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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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    Al-Alaq: 70 digital banks have applied to the Central Bank for a license

    Rocky
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    • Post n°1

    Al-Alaq: 70 digital banks have applied to the Central Bank for a license Empty Al-Alaq: 70 digital banks have applied to the Central Bank for a license

    Post by Rocky Sun 15 Sep 2024, 4:48 am

    Posted on[You must be registered and logged in to see this link.] by [You must be registered and logged in to see this link.]

    [size=52]Al-Alaq: 70 digital banks have applied to the Central Bank for a license[/size]

    [size=45]The Governor of the Central Bank of Iraq, Ali Al-Alaq, revealed that 70 digital banks have submitted a license application to the bank, while indicating that digital banks are widespread in the world.[/size]
    [size=45]Al-Alaq said at the Electronic Payments Conference towards Financial Stability in Iraq: “Digital banks are widespread in the world, and the size of their funds ranges from 5 to 7 trillion annually.”[/size]
    [size=45]He added: “We conducted in-depth studies until we reached the point of setting rules for licensing these digital banks.”[/size]
    [size=45]He pointed out: “We were surprised by the number of applicants to digital banks, which reached 60 to 70 banks, and we are in the process of studying the applicants’ requests.”[/size]
    [size=45]He continued: “We are keeping up with developments and moving towards progress, and there is communication with many external and internal parties, and it is on two levels that depend on the banking sector and the capabilities of the Central Bank to keep up with development and contribute to developing various programs and applications,” stressing that “the Iraqi cadre is distinguished by its ability to adapt and develop.”[/size]
    [size=45]He pointed out that “the Central Bank has important contracts with specialized companies, and chooses international companies to develop and set up programs, in addition to international cooperation,” noting that “the Central Bank has effective relations with international and global banks, in addition to electronic payment companies, as well as its relationship with central banks, and it has continuous movement in cooperation with important banks.”[/size]
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