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


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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

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Issuing electronic cards to small merchants through this mechanism

    Rocky
    Rocky
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    electronic - Issuing electronic cards to small merchants through this mechanism Empty Issuing electronic cards to small merchants through this mechanism

    Post by Rocky Tue 23 Jan 2024, 4:09 am

    [size=35][size=35]Issuing electronic cards to small merchants through this mechanism[/size][/size]
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    Economy

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    01-23-2024 | 04:47
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    Al-Sumaria News - Economy

    An informed government source revealed, today, Tuesday, the approval of a mechanism for issuing electronic cards to small merchants, with a ceiling of one hundred thousand dollars per month.


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    The source said in an interview with Al-Sumaria News, “Based on the directives of the Prime Minister and in light of the discussions that took place between the government, the Central Bank of Iraq and electronic payment companies for more than two months, a mechanism for issuing electronic cards to small merchants was approved, with a ceiling of one hundred thousand dollars.” “Monthly to carry out payment operations for import purposes in a way that ensures reducing the demand for cash dollars by real merchants.”



    According to the source, the new mechanism includes:

    - Payment companies submit a request to the Central Bank to obtain approval to develop this product and launch the (merchant) card.

    - Determining the uses of the cards to be for small merchants in line with the external transfer controls issued by the Central Bank for the year 2023, provided that the ceiling for these cards is not to exceed (100) thousand dollars per month, with the possibility of raising the ceiling in the future in light of the results of the actual implementation.

    The cards are used for the purposes of purchasing goods and services from known suppliers according to pre-defined white lists.

    The company bears its duty to apply due diligence and in accordance with basic requirements, the most important of which are the main international ban lists of the United Nations, the Office of Foreign Assets Control and the European Union.

    Small merchants' funds are deposited in various Iraqi bank branches in Iraqi dinars.

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    Rocky
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    electronic - Issuing electronic cards to small merchants through this mechanism Empty Government source: Issuing electronic cards to small merchants according to a new 5-step mechanism

    Post by Rocky Tue 23 Jan 2024, 4:23 am

    Government source: Issuing electronic cards to small merchants according to a new 5-step mechanism
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    Baghdad today - Baghdad 
    Today, Tuesday (January 23, 2024), a government source revealed the issuance of electronic cards to small merchants worth one hundred thousand dollars per month, according to a new 5-point mechanism. 
    The source told "Baghdad Today", "Based on the directives of the Prime Minister and in light of the discussions that took place between the government, the Central Bank of Iraq and electronic payment companies for more than two months, a mechanism for issuing electronic cards to small merchants was approved."
    He pointed out that "it has a ceiling of one hundred thousand dollars per month for carrying out payment operations for import purposes, ensuring a reduction in the demand for cash dollars by real merchants." 
    He explained that "the new mechanism includes: 
    1- Payment companies submit a request to the Central Bank to obtain approval to develop this product and launch the (merchant) card.
    2- Determine the uses of the cards to be for small merchants in line with the external transfer controls issued by the Central Bank for the year 2023, provided that the ceiling for these cards is not to exceed (100) thousand dollars per month, with the possibility of raising the ceiling in the future in light of the results of the actual implementation.
    3- The cards are used for the purposes of purchasing goods and services from known suppliers according to pre-defined white lists.
    4- The company bears its duty to apply due diligence and in accordance with basic requirements, the most important of which are the main international ban lists of the United Nations, the Office of Foreign Assets Control and the European Union.
    5- The money of small merchants is deposited in the branches of various Iraqi banks in Iraqi dinars.
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