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

[yota691]

27-08-2017 11:59 AM

Rafidain begins to pay the salaries of employees of universities of the Ministry of Higher Education and Scientific Research

 

 

 

Rafidain Bank announced the disbursement of salaries of employees of universities of the Ministry of Higher Education and Scientific Research. 

The bank's information office said that "the bank distributed the salaries of employees of the universities of the Ministry of Higher Education and Scientific Research through an electronic payment tool," noting that 'the distribution came after the arrival of sukuks of their amounts from their circles'. 

He stressed that the exchange included all colleges and university presidencies' affiliated to the ministry.

[yota691]

«Morning» publishes the details of the settlement of salaries of employees

29/8/2017 12:55 AM    BAGHDAD / Sabah Al-Sabah     publishes the details of the cabinet's decision to complete the issuance of a unified job number for employees in all government departments, particularly payroll lists by the end of the first of November of this year 2017.  The decree states that "ministries and entities not affiliated with the ministry By sending monthly lists of salaries of employees including details of salary and allocations to the Ministries of Planning and Finance and the Federal Financial Control Bureau in the form of electronic tables in accordance with the standard models that the Central Statistical Organization to all parties, and get the Ministry of Planning proportion 1 percent of the nominal salary of the employee in return for obtaining a uniform job number, provided that the percentage is updated periodically at each upgrade to a higher degree and determine the mechanism of collection of wages electronically with controls issued by the Ministry of Finance and the Central Bank of Iraq ». It also stated that «the employee selected a bank of the banks accredited with the Central Bank of Iraq in the process of settling salaries to open a bank account in preparation for receipt of his salary through the account electronically under a bank card city». The decision of the Council for the purpose of activating the system of payment of salaries and allowances to employees in government departments electronically.

[yota691]

of Rafidain Bank announces the distribution of salaries of employees of departments and ministries

 

 

Twilight News    

 

 3 hours ago

 

 

Shafaq News / Rafidain Bank announced on Tuesday the payment of salaries of some employees of the State Departments through one of the electronic payment tools.

The bank's information office said in a statement that the bank had started to pay the salaries of employees of the Ministry of Agriculture - the director of the inspection and certification of seeds and paid the salaries of the staff of Wasit Communications Directorate, as well as the salaries of the staff of the Roads and Bridges Department.

The statement pointed out that the disbursement took place after the arrival of sukuks for their amounts from their departments. 

[Big_J]

GD YOTA AND DV.

[DinarThug]

CNN. Broadcasting With A High Tech New Mechanism Called A Widget - Or Maybe A Gizmo !

 

(by walkingstick)

Iraq 's economy depends on a new mechanism to distribute the salaries of 4.5 million employees

 20 minutes ago

 

The project is expected to be completed by the end of the current year, the project of automation of salaries or what is known as electronic settlement through the use of smart card, as all the employees of Iraq, about 4.5 million, representing 10 percent of the population of smart cardholders, and receive salaries from banks Via this card with different uses. 

The Iraqi Council of Ministers requested that the Ministry of Planning and Development Cooperation coordinate with the Ministry of
Finance and the Central Bank of Iraq to issue a unified job number for the employees of the government departments, for adoption mainly in government databases. 

The Council of Ministers also granted the employee the freedom to choose a bank approved by the Central Bank in the process of settling salaries to open a bank account in preparation for receipt of his salary through the account electronically under a bank card.

The project is an important step that will contribute to a qualitative change in the life of Iraqis with the presence of so many employees. 

The economist Abdul-Zahra al-Hindawi, that "the country is witnessing a real savings movement by citizens in banks, whether government or private, especially as the salaries of employees represent the largest mass of cash traded in the local market, but this trading is not an investment, And the entry of a large monetary block in the banking portfolios with a clear vision to invest these funds in a developmental way would move the economy in a remarkable way in light of the financial crisis that has plagued the country since 2014, in addition to establishing banking policies that must be of dimensions Sound development ".

He added that "the project pays to encourage employees to save, especially in light of the widespread culture of hoarding funds and the lack of confidence between citizens and banks, especially private banks," noting that "banks must work on the principle of competition between them through services and benefits provided to customers and compete in the annual interest rate On the funds deposited, which drives the citizen to go to the bank that gives a higher interest rate than others, as well as other services that banks can offer to attract depositors of smart card holders, such as granting loans and facilities banking. 

He pointed out that "this experience will face challenges, as we will find fear in the employees of the failure of banks to meet their obligations to depositors," noting that "the banks selected for this task is guaranteed by a government agency."

