate that payment Electronic mail is expected to grow 13% annually due to the interactions that 
    the international market.”
    He pointed out, "The inevitability of providing electronic services to the largest segment of society, and that the payment within the labor market should be freely and more streamlined, commensurate with the lifestyle of each segment, especially since the Corona pandemic has accelerated the emergence of new applications commensurate with the stage."
    Prada warned that "the size of the Iraqi economy is large and has a lot of strength, and the volume of consumption is large, and here it is necessary to develop the reality of electronic payment, which achieves a great financial return."
    As for the representative of the International Smart Card Company, Ghazi Al-Kinani, he pointed out that “electronic payment started in Iraq nearly 12 years ago and achieved great interaction between the citizen and the institutions specialized in this field, which facilitated financial transactions and secured receivables in a way that did not burden the beneficiary with great trouble, and eased the burdens of attendance.” To the banks and financial outlets through which he received his “electronic payment” dues, which contributes to the development of the services that are provided in order to gain the public’s confidence faster than it is, and to move towards the best among the institutions that provide this type of services.
    Ahmed Al-Alouji, representative of the Union Bank Joint Stock Company, described the exhibition as an important step and said: “Iraq must keep pace with the developments that the world is witnessing in the field of electronic payment, which has become adopted in Iraq, but without the level of ambition, as we find it in some places and did not find it in All outlets of sale and provision of services to citizens.
    Pointing out that "the reality of electronic payment needs intensive educational strategies targeting all segments of society to know how it spreads globally, and where the reality of electronic payment has reached, the mechanisms of its use and the levels of what the world has reached, which requires the concerted efforts of the government and the private sector in this field for greater education." A segment of citizens about the nature of the electronic card and its use locally and internationally.”
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