Banking commitment and the political position .. Ahmed Al-Hajj

[yota691]

The Central Bank is expanding its Salary Settlement Department

14/3/2018 12:00 am  For its role in providing capital to the banking system Baghdad / Hussein Thugb  The advancement of payments is the most important steps to develop financial systems in Iraq and catch up with the developments in the payment systems in the developed world, where the Iraqi Central Bank takes serious steps to move to make payment systems in the public and private sectors managed  Electronically.  Director General of Payments at the Central Bank of Iraq, said: "The desire of the Central Bank of Iraq to develop electronic payment mechanisms and in tune with global developments, where we work to spread advanced payment technologies in all regions of Iraq without exception, and include all transactions to the public and private sectors. The importance of the move pointed out that "the past few days have witnessed the organization of a workshop in the province of Maysan addressed the importance of moving to a system of payments developed, as well as the activation of points of sale targeted various segments of the community and employees of the province and some of its departments, as well as traders and owners of large markets (Malls), restaurants, hotels and others to activate Point of sale and in cooperation with the province of Maysan. " She pointed out that "the attendees listened to a detailed explanation on the importance of resettlement and the mechanism set by the Central Bank to implement the decisions of the Council of Ministers No. 313 of 2016 and 281 of 2017.  Freedom of choice  The governor of Maysan Ali Douai stressed during his speech at the opening of the workshop on "the importance of this step to be followed by a review of the status of the province in the settlement of salaries of employees," asserting "the freedom of the employee to choose according to his wishes based on the benefits provided by each bank and during the next week Each employee will choose the bank that he sees fulfilling his wishes to be followed by agreement with those banks and start settling salaries, declaring that he is the first to settle his salary in banks. Presentations All banks submitted their offers to the staff of the Diwan and other departments associated with the governorate and other departments. The Director General of Payments at the Central Bank, Subhi Abdul Karim, said: "Catching up with the global development is inevitable, especially the financial sector, which has become dependent on advanced systems benefiting from technological developments in the world, because it is commensurate with the requirements of the implementation of work, which cut time and effort much more than the previous . large proportion added, " the transformation of salaries and disbursed through electronic payment is an important turning positive to achieve great feasibility of the national economy and maintains a large proportion of liquidity in the banking system , " pointing out that "work is going to make the mechanics of electronic payments are made through the bank Central Iraq , Noting the existence of some previous attempts, but outside the central misleading. " Completion of operations  Director of Training and Management in the Association of Private Banks Ahmed Al Hashemi stressed "the importance of the direction of banks towards electronic banking and information technology, and be dealt with in a precise manner that leads to the completion of financial operations according to the requirements of the customer different, and thus we have to offer products compete that offer regionally   and internationally" .  He stressed that "global companies and the requirements of reconstruction require sophisticated technology, and Iraq is able to possess technology to produce sophisticated products, especially after the victories on the" calling "terrorist and the trend to develop the private sector technology in the detailed human resources   .

[Laid Back]

To get paid, you need to have a bank account to receive your salary electronically.

 

This means less cash in circulation

 

And the use of credit and debit cards will increase....ATM's and Point of sale

 

Go less cash in circulation 

Go electronic 

Go RV

Go $1:1

 

[yota691]

Iraq enters electronic banking to catch up with global development

Release date: 2018/3/14 8:35 • 275 times scheduled

(Baghdad: Al-Furat News) The advancement of payments is the most important steps to develop financial systems in Iraq and catch up with developments in the payment systems in the developed world.

