Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content
  • CRYPTO REWARDS!

    Full endorsement on this opportunity - but it's limited, so get in while you can!

  Rafidain: Submission to the predecessor of the state employees electronically and from branches of the bank exclusively


yota691
 Share

Recommended Posts

  • yota691 changed the title to Rafidain Bank announces the salaries of employees of the Sunni Endowment
826.jpg
Rafidain Bank
 
 

Economy News Baghdad:

Rafidain Bank announced on Saturday the payment of salaries of employees of the Sunni Endowment in Baghdad and the provinces.

The bank's media office said in a statement received by "Al-Iktissad News" that "the bank paid the salaries of employees of the Sunni Endowment Bureau and its other formations as well as the departments of several provinces of Wasit, Maysan and Muthanna after the arrival of their sukuk. Electronic payment ".

 

Views 85   Date Added 29/07/2017

  • Upvote 4
Link to comment
Share on other sites

Why does everyone think the ATMs can't use 000 notes? The average citizen has/makes very little money. I don't go to an ATM to draw out huge amounts nor do they. If I need $60 that's 3/ $20's. If they need $60 equivalent ( which I doubt very many there can draw out that much) they will get 3/ 25,000 notes. It's not that big of a problem. Same situation with the mastercard. They can travel and pull out in any foreign currency. They won't use Dinars out of country. Everything can function right where they are on rate until such time as they dollarize then change the rate then de-dollarize. 

  • Upvote 3
  • Downvote 1
Link to comment
Share on other sites

  • yota691 changed the title to Rafidain launches the salaries of employees of the universities of Anbar and Hamdaniyah
 
Sunday 30 July

 

Search Bigger
 
 
 

Alsumaria News / Baghdad 
announced Rafidain Bank , Sunday announced the launch of the University of Anbar Hamdania staff salaries, noting that the distribution via one of the electronic payment tools. 

The bank's media office said in a statement received by Alsumaria News, a copy of it, that "the bank fired the salaries of employees of the presidents of Anbar University and the University of Hamdania, one of the formations of the Ministry of HigherEducation and Scientific Research." 

The bank said that "the bank began to distribute the salaries of employees of those universities after the arrival of sukuks of their amounts from their departments, noting that the distribution was through an electronic payment tool."

  •  

It is noteworthy that the Ministry of Higher Education has instructed the universities of Anbar and Hamdaniyah to begin the official time after the liberation of the two provinces of the organization of a supporter.
  • Upvote 3
Link to comment
Share on other sites

On 7/29/2017 at 6:43 AM, Integrativedoc said:

Why does everyone think the ATMs can't use 000 notes? The average citizen has/makes very little money. I don't go to an ATM to draw out huge amounts nor do they. If I need $60 that's 3/ $20's. If they need $60 equivalent ( which I doubt very many there can draw out that much) they will get 3/ 25,000 notes. It's not that big of a problem. Same situation with the mastercard. They can travel and pull out in any foreign currency. They won't use Dinars out of country. Everything can function right where they are on rate until such time as they dollarize then change the rate then de-dollarize. 

Because some idiot guru said the ATMs could only dispense bills that were physically smaller in size.. imagine how big of an idiot I looked like when I told that to my Kurdish friend and he laughed at me.. He said the ATMs dispense Dinar or USD, your choice.. Most people use USD for big purchases and Dinar for smaller purchases, but both currencies are in ATMs and have been since he was there in 2010.

  • Upvote 10
Link to comment
Share on other sites

4 hours ago, GregHi said:

Because some idiot guru said the ATMs could only dispense bills that were physically smaller in size.. imagine how big of an idiot I looked like when I told that to my Kurdish friend and he laughed at me.. He said the ATMs dispense Dinar or USD, your choice.. Most people use USD for big purchases and Dinar for smaller purchases, but both currencies are in ATMs and have been since he was there in 2010.

Thanks GregHi, we need more of our own contacts and less from hear say. 