The task of selecting the Central Bank of Iraq as the sectoral sector supervising the banking sector, he announced that he chose 16 banks, some of which are government and some of the private banks to take over the task, and that the selection process was in accordance with global standards and the level of the bank will be the guarantor of any of these banks May face problems or falter in the fulfillment of its obligations to the extent that he expressed his willingness to pay dues instead of the bank stagnant
 
Al-Hindawi stressed the importance of mechanisms and procedures that will reassure employees about this new experience which they are not yet accustomed to. He pointed out that the presence of ATMs in public markets and important commercial centers, as well as the headquarters of ministries and government departments,
is necessary to enable the cardholder to shop through them. .

He said many of the managers of private banks that the localization of salaries of state employees electronically a step bear important implications, which will be reflected positively on the performance of banks in terms of securing liquidity and restore confidence between the citizen and the sector, which witnessed during recent years reflected the results reflected the reality of the Iraqi economy, stressing the ability of banks to implement expansion programs The base of its services to citizens in a form that strengthens the investment base of the sector to reflect its results on the financial sector in general. 
alhayat

http://www.shafaaq.com/ar/Ar_N.....5f9946876d

 

[blueskyline]

Thanks Thug !

 

[skeetdog]

Thanks DT...At what US Banks are paying toward interest rate...Iraq could shoot for a piece of the US banking business....

[siberian_shaddow]

Much Appreciated Thugs, another sand step forward. 

[copper13]

Iraq needs to hurry up! Jesus is coming!!

[ChuckFinley]

Moving that sand, one grain at a time. 

[Half Crazy Runner]

2 hours ago, DinarThug said:

the presence of ATMs in public markets and important commercial centers,

 

I'm trying to imagine the size of the giant ATM machines they would need to hold all that worthless currency ..

[Laid Back]

"the country is witnessing a real savings movement by citizens in banks, whether government or private"

 

This is is really good news.... People are opening banks accounts......Finally the banks are getting the chunky cash.

 

This means less dinars in circulation inside Iraq.

 

We are getting really close to see the end of MCP and the real market value of the dinar.

 

Go CBI

Go end of MCP

Go RV

 

[nannab]

Chunky money was my first thought and I wondered if they remember where they buried it along

with a lot of flat mattress's.  

[DinarThug]

19 minutes ago, Laid Back said:

Finally the banks are getting the chunky cash.

 

Go CBI

Go end of MCP

Go RV

 

Go Chunky !

 

Or Go Home !

 

     

 

[Wiljor]

Thanks Thugs,  much appreciated. 

A solid banking foundation is in place and confidence in the banking system emerging, this is what we want to see. Each day we move forward and each day closer to the true value of the IQD

More 

[Laid Back]

When I said less dinar in circulation inside Iraq.... I was referring at the amount of notes in circulation.

 

Less notes in circulation give us the possibility of a better rate at the time of an RV

7 minutes ago, DinarThug said:

 

Go Chunky !

 

Or Go Home !

 

     

 

Go DT

Go CLOWN

GO THE CLOWN NEWS NETWORK 

[jcfrag]

2 hours ago, skeetdog said:

Thanks DT...At what US Banks are paying toward interest rate...Iraq could shoot for a piece of the US banking business....

They already have my business!!!  They pay far better interest then any ol' US of A Bank!!! 

[navira45]

Hahaha thug

[Synopsis]

The ISIS seize of Deir ez-Zor in Syria appears to be nearly broken. Raqqa has had a major portion of the city retaken from ISIS and could be ISIS controlled area freed in 1-2 months. The rest of Syria appears to be clearing of ISIS at a significant pace. Haiwija in the Kirkuk region is next in the IDF sights. May remain to be seen how long that cleaning will take. I suspect one or two ISIS incidents with the newly reopened Iraqi-Jordanian trade route will incur swift action from the IDF to eradicate that menace in that area all the way to the Iraqi border town of Qaim. So, any significant ISIS financial mechanisms are likely in their last days. I suspect the removal of the ISIS controlled area threat would really diminish any terrorist concerns in Iraq. Hopefully, there is a plan to flush the Iranians (IMIS, Quds, Soleimani, etc.) from Iraq quickly and irrevocably. News articles appear encouraging noting there appears to be a rising anti Iranian influence in Iraq sentiment.

 

I am optimistic on the prospects. Not sure how long they will play out but I do not think any major IQD issues will be announced prior to avoid any Iraqi monetary instabilities.

 

Go Moola Nova!

[yota691]

The electronic payment project will be completed by the end of this year

05-09-2017 12:13 PM

Readers

 

Baghdad News -

Life

 

It is expected that the end of the current year will complete the project of automation of salaries or what is known as electronic settlement through the use of smart card, as all the employees of Iraq, about 4.5 million representing 10% of the total population of smart cardholders, and receive salaries from banks through this card Of various uses.