The Central Bank of Iraq is taking serious steps to move to make public and private payment systems electronically managed. 
The bank stressed its desire to develop electronic payment mechanisms in line with global developments and to spread advanced payment technologies in all areas of Iraq without exception, including all transactions for the public and private sectors. 
He pointed out that the past days witnessed the organization of a workshop in the province of Maysan addressed the importance of moving to a system of payments developed, as well as the activation of points of sale targeted various segments of the community of the employees of the province and some of its departments, as well as traders and owners of big markets (Malls), restaurants, hotels and others to activate the subject of points of sale And in cooperation with the province of Maysan. 
He pointed out that the audience listened to a detailed explanation on the importance of resettlement and the mechanism set by the Central Bank to implement the decisions of the Council of Ministers.
The Governor of Maysan Ali Douai, during his speech at the opening of the workshop on "the importance of this step to be followed by a review of the status of the province in the settlement of salaries of employees," stressing "the freedom of the employee to choose according to his wishes based on the benefits provided by each bank and during the next week will choose all Employee of the bank who sees it fulfills his wishes to be followed by agreement with those banks and start settling salaries, declaring that he is the first to settle his salary in banks. 
All banks presented their offers to the staff of the Diwan and other departments associated with the governorate and other departments. 
It has become increasingly necessary to catch up with the global development, especially in the financial sector, which has adopted advanced systems benefiting from technological developments in the world, because it is commensurate with the requirements of the implementation of work, which has reduced the time and effort much more than before.
And that the transfer of salaries and disbursement through electronic payment is important and a positive shift to achieve great benefit to the national economy and maintain a large proportion of liquidity within the banking system. 
Work is being done to make electronic payment mechanisms through the Central Bank of Iraq. 
The director of training and management in the Association of Private Banks Ahmed al-Hashemi, "the importance of the direction of banks towards electronic banking and information technology, and be dealt with in a precise manner that leads to the completion of financial operations according to the requirements of the customer of different, and thus we have to offer competitive products provided regionally." 
He stressed that "global companies and the requirements of reconstruction require sophisticated technology, and Iraq is able to possess technology to produce sophisticated products, especially after the victories on the preacher and the terrorist approach to develop the private sector technology in the detailed human resources."

[blueskyline]

Thank You Yota . GM DV's . I cannot help but think banking is now completely ready . This seems to be major news 

[nannab]

 Yota and good morning blueskyline, DV 

We are getting there ! 

[10 YEARS LATER]

Perhaps this has already been accomplished and now the press release.  Seems from past experiences this is how they operate.

[Synopsis]

6 minutes ago, 10 YEARS LATER said:

Perhaps this has already been accomplished and now the press release.  Seems from past experiences this is how they operate.

 

I really agree with You, 10 Years Later, AND The Best Of Your Wednesday To You!!! 

 

Glad to see You are on top of things again and hope all that is behind You now!!! 

 

3 hours ago, yota691 said:

"the freedom of the employee to choose according to his wishes based on the benefits provided by each bank and during the next week will choose all Employee of the bank who sees it fulfills his wishes to be followed by agreement with those banks and start settling salaries, declaring that he is the first to settle his salary in banks. 

 

Looks like the banks have all been set up. It is now a matter of employees to choose the bank where their salaries would be deposited. The phrase "during the next week" is a little surprising since the volume of people that would set up bank accounts would seem to be quite large except that each bank branch level can handle the processing and their are a considerable amount of bank branches. So why "during the next week"???

 

We wait and see.

 

In the mean time..............................................

 

Go Moola Nova (YEAH, BABY!!!)!!!

[navira45]

I expect to see lower denoms to be distributed to the citizens there hopefully by next week.

[Butifldrm]

