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Ironing Card administration reveal the most important advantages of the new smart card


yota691
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07-03-2017 12:13 PM
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Regional Director for the company the southern region revealed (to Card), Firas al - Saffar, the smart card , and after the recent updates that have been added on them, has become has advantages card (Visa) and (the Master Car), which evolved to be a bank account to the card holder and the possible beneficiary could deposit funds in the bank and withdraw and transfer money and partially account to another through the electronic card. 

He said 'that among the advantages of the smart card is an online shopping and withdraw money via the card to Card from all the countries that have branches of the Rafidain Bank , including Jordan, Lebanon and the UAE. 

And on the security side and the possibility of protecting the card from the penetration, the representative of ironing card company that the smart one of the safest cards in the world being dependent live fingerprint of the hand and the eye of the holder system and do not do through the confidential figures vulnerabilities and thus be one of the most powerful systems dungeon and can not be manipulated , but through its owner Profile, like he said.

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9 minutes ago, 8th ID said:

This screams INTERNATIONAL all over it !!! :twothumbs:

Thanks Yota...once again a FINE JOB !!!!! :bravo:

When the vast majority of users will be inside the country?

Does Amazon deliver to Iraq? What about other International companies that are vital to the everyday person? Do they deliver inside and outside of Iraq? A lot more needs to be done to make things "international" and right now the dollar is their choice of international currency. Change that and things will eventually change on Iraq's timeline.

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Thank You, Yota, for this and all the other fabulous articles you tirelessly bring over! May your coffee cup always be filled with your favorite brew good, hot, and just the way you like it!!!

The article states (as Yota highlighted), "He said 'that among the advantages of the smart card is an online shopping and withdraw money via the card to Card from all the countries that have branches of the Rafidain Bank , including Jordan, Lebanon and the UAE."

Hmmm......... Is Rafidain Bank, an Iraqi Bank, already in Jordan, Lebanon, and the UAE (and elsewhere)? Online shopping? In what currency? Iraqi Dinar, Jordanian Dinar, Lebanese Pound, United Arab Emirates Dirham, USD, and/or other currency transactions? Are these test case countries for a wider deployment in other countries world wide?

I dunno. Looks suspiciously close to INTERNATIONAL IQD for the Iraqi citizen to me???!!!

Hey, even if the IQD is pegged to the USD as an intermediary currency to convert to other currencies, this conversion practice suggests to me the multiple currency practice for IQD conversion to USD is eliminated via the Visa and MasterCard being tied to a Iraq IQD bank standard conversion with standardized conversion spreads and not the exorbitant spread like in the IQD buy/sell from dealers in the US.

Just my opinion and :twocents:

Go Moola Nova!

:twothumbs:

 

Edited by Synopsis
Added Notation For Clarity Of Opinion
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Synopsis, I would think their pretty established in Iraq according to my research...lol

 

Rafidain Bank

From Wikipedia, the free encyclopedia
 
Jump to: navigation, search
Rafidain Bank
Government-owned corporation
Industry Banking
Founded Iraq , 1941
Headquarters Baghdad, Iraq
Products Financial Services
Website rafidain-bank.gov.iq

Rafidain Bank (Arabic: مصرف الرافدين‎‎) is the largest bank in Iraq, with 165 branches inside Iraq and with branches in Cairo, Beirut, Abu Dhabi, Bahrain, Sana'a, Amman and Jabal Amman. Its HQ is in central Baghdad. The bank was established in 1941 and in the 1960s in a wave of Ba'ath nationalisation became a state bank. In 1988, the Rafidain's non-performing assets were carved out into the Rasheed Bank.[1]

Before the First Gulf War, Rafidain Bank "was the Arab world’s largest commercial bank with total assets of USD 47 billion.".[1]

The Bank was very badly damaged by the first Gulf War and the economic sanctions against Iraq. These sanctions were behind the closure of Rafidain's London Branch in 1990. During the second Gulf War, the bank was again badly hit. It is estimated that around a third of Rafidain's branches were destroyed during the second Gulf War and that the bank lost around $300m USD through looting. Today, Rafidain Bank has around 45% of banking assets in Iraq.

In 2007, Bayan Jabor, the Iraqi Minister of Finance, signed a contract with British companies B-Plan Information Systems and Misys to rebuild the bank, in a turnkey contract to supply a core banking system, hardware, communications systems, and training to Rafidain Staff, across all branches inside and outside Iraq. This project will cover basic retail banking and trade finance but advanced banking functions such as ATM networks, Card Management and internet banking will be considered by the Ministry of Finance in later stages.

This project will represent the first commercial bank in Iraq to work on a modern electronic banking system and should be completed by the end of 2009.

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46 minutes ago, DoD said:

Synopsis, I would think their pretty established in Iraq according to my research...lol

 

Rafidain Bank

From Wikipedia, the free encyclopedia
 
Jump to: navigation, search
Rafidain Bank
Government-owned corporation
Industry Banking
Founded Iraq , 1941
Headquarters Baghdad, Iraq
Products Financial Services
Website rafidain-bank.gov.iq

Rafidain Bank (Arabic: مصرف الرافدين‎‎) is the largest bank in Iraq, with 165 branches inside Iraq and with branches in Cairo, Beirut, Abu Dhabi, Bahrain, Sana'a, Amman and Jabal Amman. Its HQ is in central Baghdad. The bank was established in 1941 and in the 1960s in a wave of Ba'ath nationalisation became a state bank. In 1988, the Rafidain's non-performing assets were carved out into the Rasheed Bank.[1]

Before the First Gulf War, Rafidain Bank "was the Arab world’s largest commercial bank with total assets of USD 47 billion.".[1]

The Bank was very badly damaged by the first Gulf War and the economic sanctions against Iraq. These sanctions were behind the closure of Rafidain's London Branch in 1990. During the second Gulf War, the bank was again badly hit. It is estimated that around a third of Rafidain's branches were destroyed during the second Gulf War and that the bank lost around $300m USD through looting. Today, Rafidain Bank has around 45% of banking assets in Iraq.

In 2007, Bayan Jabor, the Iraqi Minister of Finance, signed a contract with British companies B-Plan Information Systems and Misys to rebuild the bank, in a turnkey contract to supply a core banking system, hardware, communications systems, and training to Rafidain Staff, across all branches inside and outside Iraq. This project will cover basic retail banking and trade finance but advanced banking functions such as ATM networks, Card Management and internet banking will be considered by the Ministry of Finance in later stages.

This project will represent the first commercial bank in Iraq to work on a modern electronic banking system and should be completed by the end of 2009.

Thank You, DOD, for the Rafidain Bank information!

The article mentions the Rafidain's London Branch was closed in 1990. I may have been wrong, here, but I was thinking the international Rafidain branches were significantly paired outside of Iraq or all closed due to the Gulf Wars and devaluation of the IQD. Good to see I was incorrect and better to see these Rafidain branches operational now in other countries!

Thank You Again, DOD!

Go Moola Nova!

:twothumbs:

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