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CBI News 04/17/2018


yota691
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BAGHDAD / 

The central bank announced on Tuesday that the data storage and processing of electronic payment companies will be inside Iraq. 

"In the light of the strategic plan of the Central Bank of Iraq to regulate electronic payment activities towards competition and non-monopoly and the transfer of foreign expertise to Iraq and to achieve the goal we aspire, it was decided to be processing and archiving data for electronic payment operations Inside Iraq ".

He explained that "the bank has licensed three local companies to provide electronic payment services, where processing data for all customers in their data centers inside Iraq so far." 

The statement added that "there are other companies in the process of obtaining licenses from the relevant authorities and the existence of requests from several foreign companies to open global branches in Iraq to work on all the processing and conservation within their centers inside Iraq exclusively." 

The Central Bank said that "in the case of the desire of foreign companies that will be licensed to work in Iraq to participate with local payment companies existing locally, the participation rate must not be less than 51% for the benefit of the local entity."
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The Central Bank decides to save data for electronic payment companies and process them inside Iraq

 

 Since 2018-04-17 at 14:31 (Baghdad time)

10-2.jpg

 

Baghdad - Mawazine News

The Central Bank of Iraq decided on Tuesday to save data to electronic payment companies and process them inside Iraq.

"In light of the strategic plan of the Central Bank of Iraq to regulate electronic payment activities in the direction of competition and non-monopoly and transfer of foreign expertise to Iraq and to achieve the goal we aspire to, this bank decided to process and save data on electronic payments Inside Iraq ".

The statement added that "three local companies were licensed to provide electronic payment services in which data processing for all customers in their data centers inside Iraq so far," noting that "there are other companies in the process of obtaining licenses from the relevant authorities and the existence of requests from several companies Foreign international to open branches in Iraq to work to be all the processing and conservation within its centers inside Iraq exclusively. "

The Central Bank said, according to the statement, that "in the case of wish to foreign companies that will be licensed to work in Iraq to participate with local payment companies located locally, the participation rate must not be less than 51% for the benefit of the local entity."

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Release Date: 2018/4/17 14:36 • 59 times read
The Central Bank decides to save data to electronic payment companies and process them within the country
(Baghdad: Al Furat News) The Central Bank of Iraq decided to process and save data on electronic payments within Iraq in light of the strategic plan of the Central Bank of Iraq to regulate electronic payment activities towards competition and non-monopoly and transfer of foreign expertise to Iraq.
"Three local companies have been licensed to provide electronic payment services in which data is processed for all customers in their data centers inside Iraq so far," a statement issued by the bank said. 
He added that "there are other companies in the process of obtaining licenses from the relevant authorities and the existence of requests from several foreign companies to open global branches in Iraq to work to be all processing and conservation within centers in Iraq exclusively." 
The statement pointed out that "in the case of the desire of foreign companies that will be licensed to work in Iraq to participate with local payment companies located locally, the participation rate must not be less than 51% for the benefit of the local entity."
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The Central Bank decides to save data for electronic payment companies and process them inside Iraq[/ltr]
[ltr]Economie[/ltr]
 Since 2018-04-17 at 14:31 (Baghdad time)
[ltr]10-2.jpg[/ltr]

[ltr]Baghdad - Mawazine News[/ltr]
[ltr]The Central Bank of Iraq decided on Tuesday to save data to electronic payment companies and process them inside Iraq.[/ltr]
[ltr]"In light of the strategic plan of the Central Bank of Iraq to regulate electronic payment activities in the direction of competition and non-monopoly and transfer of foreign expertise to Iraq and to achieve the goal we aspire to, this bank decided to process and save data on electronic payments Inside Iraq ".[/ltr]
[ltr]The statement added that "three local companies were licensed to provide electronic payment services in which data processing for all customers in their data centers inside Iraq so far," noting that "there are other companies in the process of obtaining licenses from the relevant authorities and the existence of requests from several companies Foreign international to open branches in Iraq to work to be all the processing and conservation within its centers inside Iraq exclusively. "[/ltr]
[ltr]The Central Bank said, according to the statement, that "in the case of wish to foreign companies that will be licensed to work in Iraq to participate with local payment companies located locally, the participation rate must not be less than 51% for the benefit of the local entity."[/ltr]




https://translate.google.com/translate?sl=auto&tl=en&js=y&prev=_t&hl=en&ie=UTF-8&u=http%3A%2F%2Fwww.mawazin.net%2F%D8%A7%D9%84%D8%AC%D8%A8%D9%88%D8%B1%D9%8A-%D9%8A%D8%AA%D9%88%D8%AC%D9%87-%D8%A7%D9%84%D9%89-%D8%A7%D9%8A%D8%B1%D8%A7%D9%86-%D8%A8%D9%86%D8%A7-%D8%B9%D9%84%D9%89-%D8%AF%D8%B9%D9%88%D8%A9-%D8%B1%D8%B3%D9%85%D9%8A%D8%A9%2F%D8%B3%D9%8A%D8%A7%D8%B3%D9%8A%D8%A9&edit-text=