  • Upvote 2
Link to comment
Share on other sites

Release date: 2017/7/30 17:07 • 108 times read
Rafidain releases the salaries of employees of some departments of education
(Baghdad: Al-Furat News) Rafidain Bank announced the release of salaries of the staff of the presidency of Anbar University and the presidency of the University of Hamdania one of the formations of the Ministry of Higher Education and Scientific Research.
The bank's information office said in a statement received by the agency {Euphrates News} a copy of it today that "the bank began to distribute salaries of employees of these universities after the arrival of sukuks of their amounts from their circles." 
"The distribution was done through an electronic payment tool," he said
  • Upvote 2
Link to comment
Share on other sites

Good Morning Yota and DV. Thank you for the latest update. Not sure if this has already been asked and answered, but now that they are getting paid on their e-cards are they being paid on a new updated rate in country or the current exchange rate. Thanks!

  • Upvote 2
Link to comment
Share on other sites

  • yota691 changed the title to Rafidain pays the salaries of employees of some departments of the Ministry of Industry
Editorial date: 2017/8/1 10:13 • 142 times read
Rafidain pays the salaries of employees of some departments of the Ministry of Industry
[Ayna-Baghdad] 
Rafidain Bank announced the disbursement of salaries of some departments of the Ministry of Industry and Minerals.
The bank's media office said in a statement received by the agency all of Iraq [where] a copy of it that "the bank has fired the salaries of some departments of the Ministry of Industry and Minerals after the arrival of the instruments of their departments to the bank." 
He explained that the departments are "Ibn Sina factory, Nahrawan factory, Al-Badr factory, Al-Ramah factory and Samarra pharmaceutical factory." He pointed out that "the drainage was through one of the electronic payment tools."
  • Upvote 1
Link to comment
Share on other sites

01-08-2017 01:00 PM
image.php?token=de55bb615b1a81b96aa303c09d5563b3&size=
 


 

 

Rafidain Bank announced the disbursement of salaries of some departments of the Ministry of Industry and Minerals. 

The bank's information office said that 'the bank has launched the salaries of some departments of the Ministry of Industry and Minerals after the arrival of the instruments of their departments to the bank'. 

He explained that the departments are 'Ibn Sina factory, Nahrawan plant, Al-Badr factory, Al-Ramah factory and Samarra pharmaceutical factory', pointing out that 'exchange was done through one of the electronic payment tools'.

  • Upvote 3
Link to comment
Share on other sites

  • yota691 changed the title to Al-Rafidain holds the public pension responsible for delayed payment of salaries in August
 
Wednesday, 2 August
 
 
Search Bigger
 
 

Alsumaria News / Baghdad 
carrying Rafidain Bank , Tuesday, public pension body responsible for delayed civilian pensioners ' salaries for the month of August last exchange, stressing that it will begin immediately to pay salaries to retirees if the arrival of their instruments. 

The bank's information office said in a statement received, Alsumaria News, a copy of it, "The bank is an executive and therefore is committed to the timing of the payment of salaries of retirees immediately upon arrival from the Pension Authority in accordance with the mechanisms and banking contexts followed."

 

The office added that "the bank is distributing immediately upon receipt of the payroll from the retirement agency with the instrument covered by the condition of the availability of the balance is then raise the salaries electronically and disbursed," noting that "his work is limited to raising the amounts sent to him upon the arrival of the instruments of the Pension Authority and thus pay salaries immediately to pensioners "He said. 

At the beginning of each month, the Rafidain and Rashid Bank pays the salaries of the employees and the military after receiving notification and feeding the amounts from the General Pension Department to the two banks.
  • Upvote 1
Link to comment
Share on other sites

  • yota691 changed the title to Rafidain reveals the reasons for delayed payment of salaries of retirees
Date of release: 2017/8/5 8:36 • 484 times prescribed
Rafidain reveals the reasons for delayed payment of salaries of retirees
(Baghdad: Al-Furat News) attributed the Rafidain Bank causes delays in the payment of salaries of civilian retirees for the month of August so far for lack of access lists and statements of names and statements by the Pension Authority.
The media office of the bank said in a statement received by the agency {Euphrates News} a copy of it today that "the delay is borne by the retirement commission that the Rafidain Bank, the implementation of the process of exchange has nothing to do with this delay." 
He pointed out that "the bank will be immediately after the arrival of Sukuk for retirees and feed the financial balance by retirement and disbursed immediately and without any delay."
  • Upvote 1
Link to comment
Share on other sites

826.jpg
Rafidain Bank
 
 

Economy News Baghdad: 

Attributed the Rafidain Bank, Saturday, the reasons for the delay in the payment of salaries of civilian retirees for the month of August so far because the arrival of lists and their names and statements by the Pension Authority.

