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Trade Bank of Iraq reduces the amount of cash insurance for credit card [Visa and Master Card]

yota691

By yota691,
in Iraq & Dinar Related News

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yota691 Grand Master

yota691

Posted
Posted

Trade Bank of Iraq reduces the amount of cash insurance for credit card [Visa and Master Card]

Monday, 23 December / 2 January 2012 12:40

[baghdad - where]

Decided Trade Bank of Iraq to reduce the amount of cash allocated to the insurance issue cards [Visa] to 250 thousand dinars instead of the amount the previous 500 thousand dinars.

A statement of the bank received by all of Iraq [where] that "the Trade Bank of Iraq has decided to reduce the amount of insurance money allocated to the issue price of the card [Visa Card - Master Card] to 250 thousand dinars instead of the price of the old 500 thousand dinars and to promote the use of credit cards for the largest slice of Iraqi society. "

And issued the Trade Bank of Iraq for the first time in Iraq, the credit card with benefits and discounts world will be in the near future issuance of Gold Card [Visa] for all citizens, but in dollars and to issue cards [MasterCard] dedicated to university students and uses of the Internet.

This will Trade Bank of Iraq to distribute POS retail [pos] in all governorates of Iraq, where he managed the hardware card holder credit from Visa and MasterCard] local or foreign to conduct the procurement process and payment of these devices and also the invitation to all departments, hotels and shops to impose Ottaghzém that hardware.

Will be deployed ATMs in most halls Baghdad International Airport to withdraw cash from Visa Card, Master Card, world wars and in the currency of the dinar and the dollar.

Called on the Trade Bank of Iraq to the government and private banks to obtain the membership of the two [Visa] and [MasterCard] global basis [Associate Member] under the auspices of the Trade Bank of Iraq. Finished.

http://translate.google.com/translate?hl=en&sl=ar&tl=en&u=http%3A%2F%2Fwww.alliraqnews.com

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moneysoon Explorer

moneysoon

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Glad to see that the financial institutions are looking at what makes most cents (pun intended). If Gov and private banks are strongly considering what is the best price basis for services then surely they are also discussing valuation.

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Stryker365 Newbie

Stryker365

Posted
Posted (edited)

I'm not liking this part at all but I hope I'm wrong.......

Quote;

Will be deployed ATMs in most halls Baghdad International Airport to withdraw cash from Visa Card, Master Card, world wars and in the currency of the dinar and the dollar.

We have all read last week or a few weeks ago......these weeks keep flowing together lately......anyway.. that the ATM's were being put into place but the project stopped for some unknown reason. Well the stopping is not my point here but in that article it said the ATM's would transact both currencies...the IQD and the USD.....this article is saying the same thing too.......

Now this is why I don't like this .....if the CBI was going to dedollarrize why would they need the ATM's to be able to withdraw both currencies?

I know some of you want to just hit the neg, button and move on but we need to look at the good and bad in these articles and maybe someone can tell me a good reason they need both currencies in the ATM's and we can all move on........all that know me.. know what side of the fence I stand on and for those that are new....its the RV side but this makes me go hmm.

I think I just answered my question..........CBI stated that the two currencies would co-exist for two years......now I feel better...posting it anyway just in case someone else was wondering the same thing or can tell me I'm wrong either way....

Edited by Stryker365
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Stryker365 Newbie

Stryker365

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I agree Stryker...hummm and when I hear them talk about the two currencies co-exist I had always seemed to think the high denoms and then new ones that are supposedly coming out

You know me too......just had second cup of coffee....we still need to think this one out then.....don't you think?

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yota691 Grand Master

yota691

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Posted (edited)

I'm not liking this part at all but I hope I'm wrong.......

Quote;

Will be deployed ATMs in most halls Baghdad International Airport to withdraw cash from Visa Card, Master Card, world wars and in the currency of the dinar and the dollar.

We have all read last week or a few weeks ago......these weeks keep flowing together lately......anyway.. that the ATM's were being put into place but the project stopped for some unknown reason. Well the stopping is not my point here but in that article it said the ATM's would transact both currencies...the IQD and the USD.....this article is saying the same thing too.......

Now this is why I don't like this .....if the CBI was going to dedollarrize why would they need the ATM's to be able to withdraw both currencies?

I know some of you want to just hit the neg, button and move on but we need to look at the good and bad in these articles and maybe someone can tell me a good reason they need both currencies in the ATM's and we can all move on........all that know me.. know what side of the fence I stand on and for those that are new....its the RV side but this makes me go hmm.

I think I just answered my question..........CBI stated that the two currencies would co-exist for two years......now I feel better...posting it anyway just in case someone else was wondering the same thing or can tell me I'm wrong either way....

maybe due to what one needs, if a small amount of money say a $20 bill we have one bill, but saying if was $200 that alot IQD, see my point.

Edited by yota691
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oma Newbie

oma

Posted
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Since it says the airport ATMs will have both IQD and USD, perhaps it is for the purpose of international travel, as the USD is the most internationally accepted currency. There is no mention of ATMs outside of the airport having dollars. Possibly?

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Stryker365 Newbie

Stryker365

Posted
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Since it says the airport ATMs will have both IQD and USD, perhaps it is for the purpose of international travel, as the USD is the most internationally accepted currency. There is no mention of ATMs outside of the airport having dollars. Possibly?