Electronic banking has been launched in Iraq

The advancement of payments is the most important steps to develop financial systems in Iraq and catch up with developments in the payment systems in the developed world.
The Central Bank of Iraq is taking serious steps to move to make public and private payment systems electronically managed.
The bank stressed its desire to develop electronic payment mechanisms in line with global developments and to spread advanced payment technologies in all areas of Iraq without exception, including all transactions for the public and private sectors.
He pointed out that the past days witnessed the organization of a workshop in the province of Maysan addressed the importance of moving to a system of payments developed, as well as the activation of points of sale targeted various segments of the community of the employees of the province and some of its departments, as well as traders and owners of big markets (Malls), restaurants, hotels and others to activate the subject of points of sale And in cooperation with the province of Maysan.
He pointed out that the audience listened to a detailed explanation on the importance of resettlement and the mechanism set by the Central Bank to implement the decisions of the Council of Ministers.
The Governor of Maysan Ali Douai, during his speech at the opening of the workshop on “the importance of this step to be followed by a review of the status of the province in the settlement of salaries of employees,” stressing “the freedom of the employee to choose according to his wishes based on the benefits provided by each bank and during the next week will choose all Employee of the bank who sees it fulfills his wishes to be followed by agreement with those banks and start settling salaries, declaring that he is the first to settle his salary in banks.
All banks presented their offers to the staff of the Diwan and other departments associated with the governorate and other departments.
It has become increasingly necessary to catch up with the global development, especially in the financial sector, which has adopted advanced systems benefiting from technological developments in the world, because it is commensurate with the requirements of the implementation of work, which has reduced the time and effort much more than before.
And that the transfer of salaries and disbursement through electronic payment is important and a positive shift to achieve great benefit to the national economy and maintain a large proportion of liquidity within the banking system.
Work is being done to make electronic payment mechanisms through the Central Bank of Iraq.
The director of training and management in the Association of Private Banks Ahmed al-Hashemi, “the importance of the direction of banks towards electronic banking and information technology, and be dealt with in a precise manner that leads to the completion of financial operations according to the requirements of the customer of different, and thus we have to offer competitive products provided regionally.”
He stressed that “international companies and the requirements of reconstruction require sophisticated technology, and Iraq is able to possess technology that produces sophisticated products, especially after the victories on the preacher of the terrorist and to develop the private sector technology in the detailed human resources.”

http://en.economiciraq.com/2018/03/14/electronic-banking-has-been-launched-in-iraq/

[10 YEARS LATER]

15 minutes ago, navira45 said:

I expect to see lower denoms to be distributed to the citizens there hopefully by next week.

 

Agreed - but does “ next “ week actually ‘ Next ‘ week, because to these folks “ next “ means  “ This “ ( present tense ) week. We’ll see Soon enough this meaning of “ next “

[10 YEARS LATER]

7 minutes ago, Butifldrm said:

Electronic banking has been launched in Iraq

The advancement of payments is the most important steps to develop financial systems in Iraq and catch up with developments in the payment systems in the developed world.
The Central Bank of Iraq is taking serious steps to move to make public and private payment systems electronically managed.
The bank stressed its desire to develop electronic payment mechanisms in line with global developments and to spread advanced payment technologies in all areas of Iraq without exception, including all transactions for the public and private sectors.
He pointed out that the past days witnessed the organization of a workshop in the province of Maysan addressed the importance of moving to a system of payments developed, as well as the activation of points of sale targeted various segments of the community of the employees of the province and some of its departments, as well as traders and owners of big markets (Malls), restaurants, hotels and others to activate the subject of points of sale And in cooperation with the province of Maysan.
He pointed out that the audience listened to a detailed explanation on the importance of resettlement and the mechanism set by the Central Bank to implement the decisions of the Council of Ministers.
The Governor of Maysan Ali Douai, during his speech at the opening of the workshop on “the importance of this step to be followed by a review of the status of the province in the settlement of salaries of employees,” stressing “the freedom of the employee to choose according to his wishes based on the benefits provided by each bank and during the next week will choose all Employee of the bank who sees it fulfills his wishes to be followed by agreement with those banks and start settling salaries, declaring that he is the first to settle his salary in banks.
All banks presented their offers to the staff of the Diwan and other departments associated with the governorate and other departments.
It has become increasingly necessary to catch up with the global development, especially in the financial sector, which has adopted advanced systems benefiting from technological developments in the world, because it is commensurate with the requirements of the implementation of work, which has reduced the time and effort much more than before.
And that the transfer of salaries and disbursement through electronic payment is important and a positive shift to achieve great benefit to the national economy and maintain a large proportion of liquidity within the banking system.
Work is being done to make electronic payment mechanisms through the Central Bank of Iraq.
The director of training and management in the Association of Private Banks Ahmed al-Hashemi, “the importance of the direction of banks towards electronic banking and information technology, and be dealt with in a precise manner that leads to the completion of financial operations according to the requirements of the customer of different, and thus we have to offer competitive products provided regionally.”
He stressed that “international companies and the requirements of reconstruction require sophisticated technology, and Iraq is able to possess technology that produces sophisticated products, especially after the victories on the preacher of the terrorist and to develop the private sector technology in the detailed human resources.”