Rafidain Bank said in a press statement received "economy News" a copy of it, "The delay borne by the Pension Authority that the Rafidain Bank an executive in the process of exchange has nothing to do with this delay."

The statement pointed out that "the bank will be immediately after the arrival of Sukuk for retirees and feed them financial balance by retirement and disbursed immediately and without delay."

 

Views 17   Date Added 05/08/2017

  • Upvote 1
Link to comment
Share on other sites

  • yota691 changed the title to Ahmed begins to pay the salaries of retirees for the month of August
 
Sunday, 6 August
 
 
Search Bigger
 
 

Alsumaria News / Baghdad
Announced the General Retirement Authority, on Sunday, the direct payment of salaries of retirees for the month of August this year. 

The body said in a statement received, Alsumaria News, a copy of it, "The Commission began to pay the salaries of retired citizens of the 2017 spring." 

"This includes smart card holders and cardholders." 

The General Pension Authority distributes the salaries of military retirees every two months in individual months, while distributing salaries to civilian retirees every two months for married months.

  • Upvote 1
Link to comment
Share on other sites

  • yota691 changed the title to Now retired citizens can receive their salaries for the month of August 2017 from the Rasheed Bank

Now retired citizens can receive their salaries for the month of August 2017 from the Rasheed Bank

06-08-2017
Readers
image.php?token=59fb22dec1373d91c9580c1fa91a5a6d&size=
 

Baghdad News -

 

 

The National Retirement Authority started on Sunday to pay the salaries of retired citizens for the 

2017 calendar year. A statement issued by the Authority said that the card holders of the card issued by the Rashid Bank can check the exchange centers to receive their salaries for 2017. 

The statement said that the manual exchange pensioners can review the banks on Monday to receive their salaries without mentioning the statement any further details.

  • Upvote 3
Link to comment
Share on other sites

2017/08/06 (00:01 PM)   -   Number of readings: 733   -   Issue (3988)
 
 
money and business




 

Rafidain: These causes of delayed payment of salaries of retirees 
attributed to the Rafidain Bank causes delays in the payment of salaries of civilian retirees for the month of August so far for lack of access lists and their names and statements by the Pension Authority. 
The media office of the bank in a statement received a long copy of it that "the delay borne by the Pension Authority that the Rafidain Bank is the executive in the process of exchange has nothing to do with this delay." 
"The bank will be immediately after the arrival of the Sukuk for retirees and fed the financial balance by retirement and disbursed immediately and without delay." 


Japanese loan for electricity projects in Iraq 
A statement by the Iraqi government on Saturday that Japan agreed to lend Iraq up to $ 195 million for the project Is contributing to the rehabilitation of a thermal power plant in the southern province of Basra 
Iraq is a major producer of oil in the Organization of «OPEC», but suffers from a chronic deficit in electricity. Its weak network faces difficulty in meeting demand after years of war, sanctions and neglect. 
Prime Minister Haidar al-Abadi's office said in a statement that the loan agreement was signed during a visit by Japanese Minister of State for Foreign Affairs Kontaro Sonora, who met with Abadi yesterday. 
Iraq needs external funding to fill the budget deficit, estimated at 25 trillion Iraqi dinars (21.44 billion dollars) this year at a time suffering from the decline in international oil prices and the cost of fighting the organization of the "Islamic State" (Dahesh). 