Another good point but the other article that I talked about said the were already at Trade Bank, all their branches and were being installed all over Iraq....

But it could be as simple as the USD will just go away and the ATM's get reprogrammed...

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oma Newbie

oma

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Another good point but the other article that I talked about said the were already at Trade Bank, all their branches and were being installed all over Iraq....

But it could be as simple as the USD will just go away and the ATM's get reprogrammed...

Ahhhh, I see. Somehow I missed you making this point. I'm on your page now. Thanks.

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Stryker365 Newbie

Stryker365

Posted
Posted

The more you need the bigger suitcase you need, i was using those figure as a example.

Someone stated not long ago and I found it funny too.......I have used it several times to make my point, sorry I stole your joke.. :D

It would take an ATM the size of a house to hold enough dinar at the current rate...... :lol::lol:

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yota691 Grand Master

yota691

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Posted (edited)

ATM machines has nothing to do with the RV. No ATM machine will help the RV process or slow it down.

:o you need to realize the need to get update with the rest of the world, an this is part of the process, so your statement is actually not true.

Edited by yota691
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Stryker365 Newbie

Stryker365

Posted
Posted

:o you need to realize the need to get update with the rest of the world, an this is part of the process, so your statement is actually not true.

Nice response yota.........what would it madder anyway....not all the news is about the RV but it may point to the end of this journey.

This one is tho.....like yota said progress.....credit cards.....Gold card for international.....

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Sector Newbie

Sector

Posted
Posted

Nice response yota.........what would it madder anyway....not all the news is about the RV but it may point to the end of this journey.

This one is tho.....like yota said progress.....credit cards.....Gold card for international.....

Maybe you are misunderstanding me. From I'm getting you are saying that in order for the RV to happen they must have ATM machines? The only thing I said was ATM machines will not help or hurt the process of the RV. Of course they will progress in Iraq but in regards to the RV I don't see where a ATM machine comes in to play.

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Carrello Rising Star

Carrello

Posted
Posted (edited)

You know me too......just had second cup of coffee....we still need to think this one out then.....don't you think?

For me this was great news. It told me there would be 1:1. ATMs don't make change. We just needs the lower denominations.

ATM machines has nothing to do with the RV. No ATM machine will help the RV process or slow it down.

We know that. An ATM machine is simply a tool. One thing it shows is how close they for implementation. Are the banking regulations and plans for ease of use for the public in place. Part of the initial success will be dedollarization, and getting the people to use the banks and accessories that go with it: phone banking, direct deposit, ATMs, Smart Card use.............

Edited by Carrello
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Stryker365 Newbie

Stryker365

Posted
Posted (edited)

Maybe you are misunderstanding me. From I'm getting you are saying that in order for the RV to happen they must have ATM machines? The only thing I said was ATM machines will not help or hurt the process of the RV. Of course they will progress in Iraq but in regards to the RV I don't see where a ATM machine comes in to play.

Here read it again and tell me where I state that we need these ATM's to RV, please I would like to know;

You will not because I'm pointing out dedollarrization not the need for ATM's for an RV.....and by the way I did not misunderstand you at all but it sure looks to me that all you want is to argue about silly ATM's.....I even point out in my post to yota that not everything is about the RV...

.................nice post #5 tho.......that's me being sarcastic....don't want you too misunderstand me...

Here it is again.....for your reading pleasure..

I'm not liking this part at all but I hope I'm wrong.......

Quote;

Will be deployed ATMs in most halls Baghdad International Airport to withdraw cash from Visa Card, Master Card, world wars and in the currency of the dinar and the dollar.

We have all read last week or a few weeks ago......these weeks keep flowing together lately......anyway.. that the ATM's were being put into place but the project stopped for some unknown reason. Well the stopping is not my point here but in that article it said the ATM's would transact both currencies...the IQD and the USD.....this article is saying the same thing too.......

Now this is why I don't like this .....if the CBI was going to dedollarrize why would they need the ATM's to be able to withdraw both currencies?

I know some of you want to just hit the neg, button and move on but we need to look at the good and bad in these articles and maybe someone can tell me a good reason they need both currencies in the ATM's and we can all move on........all that know me.. know what side of the fence I stand on and for those that are new....its the RV side but this makes me go hmm.

I think I just answered my question..........CBI stated that the two currencies would co-exist for two years......now I feel better...posting it anyway just in case someone else was wondering the same thing or can tell me I'm wrong either way....

Read more:

For me this was great news. It told me there would be 1:1. ATMs don't make change. We just needs the lower denominations.

We know that. An ATM machine is simply a tool. One thing it shows is how close they for implementation. Are the banking regulations and plans for ease of use for the public in place. Part of the initial success will be dedollarization, and getting the people to use the banks and accessories that go with it: phone banking, direct deposit, ATMs, Smart Card use.............

Hey, good morning Carrello.........some people make this none smoking a little harder than it should be........can you tell I'm running out of patients but ignore button is now on....

Edited by Stryker365
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unirod Apprentice

unirod

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Posted

Why couldn't the ATM'S have the technical ability to exchange USD for IQD or vice versa? they could also access the Mastercard / Visa credit lines for cash withdrawl. If they are deployed down every hall at the Int'l airport , it would serve as a convenience to travelors.

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