http://en.economiciraq.com/2018/03/14/electronic-banking-has-been-launched-in-iraq/

 

Okay-this is it. Has been launched - thought so. Thanks “B” 

[10 YEARS LATER]

33 minutes ago, Synopsis said:

 

I really agree with You, 10 Years Later, AND The Best Of Your Wednesday To You!!! 

 

Glad to see You are on top of things again and hope all that is behind You now!!! 

 

 

Looks like the banks have all been set up. It is now a matter of employees to choose the bank where their salaries would be deposited. The phrase "during the next week" is a little surprising since the volume of people that would set up bank accounts would seem to be quite large except that each bank branch level can handle the processing and their are a considerable amount of bank branches. So why "during the next week"???

 

We wait and see.

 

In the mean time..............................................

 

Go Moola Nova (YEAH, BABY!!!)!!!

Hey there “S” - I’m feeling fine but there’s been 8 more small “rashes” that have appeared in the last week or so. Not out of the woods yet. Gone to a High Vitamin C plant food/Fish diet. Using a topical Vitamin C mixture on these “ rashes “  Cancer doesn’t like Vitamin C. It will take time for my body to absorb/assimilate the new diet/topical regimen.

Going back next week to get these issues sorted out.

 

Have a Great one and thank you. 

[Officiallytook]

4 hours ago, yota691 said:

The advancement of payments is the most important steps to develop financial systems in Iraq and catch up with developments in the payment systems in the developed world

 

[Synopsis]

57 minutes ago, 10 YEARS LATER said:

Hey there “S” - I’m feeling fine but there’s been 8 more small “rashes” that have appeared in the last week or so. Not out of the woods yet. Gone to a High Vitamin C plant food/Fish diet. Using a topical Vitamin C mixture on these “ rashes “  Cancer doesn’t like Vitamin C. It will take time for my body to absorb/assimilate the new diet/topical regimen.

Going back next week to get these issues sorted out.

 

Have a Great one and thank you. 

 

Pulling For You, 10 Years Later, Keep Us Posted!!! 

 

Go Moola Nova!

[dinarham]

i am familiar with ATM's in Europe  and the US of course .  Here we get 20's  ,at least I do . In euro you get 20's and 50's . No wonder Iraq is not printing 10k on down . These  notes do not jive with  ATM's . 

[CaptainBVI]

1 hour ago, 10 YEARS LATER said:

Hey there “S” - I’m feeling fine but there’s been 8 more small “rashes” that have appeared in the last week or so. Not out of the woods yet. Gone to a High Vitamin C plant food/Fish diet. Using a topical Vitamin C mixture on these “ rashes “  Cancer doesn’t like Vitamin C. It will take time for my body to absorb/assimilate the new diet/topical regimen.

Going back next week to get these issues sorted out.

 

Have a Great one and thank you. 

Mr. 10YL,

Glad to see you are improving.

I have some well researched locations that should help your transition to the, "New diet/tropical regime" post RV.

In reading on another thread where you were researching theoretical physics.

Michio Kaku has quite a few sequential books on this and related subjects and his writing style is very entertaining.

If nothing else, it keeps the mind sharp while waiting for this adventure to come to fruition.

Take care.

[Officiallytook]

5 hours ago, Synopsis said:

So why "during the next week"???

 

We wait and see.