Government adviser reveals the existence of talks to resolve the Gulf debt 
The financial adviser to the Prime Minister, the appearance of Mohammed Saleh, on Saturday, the existence of talks to settle the Gulf debt and closing it completely, indicating that the Gulf debt amounts to 45.6, including compensation Kuwait. 
Saleh said in an interview with "Economic News" that " 
"The debt of the Gulf is 41 billion dollars, which is a sovereign debt owed to countries outside the Paris Club members and covered by the terms of the Paris Club Agreement," he said. " He added that" the Gulf countries did not demand debt and did not submit debt documents to the International Auditing Company E & Y since the Paris Club agreement at the end of 2004, "noting that" the debts of the Gulf are mostly fictitious claims and linked to the Iraq-Iran war. " 
He pointed out that" Compensation of the war of Kuwait is 4.6 billion and suspended payment of premiums since 2015 rates 5% was deducted from the value of each barrel of Iraqi oil source, "stressing that" there are consultations to settle this issue and close his file for a final. "

  • Upvote 2
Link to comment
Share on other sites

1649.jpg
 
 
 

Rafidain Bank on Monday stressed its keenness to provide the best services to retirees, employees and citizens in general.

The bank's information office said in a statement received by "Economy News", that the bank sometimes pays from its assets to retirees before the arrival of Sukuk amounts of retirement.

The statement pointed out that the bank is not concerned with the exchange of accusations promoted by some parties and the media, stressing the focus on developing the work of the banking sector in accordance with the vision to lead and achieve stability and financial coverage and sustainable economic development and achieve the strategic location of the bank.

The Rafidain Bank has attributed on Saturday, the reasons for delayed payment of salaries of civilian retirees for the month of August so far for lack of access lists and their names and statements by the Pension Authority.

 

Views 12   Date Added 07/08/2017

  • Upvote 1
Link to comment
Share on other sites

Date of release: 2017/8/7 11:17 • 127 times read
Rafidain Bank "distancing itself" from the accusation of delayed salaries of retirees
[Ayna-Baghdad] 
Rafidain Bank stressed its keenness to provide the best services for retirees and employees and citizens in general.
The bank's information office said in a statement received by the agency All Iraq [where] a copy of it that "the bank sometimes pays from its assets to retirees before the arrival of Sukuk amounts of retirement." 
He pointed out that the bank is not interested in the exchange of accusations promoted by some parties and the media , "stressing" the focus in the development of the work of the banking sector according to deliberately looking to lead and to achieve financial stability and inclusiveness , sustainable economic development and the achievement of the strategic location of the bank. " 
It is said that public pension body often What Rafidain Bank bears late payment of salaries but the bank denies this and confirms that the Authority is delayed to hand over the payroll of the eligible and secure the amount of the instrument covered.
  • Upvote 1
Link to comment
Share on other sites

  • yota691 changed the title to Rafidain: the salaries of employees of some departments and institutions of the state
09-08-2017 11:20 AM
image.php?token=e500e1465a4e310c42f8d09940a4c782&size=
 


 

 

Rafidain Bank announced the disbursement of salaries of some departments and state institutions. 

The bank's information office said that the bank has launched the salaries of the employees of the Ministry of Industry and Minerals, Sugar Factory and the Ministry of Higher Education and Scientific Research, the presidency of Nineveh University and the Ministry of Oil, the Arab Company for Detergent Chemicals. 

He pointed out that 'disbursement was done through one of the electronic payment tools, after the arrival of Sukuk for their amounts from their circles'.

  • Upvote 1
Link to comment
Share on other sites

Editorial date: 2017/8/9 8:17 • 124 times read
Rafidain pays the salaries of employees of state departments
[Ayna-Baghdad] 
Rafidain Bank announced the disbursement of salaries of some departments and state institutions.
"The bank has released the salaries of employees of the Ministry of Industry and Minerals - the sugar factory and the Ministry of Higher Education and Scientific Research - the presidency of the University of Nineveh and the Ministry of Oil - the Arab Company for Detergent Chemicals", the media office of the bank said in a statement. 
He pointed out that "the disbursement was made through one of the electronic payment tools, after the arrival of sukuks of their amounts from their departments."
  • Upvote 1
Link to comment
Share on other sites

  • yota691 changed the title to Iraq is accelerating the transition to paying employees' salaries electronically

Iraq is accelerating the transition to paying employees' salaries electronically

 

  • The steps of the Iraqi government to move towards the payment of salaries of employees electronically, within the framework of an integrated program, experts say it will contribute to increase the activity of the banking sector and raise the efficiency of payments and reduce the handling of cash and will have positive economic repercussions.

