[size=35][size=35]Central Bank contracts with international auditing firm in New York[/size]
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2024-08-31 | 09:44
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A statement by the bank, received by Sumaria News, stated that "the delegation headed by the Governor of the Central Bank, Ali Mohsen Al-Alaq, to the United States of America, discussed the use of electronic payment cards and ways to organize and stimulate their use in line with Iraq's trend towards electronic payment."
The statement added that "this came during separate meetings with a group of companies such as (Visa, Mastercard and MoneyGram), as the international auditing company (KPMG) presented an extensive analytical presentation of the uses of these cards, reinforced with recommendations and proposals to enhance organized use and accommodate the significant increase in citizens' use of these cards."
The parties gathered, according to the statement, "during the negotiations praised the important steps in enhancing banking sector reforms, most notably the contract that the Central Bank of Iraq delegation concluded with the company (Oliver Wyman) to conduct a comprehensive review of the conditions of Iraqi banks, especially banks prohibited from dealing in the US dollar, as the company will work to develop practical solutions to reintegrate these banks into the Iraqi and international banking sector, in addition to improving the level of banks' procedures in line with international standards."
The bank indicated that "this initiative aims to facilitate the process of establishing direct banking relations, and improve the quality and type of services provided by banks to serve the Iraqi economy, as the company is scheduled to start its work in the coming period."
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2024-08-31 | 09:44
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The Central Bank of Iraq announced today, Saturday, that it has contracted with an international company to develop solutions for banks banned from using the dollar.
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A statement by the bank, received by Sumaria News, stated that "the delegation headed by the Governor of the Central Bank, Ali Mohsen Al-Alaq, to the United States of America, discussed the use of electronic payment cards and ways to organize and stimulate their use in line with Iraq's trend towards electronic payment."
The statement added that "this came during separate meetings with a group of companies such as (Visa, Mastercard and MoneyGram), as the international auditing company (KPMG) presented an extensive analytical presentation of the uses of these cards, reinforced with recommendations and proposals to enhance organized use and accommodate the significant increase in citizens' use of these cards."
The parties gathered, according to the statement, "during the negotiations praised the important steps in enhancing banking sector reforms, most notably the contract that the Central Bank of Iraq delegation concluded with the company (Oliver Wyman) to conduct a comprehensive review of the conditions of Iraqi banks, especially banks prohibited from dealing in the US dollar, as the company will work to develop practical solutions to reintegrate these banks into the Iraqi and international banking sector, in addition to improving the level of banks' procedures in line with international standards."
The bank indicated that "this initiative aims to facilitate the process of establishing direct banking relations, and improve the quality and type of services provided by banks to serve the Iraqi economy, as the company is scheduled to start its work in the coming period."
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