Hoping it's because a change is coming the 21st of this month... or maybe 3 months from now

[Officiallytook]

4 hours ago, 10 YEARS LATER said:

Hey there “S” - I’m feeling fine but there’s been 8 more small “rashes” that have appeared in the last week or so. Not out of the woods yet. Gone to a High Vitamin C plant food/Fish diet. Using a topical Vitamin C mixture on these “ rashes “  Cancer doesn’t like Vitamin C. It will take time for my body to absorb/assimilate the new diet/topical regimen.

Going back next week to get these issues sorted out.

 

Have a Great one and thank you. 

Best of luck 10yrs, if I may suggest, a highly concentrated CBD/THC oil, or food? Must be absorbed or eaten to get into the blood stream to do major work repairs boosts immune white and red blood cells, after my father, I looked into heavy healthy quick solutions...and this is what I have found. Prayers up hope you pull through brother

[Floridian]

12 minutes ago, Officiallytook said:

Hoping it's because a change is coming the 21st of this month... or maybe 3 months from now

 

What is the significance of the 21st of this month?  Someone else on the board mentioned it too.  

Thanks.  

[Synopsis]

9 minutes ago, Officiallytook said:

Hoping it's because a change is coming the 21st of this month... or maybe 3 months from now

 

Hard to say, OfficiallyTook, AND The Best Of Your Rest Of Your Week To You!!! 

 

It seems, to some extend, the dam is heavily leaking with all the Good News especially after the 2018 budget passed through Parliament. The Kurdish regional airports are fast becoming international, the CBI taking over the Erbil and Sulaymaniyah branches, and other related Kurdish settlements seem to indicate things are well underway. I haven't seen anything lately on the CBI Mosul and the proposed Najaf branches so not sure what implications that has.

 

So, we wait and see!!!

 

Just now, Floridian said:

 

What is the significance of the 21st of this month?  Someone else on the board mentioned it too.  

Thanks.  

 

March 21 is their holiday of Nowruz which is the Persian New Year.

 

Could be somethin'. Could be nothin'.

 

The 90 day IMF monitoring of the MCPs (MultiCurrency Practices) will end about then, too, depending on when the monitoring started. The monitoring could have started late December of last year or could have began January 1 of this year.

 

Could be somethin'. Could be nothin'.

 

Go Moola Nova (YEAH, BABY!!!)!!!

[Floridian]

10 minutes ago, Synopsis said:

 

Hard to say, OfficiallyTook, AND The Best Of Your Rest Of Your Week To You!!! 

 

It seems, to some extend, the dam is heavily leaking with all the Good News especially after the 2018 budget passed through Parliament. The Kurdish regional airports are fast becoming international, the CBI taking over the Erbil and Sulaymaniyah branches, and other related Kurdish settlements seem to indicate things are well underway. I haven't seen anything lately on the CBI Mosul and the proposed Najaf branches so not sure what implications that has.

 

So, we wait and see!!!

 

 

March 21 is their holiday of Nowruz which is the Persian New Year.

 

Could be somethin'. Could be nothin'.

 

The 90 day IMF monitoring of the MCPs (MultiCurrency Practices) will end about then, too, depending on when the monitoring started. The monitoring could have started late December of last year or could have began January 1 of this year.

 

Could be somethin'. Could be nothin'.

 

Go Moola Nova (YEAH, BABY!!!)!!!

 

Thanks, Synopsis.

 

I just found this:  https://www.worldtravelguide.net/guides/middle-east/iraq/money-duty-free/

 

Look under "Currency" - it says $10,000.  I don't know how current this information is.  The other sites I found are still saying 100,000 dinars.

I guess it's the same thing, if the dinar is worth 10 cents.

 

 

Edited March 14, 2018 by Floridian

[Pitcher]

Let's see what happens the end of this quarter.  I'm expecting some big things worldwide.  

[nannab]

We would gladly help them celebrate the Persian New Year.  

Thank you so much Synopsis.  

[Floridian]

Just now, Pitcher said:

Let's see what happens the end of this quarter.  I'm expecting some big things worldwide.  

 

Worldwide?????  

 

What?

[Pitcher]

Thanks Floridian, keep digging, you're doing great.