The Arabs  feather.png[published in 2017/08/11, number: 10719, p. 10]

_116272_ee3.jpg

A rapid decline in currency trading

BAGHDAD - The Iraqi government is struggling to expand its dependence on electronic payment cards to give employees salaries, paving the way for reduced paper currency transactions.

The government in Baghdad has adopted a plan to implement the project to pay all salaries electronically, and hopes to complete it fully in 2020.

The project means the transfer of salaries of employees in the public and private sectors of salaries received in cash from their departments, to be received from government or private banks.

The process is supposed to be done through a special account opened to the employee in the bank and withdraw from it by electronic payment card or withdraw money from the bank in cash.

Iraqi experts and officials say the system is rampant in many countries as the banking sector expands its business and services.

They pointed out that the implementation of the project will contribute greatly in reducing the time and effort and cost in the transactions of banks and transactions of citizens of various financial, in addition to reducing the handling of cash.

The appearance of Mohammed Saleh, financial adviser to Prime Minister Haider Abadi, that the project to settle salaries is in accordance with plans set for him by the government.

_150238537114.jpg

Mohammed Saleh's appearance: The project aims mainly at raising the efficiency of the payment system and activating the banking sector

 

He explained that the project includes several objectives, including raising the efficiency of the payment system and revitalizing the banking sector through the granting of loans and diversification of other services.

"Keeping cash inside and not trading in the market leads to a huge loss of up to 8 percent of GDP, which is estimated at $ 12 billion," he said.

"The salaries of state employees, retirees and social welfare constitute 50 percent of the state budget, equivalent to 25 percent of gross domestic product, an important gateway to make their salaries online," he said.

The number of Iraqis who receive salaries and pension pensions, along with monthly subsidies about seven million people. The government hopes to introduce them to electronic payment cards before 2020, while accurate figures are not available for the private sector.

Saleh believes that financial coverage is the biggest way to control government spending because it will lead to a shift from manual payment to electronic payment, as well as knowledge of those who trade cash.

There are 19 public, private and foreign banks involved in the process of settling salaries, and the number of employees in the public sector, who earn about four million and one million employees in the private sector.

"The plan expires in 2020 and about 5 million Iraqis are now between employees and retirees as well as social benefits using the card to get their salaries," he said.

The public sector employees annually receive more than 35 trillion dinars (27.5 billion dollars), according to a previous statement to the spokesman of the Ministry of Planning and Development Cooperation Abdul Zahra al-Hindawi.

_150238540813.jpg

Ali Tarek: Opening bank accounts for employees this week will begin within the project of localization of salaries

 

Ali Tariq, executive director of the Association of Private Banks in Iraq, says the work is still underway in the project to settle salaries of employees, which aims to develop the banking sector.

He pointed out that it was agreed with the Ministries of Health and Electricity and will begin opening accounts for employees during the current week, pointing out that the shopping process will be through credit cards without any deduction, and can be used ATMs deployed in the country.

The World Bank is closely monitoring with the federal government in Baghdad the issue of settling salaries because it increases the level of economic activity.

The director of payments at the Central Bank, Duha Abdulkarim, stressed that the project of settling salaries, which was called for by the Council of Ministers and recommended for its implementation, was taken into consideration and of great importance by the Central Bank.

She pointed out that the Central Bank was the first to implement the project to settle salaries to its employees and the experiment was successful. "The bank has received significant guarantees from the banks to work on the project to settle salaries and any bank will be held accountable for the distribution of salaries of employees."

The Ministry of Electricity, in a statement recently that the Iraqi Trade Bank of the government will issue "MasterCard" for the staff of the ministry free of charge once in the case of opening an account within the bank, and the second time the cost of the issuance of $ 32 in case of loss.

The bank will set up ATMs at the Ministry's headquarters to pay employees salaries on time when the information is sent to the bank by the ministry. The salary of the employee will be two thousand dinars (less than two dollars), regardless of its value.

She explained that the employee has the right to withdraw his salary from any ATM outside the headquarters of the Ministry and bear the cost of less than 3 dollars, if the bank outside the framework of the Iraqi Trade Bank.