 
The Council of Ministers requested that the Ministry of Planning and Development Cooperation coordinate with the Ministry of Finance and the Central Bank of Iraq to issue a unified job number for the employees of the government departments, for adoption mainly in government databases. The Council of Ministers also granted the employee the freedom to choose a bank approved by the Central Bank in the process of settling salaries to open a bank account in preparation for receipt of his salary through the account electronically under a bank card.

The project is considered an important step that will contribute to the events of qualitative change in the nature of life of Iraqis with the presence of such a large number of employees, as the economist Abdul Zahra al-Hindawi, that «the country is witnessing a real savings movement by citizens in banks, whether governmental or private, Employees represent the largest mass of traded cash in the domestic market. However, this trading is not considered an investment, but it is meant to secure the requirements of the Iraqi family daily. Therefore, the entry of a large monetary bloc in the banking portfolios with a clear vision to invest these funds in a developmental way would move the economy significantly in light of the financial crisis that has plagued the country since 2014, and the establishment of banking policies must be of sound development dimensions ».

He added that «the project pays to encourage employees to save, especially in light of the widespread culture of hoarding funds and the lack of confidence between citizens and banks, especially private banks», adding that «banks to work on the principle of competition between them through services and benefits provided to customers and compete in the annual interest rate On the funds deposited, which drives the citizen to go to the bank that gives a higher rate of interest than others, as well as other services that banks can offer to attract depositors of smart card holders, such as granting loans and banking facilities ».

He pointed out that «this experience will face challenges, as we will find fear in the staff of the failure of banks to meet their obligations to depositors», pointing to «the need to be selected banks for this task guaranteed by a government». The task of selecting the Central Bank of Iraq as the sectoral sector supervising the banking sector, he announced that he chose 16 banks, some of which are government and some of the private banks to take over the task, and that the selection process was in accordance with global standards and the level of the bank will be the guarantor of any of these banks May face problems or falter in the fulfillment of its obligations to the extent that he expressed his willingness to pay dues instead of the bank stagnant ».

He stressed the importance of mechanisms and procedures to reassure employees about this new experience, which they are not yet accustomed to. He pointed out that the presence of ATMs in public markets and important commercial centers, as well as the headquarters of ministries and government departments, is necessary for the cardholder to shop through them. .

He pointed out that «the experience of the project to settle the salaries electronically is very important», pointing out that «the urgent need to ensure all the requirements for success and the banks to invest this step by improving the performance and diversification of banking services and development, to become more effective in the process of development construction, Banking is one of its main pillars ».

He said many of the managers of private banks that the localization of salaries of state employees electronically a step bear important implications, which will be reflected positively on the performance of banks in terms of securing liquidity and restore confidence between the citizen and the sector, which witnessed during recent years reflected the results reflected the reality of the Iraqi economy, stressing the ability of banks to implement expansion programs The base of its services to citizens in a form that strengthens the investment base of the sector to reflect its results on the financial sector in general.

[Wiljor]

Good morning Yota, a super day up to ya. 

"especially in light of the widespread culture of hoarding funds and the lack of confidence between citizens and banks, especially private banks"

Education and implementation is in full swing, confidence in the banking system is growing, now let's get the chunky money deposited and lower that note count. 

[SnowGlobe7]

that is american dollars in the picture...and small stacks too....just saying

[Laid Back]

The electronic payment will be completed by the end of this year.

 

The GOI and CBI will take the rest of 2017 to get everything in order.

 

This is just my opinion. I don't think we will see an increase of the dinar exchange rate this year. 

 

Iraq continues moving forward in all fronts, but still a lot of work to do.

 

Next window of opportunity for an RV January 2018

 

Go RV sooner than later

 

 

[Man_Kind]

18 minutes ago, Laid Back said:

The electronic payment will be completed by the end of this year.

 

The GOI and CBI will take the rest of 2017 to get everything in order.

 

This is just my opinion. I don't think we will see an increase of the dinar exchange rate this year. 

 

Iraq continues moving forward in all fronts, but still a lot of work to do.

 

Next window of opportunity for an RV January 2018

 

Go RV sooner than later

 

 

 

I hear ya LB !  If it's January of 2018 so be it .......... my birthday will be fine 01/06...........Then it's Miller time !!!

[Scott McD]

57 minutes ago, Laid Back said:

The electronic payment will be completed by the end of this year.

 

The GOI and CBI will take the rest of 2017 to get everything in order.

 

This is just my opinion. I don't think we will see an increase of the dinar exchange rate this year. 

 

Iraq continues moving forward in all fronts, but still a lot of work to do.

 

Next window of opportunity for an RV January 2018

 

Go RV sooner than later

 

 

I think you are right Laid Back.

During this time they can also housekeep the crap out of the remaining ISIS in country.

Fingers crossed!!

Go RV.