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7 hours ago, yota691 said:

The Central Bank decides to save data for electronic payment companies and process them inside Iraq

 

 Since 2018-04-17 at 14:31 (Baghdad time)

10-2.jpg

 

Baghdad - Mawazine News

The Central Bank of Iraq decided on Tuesday to save data to electronic payment companies and process them inside Iraq.

"In light of the strategic plan of the Central Bank of Iraq to regulate electronic payment activities in the direction of competition and non-monopoly and transfer of foreign expertise to Iraq and to achieve the goal we aspire to, this bank decided to process and save data on electronic payments Inside Iraq ".

The statement added that "three local companies were licensed to provide electronic payment services in which data processing for all customers in their data centers inside Iraq so far," noting that "there are other companies in the process of obtaining licenses from the relevant authorities and the existence of requests from several companies Foreign international to open branches in Iraq to work to be all the processing and conservation within its centers inside Iraq exclusively. "

The Central Bank said, according to the statement, that "in the case of wish to foreign companies that will be licensed to work in Iraq to participate with local payment companies located locally, the participation rate must not be less than 51% for the benefit of the local entity."

I hope this is a good sign. Taking charge of the business process. 

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3427.jpg

Logo of the Central Bank of Iraq
  

 Banks


Economy News Baghdad:

The central bank announced on Wednesday that it should be processing and storing data on electronic payments within Iraq .

"In view of the strategic plan of the Central Bank of Iraq to regulate electronic payment activities towards competition and non-monopoly and the transfer of foreign expertise to Iraq, it was decided that the processing and preservation of data on electronic payment operations inside Iraq, " the central bank said in a statement received by the economy .

The statement added that "three local companies were licensed to provide electronic payment services in which the processing of data for all customers in their data centers within Iraq to date," referring to the efforts of international companies to obtain work permits from the relevant authorities, and that all processing and conservation within Centers in Iraq exclusively .

He explained that "in the case of the desire of foreign companies that will be licensed to work in Iraq to participate with local e-payment companies, the participation rate should not be less than 51% for the benefit of the local entity ."


Views 16   Date Added 18/04/2018

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Can someone explain this?

 

 

In light of the strategic plan of the CBI to regulate electronic payment activities towards competition and nonmonopoly and the transfer of foreign expertise to Iraq, CBI decided "the processing and preservation of data on electronic payments must be within Iraq." (CBI)

http://www.rs.iq/research_reports/preview/2018_04_20180419_RS_Daily.pdf

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I love this...folks u got to love this. CBI wants all exchages from bad notes to lower denoms inside iraq 'only' thru electronic payments. For us dinar holders, of course, we dont need to get in line with iraqi citizens to hand over our notes. We will be exchanging our notes here, where we are. Hopefully we get to that before this month ends. Smiley face

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4 minutes ago, Wiljor said:

It’s all good DV, we are moving in the right direction. :goodnews:

 

I certainly hope so Wiljor - woke up middle of the night wondering if we’ll ever get of this Roller Coaster. Just lately ( after 15 yrs. ) it’s wearing kinda thin.

Then again, last evening and for the first time I was looking at wallets, money belts, RFID passport holsters - found some very interesting designs for proper concealment on your person. :twothumbs:

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The processing and preservation of data on electronic payments must be within Iraq." (CBI)

 

The CBI don't want a third party company to manage the electronic payment data.

- to protect the data

- to keep control

- to prevent manipulation and corruption

 

Just my opinion.!

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3 hours ago, navira45 said:

I love this...folks u got to love this. CBI wants all exchages from bad notes to lower denoms inside iraq 'only' thru electronic payments. For us dinar holders, of course, we dont need to get in line with iraqi citizens to hand over our notes. We will be exchanging our notes here, where we are. Hopefully we get to that before this month ends. Smiley face:):):)

 

giphy.gif

 

PLEASE :praying:PLEASE :praying:PLEASE :praying:PLEASE :praying:PLEASE :praying:PLEASE :praying:PLEASE!!!!!!!!!!!!!

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5 hours ago, Laid Back said:

The processing and preservation of data on electronic payments must be within Iraq." (CBI)

 

The CBI don't want a third party company to manage the electronic payment data.

- to protect the data

- to keep control

- to prevent manipulation and corruption

 

Just my opinion.!

Sounds like a good opinion. :twothumbs:

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