  • Upvote 4
Link to comment
Share on other sites

1 hour ago, yota691 said:

Iraq is accelerating the transition to paying employees' salaries electronically

 

  • The steps of the Iraqi government to move towards the payment of salaries of employees electronically, within the framework of an integrated program, experts say it will contribute to increase the activity of the banking sector and raise the efficiency of payments and reduce the handling of cash and will have positive economic repercussions.

The Arabs  feather.png[published in 2017/08/11, number: 10719, p. 10]

_116272_ee3.jpg

A rapid decline in currency trading

BAGHDAD - The Iraqi government is struggling to expand its dependence on electronic payment cards to give employees salaries, paving the way for reduced paper currency transactions.

The government in Baghdad has adopted a plan to implement the project to pay all salaries electronically, and hopes to complete it fully in 2020.

The project means the transfer of salaries of employees in the public and private sectors of salaries received in cash from their departments, to be received from government or private banks.

The process is supposed to be done through a special account opened to the employee in the bank and withdraw from it by electronic payment card or withdraw money from the bank in cash.

Iraqi experts and officials say the system is rampant in many countries as the banking sector expands its business and services.

They pointed out that the implementation of the project will contribute greatly in reducing the time and effort and cost in the transactions of banks and transactions of citizens of various financial, in addition to reducing the handling of cash.

The appearance of Mohammed Saleh, financial adviser to Prime Minister Haider Abadi, that the project to settle salaries is in accordance with plans set for him by the government.

_150238537114.jpg

Mohammed Saleh's appearance: The project aims mainly at raising the efficiency of the payment system and activating the banking sector

 

He explained that the project includes several objectives, including raising the efficiency of the payment system and revitalizing the banking sector through the granting of loans and diversification of other services.

"Keeping cash inside and not trading in the market leads to a huge loss of up to 8 percent of GDP, which is estimated at $ 12 billion," he said.

"The salaries of state employees, retirees and social welfare constitute 50 percent of the state budget, equivalent to 25 percent of gross domestic product, an important gateway to make their salaries online," he said.

The number of Iraqis who receive salaries and pension pensions, along with monthly subsidies about seven million people. The government hopes to introduce them to electronic payment cards before 2020, while accurate figures are not available for the private sector.

Saleh believes that financial coverage is the biggest way to control government spending because it will lead to a shift from manual payment to electronic payment, as well as knowledge of those who trade cash.

There are 19 public, private and foreign banks involved in the process of settling salaries, and the number of employees in the public sector, who earn about four million and one million employees in the private sector.

"The plan expires in 2020 and about 5 million Iraqis are now between employees and retirees as well as social benefits using the card to get their salaries," he said.

The public sector employees annually receive more than 35 trillion dinars (27.5 billion dollars), according to a previous statement to the spokesman of the Ministry of Planning and Development Cooperation Abdul Zahra al-Hindawi.

_150238540813.jpg

Ali Tarek: Opening bank accounts for employees this week will begin within the project of localization of salaries

 

Ali Tariq, executive director of the Association of Private Banks in Iraq, says the work is still underway in the project to settle salaries of employees, which aims to develop the banking sector.

He pointed out that it was agreed with the Ministries of Health and Electricity and will begin opening accounts for employees during the current week, pointing out that the shopping process will be through credit cards without any deduction, and can be used ATMs deployed in the country.

The World Bank is closely monitoring with the federal government in Baghdad the issue of settling salaries because it increases the level of economic activity.

The director of payments at the Central Bank, Duha Abdulkarim, stressed that the project of settling salaries, which was called for by the Council of Ministers and recommended for its implementation, was taken into consideration and of great importance by the Central Bank.

She pointed out that the Central Bank was the first to implement the project to settle salaries to its employees and the experiment was successful. "The bank has received significant guarantees from the banks to work on the project to settle salaries and any bank will be held accountable for the distribution of salaries of employees."

The Ministry of Electricity, in a statement recently that the Iraqi Trade Bank of the government will issue "MasterCard" for the staff of the ministry free of charge once in the case of opening an account within the bank, and the second time the cost of the issuance of $ 32 in case of loss.

The bank will set up ATMs at the Ministry's headquarters to pay employees salaries on time when the information is sent to the bank by the ministry. The salary of the employee will be two thousand dinars (less than two dollars), regardless of its value.

