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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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    The use of POS devices, start-up and future prospects

    Rocky
    Rocky
    Rocky
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    • Post n°1

    The use of POS devices, start-up and future prospects Empty The use of POS devices, start-up and future prospects

    Post by Rocky Wed 07 Jun 2023, 5:17 am

    The use of POS devices, start-up and future prospects

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    The digital transformation in the banking sector using electronic payment techniques in financial and commercial transactions is one of the most prominent developments led by the Central Bank and implemented by banks. With what was stated in the government program to develop banking work and proceed with plans for financial inclusion and digitization of banking transactions in a manner that meets international standards and specifications in force at the international level. 
    While we support the decision of the Council of Ministers in this regard and stress the need for strict adherence to the authorities in charge of implementing the decision in accordance with the procedures and mechanisms specified in the paragraphs of the decision, we must, on this occasion, clarify the efforts made and are being made by the Central Bank since its launch of the technical revolution for digital transformation in the banking sector since 2016 in implementation For the objectives of his first and second strategy and until the present time in achieving banking reform and development and with determination and high confidence in the ability of the Iraqi financial and technical cadres working in the Central Bank to overcome the challenges of the technical gap in the information systems that Iraq suffered from due to the repercussions of the blockade, wars, terrorism and instability during the period of the information revolution. Where the Central Bank was able to overcome the challenges of digital transformation and development in banking technologies, establish infrastructure in banks, and lead an advanced system of payments at the level of the state's financial system.
    It is certainly an important national effort for the employees of the Central Bank and banks, and this comes due to the procedures and developments that the Central Bank has taken, and to stand in the right direction in the darkest economic conditions that our country suffered from, and to draw a sound road map to catch up with technical developments in the countries of the world. 
    The Central Bank and the banking sector believe that the decision of the Council of Ministers is moving in a direction and steps consistent with the strategy of the Central Bank in digitizing and developing daily financial, banking and commercial transactions with the latest developments, developments and standards in the developed countries of the world in this field, and on 1/6/2023 some ministries began contracting with payment companies On the other hand, technical discussions with specialists in the Central Bank and electronic payment companies in the private sector are continuing with the aim of securing the foundations, standards and technical infrastructure and the availability of the necessary number of POS devices, including covers the required need. 
     Great educational, media and advertising efforts are also being made to spread banking awareness among citizens of the importance and positive aspects of electronic payment at the individual and community level, because the banking culture of citizens using this modern technical means to move from cash payment to payment in this manner is very weak, in addition to the poor knowledge and ways of stimulating the owners of malls or shops. And services, entities and areas that can use this type of daily financial and banking transactions.
    As well as the urgent need to develop communication services and facilitate the use of Internet services, therefore, governmental support is required for the process of expanding the use of electronic cards and points of sale by obliging the ministries to cooperate with the Central Bank of Iraq. Business completion and facilitation of all routine procedures also requires providing incentives to service providers and providing banking facilities such as exempting them from taxes, especially since they waived their commissions for a period of 6 months.
     


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    Added 06/07/2023 - 10:27 AM
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