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Expert: Banks are required not to force retirees to change their payment cards

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26 minutes ago, ChuckFinley said:

For sure LB. They are moving forward at a pretty good clip.  

I have been noticing a sense of urgency to get important things done  

like you said, moving forward at a pretty good clip👍🏼

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 money and business


Economy News _ Baghdad

The Pension Authority announced on Thursday the immediate payment of the salaries of civilian and military retirees for the month of June 2019. It also confirmed the payment of end of service benefits to pensioners for the April 2019.

The Authority said in a statement read by "Economy News" that "the Commission began to pay the end of service reward for members of the former Iraqi army, who filed objections and accepted their objections with the completion of the disbursement of differences salaries of martyrs and victims of terrorism and the second installment of differences covered by the institution of prisoners. 
The statement said that "the salaries of retirees became monthly and as of June 2019, where the retired citizens receive their pensions, as follows: the February meal represents a monthly salary of the second and third, and the meal of Nissan represents the fourth and fifth month and now the salary of the sixth month. 
He added: "The military retirees received the pension as follows: the January meal represents the salary of the first and second month and March represents a monthly salary of the third and fourth and the June meal represents the salaries of the fifth and sixth month.
The Commission called on the retirees who did not receive electronic payment cards to "settle their salaries and receive electronic payment cards from the banks authorized to do so for the easy receipt of their pensions." 


Views 177   Date Added 05/30/2019

 
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Rafidain issued a statement on the salaries of civilian and military retirees

Economy | 10:16 - 31/05/2019

 
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BAGHDAD - 
Al-Rafidain Bank issued a statement on the salaries of civilian and military retirees and the mechanism of distribution monthly by e-card. 
"The salaries of civilian retirees for June were distributed through electronic payment tools," the bank said in a statement received by Mawazine News. "The salaries of civilian retirees for June were distributed according to what is indicated by the database of the retirement authority." 
The statement added that "this mechanism will be repeated every month and will receive retired military and civilian salaries monthly and high interest rates."

 
 
 
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image.php?token=36b774df769b7db9d08b5c1f2cf6f291&size=

 


 

01-06-2019 09:26 AM 
Number of Views: 29


Agency of the orbit -

Baghdad

Rafidain Bank announced on Saturday the launch of a new meal from the predecessor of the employees of the State Departments, which ranged between 3 and 5 and 10 million dinars through the MasterCard card International.

 

The bank's information office said in a statement received by Al-Madar that a new batch of state employees' employees had been paid to more than 1,200 employees whose salaries had been settled at the bank and received the electronic card.

 

The statement added that "the disbursement of this advance was through the customer's fingerprint and then notify the employee by sending him a text message informing him of the advance payment, after he completed all the legal procedures to grant it and disbursement through electronic payment tools,

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Editorial date: 2019/6/1 9:04 • 266 times read
Rafidain launches a new meal from the predecessor of state employees through Master Card
(Baghdad: Al-Furat News) Rafidain Bank, on Saturday, a new meal of the advance of employees of the State Departments, which ranged between 3 and 5 and 10 million dinars through the card MasterCard International.
The bank's information office said in a statement received by the {Euphrates News} a copy of it, that "a new batch of advances of State Department employees have been paid to more than 1200 employees whose salaries were settled at the bank and got the electronic card." 
The statement said that "the disbursement of this advance was through the customer's fingerprint and then notify the employee by sending him a text message informing him of the advance payment, after he completed all the legal procedures to grant it and disbursement through electronic payment tools, which was filled the financial balance to it."
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Important announcement on the dates of receipt of salaries of retirees for the month of June

31046.jpg?watermark=4
 
 

BAGHDAD, Iraq -

Because of the large number of contacts and inquiries, and why the Facebook pages on the subject of receipt of pension for the sixth month (June), where I dealt with the issue that there is a shortage of a month has not been received so we would like to show you the salary payment schedule during the year when it was acted for every two months,

Firstly :. Military

• Salary meal (1) includes monthly salary (1 and 2)

• Meal salary (3) includes monthly salary (3 and 4)

• Salary (5) includes monthly salary (5 and 6)

• Salary (7) includes monthly salary (7 and 😎

• Salary (9) includes monthly salary (9 and 10)

• Salary (11) includes salary month (11 and 12)

Second :. Civil society

The salaries of civil retirees will start as of the February meal of each year

• Salary meal (2) includes a month salary (2 and 3)

• Meal salary (4) includes monthly salary (4 and 5)

• Salary (6) includes monthly salary (6 and 7)

• Salary (8) includes monthly salary (8 and 9)

• Salary (10) includes a monthly salary (10 and 11)

• Salary (12) includes a month's salary (12 and 1 month of the following year).

Therefore, through the details above that the salary of the fifth month has been disbursed with the salary of the last month and was paid only one month salary is the salary of the sixth month and will meet the salaries of retirees civil and military in the next month and will continue to spend monthly.

