Invitations to activate the electronic payment system

by lonelyintexas Mon 09 Nov 2015, 4:04 pm

lonelyintexas: Interacting Investor; Posts : 4285
Join date : 2012-12-19
Location : San Antonio

Post n°1

Invitations to activate the electronic payment system

by lonelyintexas Mon 09 Nov 2015, 4:04 pm

Invitations to activate the electronic payment system

8/11/2015 0:00

Baghdad, Omar Abdel-Latif

stressed the Finance Committee in the House of Representatives on the importance of the work of electronic payment that would activate the banking sector in Iraq and cut off roads in front of bribes system and restore some public money to the state treasury, while reduced private banks, the Commonwealth of the importance of the reservations that preceded the implementation of this the system.

and ended the Central Bank of Iraq and on the lips maintain relationships all integration and interconnection of national PBX with several points of the technical requirements (TBI Bank, Bank of the UNESCO, funds company, Middle East Bank), confirming its readiness for the actual starting and it's waiting to end the supplementary stages of tests to payments are made local e-cards, and it also will be settled through the RTGS system.

A member of the Committee for the mass change of Kurdistan Masud Haider Rustam, told the «morning»: that this system significantly contribute to the activation of the banking sector in Iraq, and will restore confidence between the citizen and the banks, adding that this in place is not in the developed European countries only, but in the neighboring like Iran and Turkey states the system.

He said Rustam this system «quantum leap» in banking transactions, stressing that it will save the state the issue of currency demand and facilitate the exchange through electronic cards, which will contribute to restore some of the money General to the state treasury.

In spite of the many features contained in this system, but the Iraqi banks questioned the possibility of the success of the system (electronic payment), who called him the Central Bank of Iraq, indicating that the Iraqi particularly both private banks are not eligible to work in this system because of debt experienced by, and did not They can put it so far, as well as the lack of new deposits, both of citizen or government agencies, as well as current country conditions to which the bank's activities.

However, the Executive Director of the Association of private banks to Tariq, played down the importance of these reservations, noting that reduce Corruption is the most prominent Maihtwe this system when it runs during the next phase.

said Tariq «morning»: The «project is still in its early stages», adding that «of the priorities of the work of this program is to increase the deal according to information technology with banks», noting that this It will facilitate the issue of reports between them and the central bank is working to reduce the process of corruption is very large because the transaction processes and payment will be borne out electronic and the use of electronic cards, which will reduce the cash trading in

the market.

He described the Executive Director of the Association of private banks this project as a step forward, if completed.

It consists device Iraqi banking of 54 banks, including seven state-owned one of them an Islamic newly established, there are 23 commercial banks, special, including an Islamic nine.

There are also 15 branches of foreign banks, and there are many institutions that do some banking, including 34 company money transfer, and nearly 200 companies Exchange subsidiaries of banks or dealing with the banks, with the Loan Guarantee Company and to finance small and medium enterprises, as well as two companies for services of electronic banking and smart card, in addition to nearly 800 branch subsidiary banks spread over Iraqi provinces.

Some believe that the activation of electronic payment would system limit to the largest amount of staff dealing with money (the employee does not see the money, but see the numbers), Fees and fines paid electronically, because the reduction of touching the employee for money provides the time and effort and reduces corruption.

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

This is another good one.
Thanks
LIT
yes