It claims the development of the banking system and make cash trading electronically

It claims the development of the banking system and make cash trading electronically

2016-03-16

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BAGHDAD / JD / .. at a time when the country faces great challenges various levels, especially in the field of security, which have increased in recent cases of theft of money, escalated claims by experts and specialists in the financial and economic affairs to develop the banking system in Iraq and make money trading in the electronic market through encourage citizens to open a current account in the bank and are traded through the "Visa" card, similar to some of the world and the region, noting that this system which has many advantages, including the protection money from the robbery and ease of trading and transfer money, in addition to support the banking sector liquidity through deposits.

He says an expert on financial affairs on behalf of al-Tamimi, said that despite government attempts to support the Iraqi banking sector, but the banking system in Iraq, his work is limited still lacks a lot of advantages possessed by international banks, because some of the challenges facing the country in general and the economic situation is particularly .

He told / KD /: The College witnessed by the Economic Iraq in light of its adoption of economic changes on the major source of national income, which oil revenues also affected the work of the Iraqi banking system, so the country is suffering from the economic recession due to lack of vital economic sectors could compete sector oil, and therefore there is a significant role for the banking sector.

He said in addition to the lack of mutual trust between the citizen and the banks, especially after the announcement of some banks in recent bankruptcy, what made some people fear the loss of their money.

Tamimi pointed out that the government and central bank, demanding the issuance of instructions and controls encourage through which the citizen governmental and non-governmental institutions to deal with local banks, as well as work on salary payments through the ironing out of the question card as well as the promotion of work Visa Card card transactions in the local market.

For its part, the parliamentary finance committee confirmed, that the banking system in Iraq greatly evolved from what it was in the past, but mistrust still exists between the citizen and the banks, citing the need to encourage citizens to deal with the banks over bid farewell to their money and open a current account cash trading.

A member of the committee MP Masood Haider told / KD /: that most of the countries of the world and even the countries in the region exceeded the cash trading phase in the markets and shopping malls, but electronically traded through the Visa Card, as well as salary payments by card to card.

He said that it has many advantages, including the protection money from the robbery as well as the ease of monetary circulation in the market and to ensure the receipt of the timing exact salaries of employees as well as to support the banking sector liquidity, which will make it perform tasks of work, and all this will pour the interests of the country and the Iraqi economy and its citizens, calling on the government and central bank to encourage citizens to work with.

The economic expert Majid picture confirmed at the time of the above, that the Iraqi banking system consists of 54 banks, including seven state banks, one of which a newly established Islamic .23 special commercial bank 0.9 Islamic banks, 15 branches of foreign banks. As well as a representative office of a foreign bank and one. There are many institutions that do some banking, of which 34 money transfer company, and about 2,000 affiliated banks foreign exchange company, with the loan guarantee, Inc. for the financing of small and medium enterprises, with the two companies for the services of electronic banking and smart card, in addition to about 800 branch belonging to the banks and spread over All of Iraq's provinces. / End / 8 /