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IRAQI IRAQ: Zero deduction rate upon receiving salaries with new cards

IRAQI IRAQ: Zero deduction rate upon receiving salaries with new cards
Iraqi Retirement Authority
 03 June 2019 03:10 PM

Mubasher: The head of the retired Iraqi Retirement Commission on new mechanisms for the exchange of salaries, revealing new advantages to the issue of settling salaries, including the absence of any deduction in the cards Master and Visa.

"We paid salaries every two months in advance, and divided the months, the marriage of civilians, and the individual of the military," Ahmed al-Saadi said.

Saadi added that because of the increase in the number of retirees to 3.25 million retirees, it was decided to pay the monthly salary, and began to pay the salary in June in advance.

The Chairman of the Retirement Authority pointed out that it was decided to stop dealing with the card card and replace it with dual-swap cards in accordance with instructions for settling salaries. The Authority decided to stop the issuance of the card, and it was agreed with Al-Rasheed Bank, Rafidain and private banks.

Al-Saadi explained that card holders currently have to pay their salaries until the start of the replacement process, stressing that the cards now operate effectively without a problem in them.

"There is no new version of the card, and the dispensation will be gradual."

He called on the retired, not to review the body; because they will receive messages on their phones for review at the nearest branch, indicating that it is now in the stage of printing new cards in cooperation with Rafidain Bank and Rashid.

Al-Saadi confirmed that the deductions in the card cards were very high, and now the ATMs in the malls or banks the deduction ratio is zero, if the salary is received from ATM or the shopping, and there will be no Deductions excluding commissions determined by the Central Bank.

He pointed out that there will be no deductions such as the previous five thousand dinars or more.

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3 hours ago, Chabo1 said:

Where did u hear they are getting paid in 10k notes LB?

Thanks for your input, I don’t know if you’re asking me Chabo1,

I never mentioned they’re getting paid in cash (10k notes)

All public employees are been paid with electronic money (e-card)

 

Go RV sooner than later.

Go $1:1

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New guidelines for retirees know about them

03/06/2019 01:36 PM | Number of readings
New guidelines for retirees know about them

Al-Ahed News - Baghdad

The National Retirement Commission issued a directive to retirees regarding the change of the card to the MasterCard and Visa Card.

"The National Pension Authority will send figures to the pensioners by phone to notify them to check the headquarters of the Authority to receive the MasterCard card and Visa card instead of the card (card)," said the director of the authority Ahmad Al-Saadi said on Monday that " Now working on the preparation and completion of these cards. "

He added that "the Commission agreed with the Rafidain Bank and Rashid to grant loans to retirees and cancel the condition of the sponsor card will be held by the retired guarantor guarantor." Finished

Edited by 6ly410
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It’s a no brainer — I go into instantaneous retirement the instant the IQD goes Global at 1to 1. :praying:

 

Make Daddy’s dream come true...real fracking soon !

Edited by 10 YEARS LATER
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4 minutes ago, 10 YEARS LATER said:

 

It’s a no brainer — I go into instantaneous retirement the instant the IQD goes Global at 1to 1. :praying:

 

Make Daddy’s dream come true...real fracking soon !

Probably not retire that week but SOON ! 😀

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I'm onboard with that decision !

17 minutes ago, 10 YEARS LATER said:

 

It’s a no brainer — I go into instantaneous retirement the instant the IQD goes Global at 1to 1. :praying:

 

Make Daddy’s dream come true...real fracking soon !

 

I'm on board with that decision !  pp

 

image.png

 

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Hate to burst you're bubble 10yr but iv'e been in this a long long time

waiting for that train to pull into the station Hope i don't end up like

SWFG .I don't have long to wait in any case one way or the other. imho

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As long as we have been on this ride I’m surprised u haven’t worn a hole clear thru that hammock by now LB ! 😎

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2 minutes ago, Chabo1 said:

As long as we have been on this ride I’m surprised u haven’t worn a hole clear thru that hammock by now LB ! 😎

To be honest after 11 years on this investment I need to buy a new one.

Just waiting for the RV to get the best hand made hammock.😎👍🏼

 

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The National Pension Authority revealed the advantages of settling the salaries of retirees within the new MasterCard and Visa cards, pointing out that the cards are now effective and will continue to pay salaries through normal until the start of the process of replacement, which will be gradually.

"We paid salaries every two months in advance, and because of the increase in the number of retirees to three million and 250 thousand retirees decided to pay the salary per month, and began to pay the salary of the month of June in advance," the head of the body Ahmed al-Saadi said in a statement carried by the Iraqi News Agency (INA).
 

"According to instructions for settling salaries, it was decided to stop dealing with card card and replace it with cards with bilateral exchange, and was agreed with the bank of Rashid and Rafidain and private banks to issue Master cards and Visa to pay pensions. 