She explained that the employee has the right to withdraw his salary from any ATM outside the headquarters of the Ministry and bear the cost of less than 3 dollars, if the bank outside the framework of the Iraqi Trade Bank.

Thanks Yota! And Good Morning. So..... The salary is two thousand dinars(less than two dollars) but it costs you 3 dollars to get the money out the bank? Common ATM fee which is understandable. So my conclusion is either this is a complete waist of resources for these people, or even better they are about to increase the purchasing power of the IQD!

  • Upvote 3
Link to comment
Share on other sites

Report .. Electronic payment removes the "dinar" from pockets of personnel in Iraq

12662.jpg?watermark=4
 

Economy     access_time 2017/08/10 12:24  Number of readings:

 

 

Baghdad today - follow-up

Al-Arabi newspaper published a report in which it said that there are efforts by the Iraqi government to expand the dependence on electronic payment cards (ATM), to give employees salaries, which paves the way for reducing the deal in paper currency "dinar".

"The Baghdad government is adopting a plan to implement the" digitization "of salaries, hoping to complete them in 2020," the report says.

The "settlement of salaries" means disbursing directly through banks instead of delivery to employees in the workplace, through a special account opened to the employee at the bank and drawn by the electronic payment card, or receipt in cash.

The newspaper quoted experts and officials that "the system is widespread in many countries of the world with the expansion of banking business and services, and with the increasing volume of electronic transactions, it had to be applied."

They pointed out that "the application will contribute to reduce the time and effort and cost, in the transactions of banks and transactions of citizens of different financial, in addition to reducing the handling of cash and risk."

The process of "settling salaries" 19 government and private banks and foreign. The number of employees in the public sector who earn their salaries by cards is about four million to one million in the private sector.

The mass of wages in Iraq 35 trillion dinars (27.5 billion dollars), according to earlier statements of Abdul Zahra Hindawi, spokesman for the Ministry of Planning and Development Cooperation.

The number of Iraqis earning salaries and pensions, along with monthly benefits of about 7 million, is estimated to be expected by the government before 2020, while accurate figures on the private sector are not available.

The Iraqi Electricity Ministry said in a statement that the Iraqi Trade Bank (Hukoomi) will issue "MasterCard" cards to ministry employees free of charge once if an account is opened inside the bank. The second time the cost of the issue will be 40 thousand dinars (32 dollars) if lost.

The ministry added that the Iraqi Trade Bank will set up ATMs at the Ministry of Electricity to pay employees salaries on time when the information is sent to the bank by the ministry. The salary of the employee will be 2000 Iraqi dinars (less than two dollars) for the total salary, regardless of its value.

She explained that the employee has the right to withdraw his salary from any ATM outside the headquarters of the ministry, and bear the cost of less than 3 dollars, if the bank outside the framework of the Iraqi Trade Bank.

In a press statement last March, Christine Goz, head of the International Monetary Fund's mission to Iraq, said Iraq needed more reforms to create fiscal space for overall growth, boost the business environment, reduce corruption and reform the banking sector to support growth. Led by the private sector, and diversification into the economy.

He pointed out that the sharp drop in oil prices caused the decline of the total international reserves of Iraq, and that the total public debt rose from 32% to 64% of GDP in the period from 2014 to 2016, and slowed growth in credit and increased non-performing loans at the state-owned banks and banks Especially during the past year.

Source (New Arab + Anatolia).

  • Upvote 1
Link to comment
Share on other sites

5 minutes ago, chris2028 said:

Thanks Yota! And Good Morning. So..... The salary is two thousand dinars(less than two dollars) but it costs you 3 dollars to get the money out the bank? Common ATM fee which is understandable. So my conclusion is either this is a complete waist of resources for these people, or even better they are about to increase the purchasing power of the IQD!

Completely makes sense. There has to be a bigger plan..

  • Upvote 1
Link to comment
Share on other sites

  • yota691 changed the title to   Rafidain: Submission to the predecessor of the state employees electronically and from branches of the bank exclusively
  • Adam Montana locked this topic
Guest
This topic is now closed to further replies.
 Share

  • Recently Browsing   0 members

    • No registered users viewing this page.



×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.