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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


    Among them is related to capital...economic questions haunting the work of digital banks

    Rocky
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    Among them is related to capital...economic questions haunting the work of digital banks Empty Among them is related to capital...economic questions haunting the work of digital banks

    Post by Rocky Mon 20 May 2024, 6:39 am

    Among them is related to capital...economic questions haunting the work of digital banks

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    Economy News = Baghdad
    Today, Monday, the economic expert, Mahmoud Dagher, raised several questions about the nature of digital banks in Iraq, while confirming that any bank can adapt its banking system to digital.
    Dagher said, in an exclusive interview with Al-Eqtisad News, “The digital bank is ultimately a bank with its banking operations, from cash and in-kind credit to deposits and borrowing, as well as all the activities associated with it, and it is an evolution in the banking system to complete digital operations.”
    He added: "As for compliance, combating the financing of terrorism and corruption, and oversight and auditing, they do not differ at all from existing banks. Rather, the responsibilities of the executive management and the Board of Directors continue and are also governed by the laws of the Central Bank, governance, and banks, in addition to the Anti-Money Laundering Law, as well as the instructions of the Central Bank."
    The economic expert explained: “Nothing will differ except that operations are conducted through applications, and even these banks have taken steps to establish them, that is, some banks have converted their operations to digital instead of face-to-face,” indicating that “any bank can adapt its banking system to digital in addition to the regular one.”
    He pointed out, "Central banks support and encourage this trend, and banks are also seeking to make their digital window wide, especially after the spread of applications and ATMs that withdraw and deposit."
    Dagher asked: “Why is the digital bank’s capital less than other banks? And why are there special instructions for the digital bank instead of incentives to support the digital window and voluntary transformation of digital systems as an option for banks?”




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