"Cardholders now have to pay their salaries until the start of the replacement process," he said. "Cards are now effective and operational, but there is no problem with them, but there is no new issuance of these cards.
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20 minutes ago, Laid Back said:

To be honest after 11 years on this investment I need to buy a new one.

Just waiting for the RV to get the best hand made hammock.😎👍🏼

 

Been in this “investment” for over 10 years and always thought that I would treat us  to a nice small motor home now I’m thinking it will be motorised scooters 😄

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 "According to instructions for settling salaries, it was decided to stop dealing with card and replace it with cards with bilateral exchange, and was agreed with the bank of Rashid and Rafidain and private banks to issue Master cards and Visa to pay pensions.” 

The bilateral exchange is the common 
way of quoting a currency in that it involves two currencies in a pair. 
The majority of the time the central or federal bank will be one side 
of the relationship and they are displayed using their three letter 
symbols and are displayed with the base currency at the beginning followed 
by another currency for example, IQD/USD where the United States Dollar 
is the base currency. However, the effective exchange rate which is 
commonly known as the Trade Weighted Index, is considered to be a much 
more comprehensive way of analysing two economies and is a multilateral 
exchange rate which is a weighted average of a collection of international 
currencies and is generally seen as a giving a good overall view of 
a nations external competitiveness. These exchange rates are computed 
for judging the general dynamics of a country's currency toward the 
rest of the world. In simply put words, one will take a basket of different 
currencies, select a meaningful set of relative weights, and then compute 
the "effective" exchange rate of that country's currency.

 

This is why they want to use Visa and MasterCard instead of the card

 

Go RV sooner than later 

Go s1:1
 

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Stop issuing card "Key Card" and replace it with "Master Card Rafidain"

_NEWS_DATE: 2019/6/4 14:20  342 times set
Stop issuing card "Key Card" and replace it with "Master Card Rafidain"
 
 
[Baghdad-where]
The company "K" announced the cessation of issuing cards "Key Card" in the National Pension Authority, indicating the replacement of MasterCard cards issued by Rafidain Bank.

The company said in a statement on Monday that RTT had suspended the issuance of "K-Card" cards on June 2, which was issued by the National Pension Authority.

He pointed out that the Rafidain Bank and the company "K" will issue cards "MasterCard" instead of it, noting that the cards "Key Card" issued in the past will be replaced by the new issue of cards, "Master Card Rafidain" within a timetable.

He assured card holders that the replacement will be carried out in a streamlined manner that will guarantee the rights of retirees and continue to receive their salaries normally, and there will be no interruption during the replacement process.
Edited by 6ly410
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The money of the crowd issues an important intention to the subscribers of the card holders "Card Card"

Date of release: 2019/6/4 22:19188 times read
The money of the crowd issues an important intention to the subscribers of the card holders "Card Card"
 
(Baghdad: Al-Furat News) The Directorate of Finance in the People's Assembly Authority, on Tuesday, its intention on the establishment of some of the owners of outlets, "Card Card" to pay the salaries of members of the dollar, warning them to "report these cases."
The Directorate said in a statement, received {Euphrates News} a copy of it, "it calls the employees of the popular crowd, who get paid through the card {card card} not to allow anyone with the owner of the {key card} to pay their salaries in the currency of the dollar and the currency teams and reporting and any case Similar by sending a financial link or name and port number to take what is necessary against him. "
The directorate stressed that "the employees of the Popular Mobilization Authority are free to receive from any port they deem fit and otherwise, the Directorate is informed of this with documentation." He called for "informing the Directorate of Finance of any abnormal situation related to drainage and drainage outlets and we will take the necessary measures."
Edited by 6ly410
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4 minutes ago, 6ly410 said:

The money of the crowd issues an important intention to the subscribers of the card holders "Card Card"

Date of release: 2019/6/4 22:19188 times read
The money of the crowd issues an important intention to the subscribers of the card holders "Card Card"
 
(Baghdad: Al-Furat News) The Directorate of Finance in the People's Assembly Authority, on Tuesday, its intention on the establishment of some of the owners of outlets, "Card Card" to pay the salaries of members of the dollar, warning them to "report these cases."
The Directorate said in a statement, received {Euphrates News} a copy of it, "it calls the employees of the popular crowd, who get paid through the card {card card} not to allow anyone with the owner of the {key card} to pay their salaries in the currency of the dollar and the currency teams and reporting and any case Similar by sending a financial link or name and port number to take what is necessary against him. "
The directorate stressed that "the employees of the Popular Mobilization Authority are free to receive from any port they deem fit and otherwise, the Directorate is informed of this with documentation." He called for "informing the Directorate of Finance of any abnormal situation related to drainage and drainage outlets and we will take the necessary measures."

De dollarize by forcing them to receive salaries in dinar.... I like it! Let’s go Iraq.... let’s cross the finish line 

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