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Central: We aim to complete all financial transactions electronically


yota691
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Central: We aim to complete all financial transactions electronically

   
 

 
 


09/1/2018 12:00 am 

After the completion of the infrastructure of payment system retail 
Baghdad / Hussein Thagb 
The Central Bank of Iraq for the coming period to make all financial transactions through the banking system and electronic systems developed by the Central Bank in the field of payments, which contribute to make the monetary mass an active player in the process of sustainable development
Director General of Payments Department at the Central Bank of Iraq, said: "The central bank's goal for the next phase is to complete all financial operations in the country for the public and private sectors through the banking sector." She pointed out that "these operations are not through the deployment of equipment allocated in All places or issuing special cards and are pulling money through, but the integration of electronic collaboration is when the transactions in the public and private sectors as a whole through electronic cards so that this step will be complementary to the process of localization of salaries and become financial operations are Abraljhaz banking. dealing Ba Cash



She pointed out that the introduction of the private sector owner to a large block of cash to electronic transactions requires special products dealing with their trade and their needs for cash and be more flexible than dealing with cash, and here requires the introduction in the official channels of electronic transactions away from the complexity. To make all private sector institutions within the settlement of salaries, pointing out that this requires cooperation by public institutions such as taxes and departments of the  
Ministry of Commerce. Infrastructure



"In view of the evolution of the Iraqi payment system, the launch of the salary settlement project, the remarkable progress in increasing the number of bank accounts and the completion of the retail payment infrastructure, which is one of the cornerstones of the improvement of the working environment, the aim is to attract deposits and manage remittances by banks On all levels (personal and commercial) and that all parties within the system and maintain the cycle of cash through the banking system and away from the circulation of cash "She drew Abdul Karim that"The opportunity for individuals of interest and crafts to register their entities from shops, shops, markets and workshops in the Registrar of Companies or any competent authority under the condition of the tax number and bank account are impossible if not accompanied by decisions to encourage, motivate and facilitate the formal procedures of registration to prevent manipulation and corruption at the same time Through cooperation between all parties, whether regulatory, security and municipal to be all these entities have a number / commercial record and a tax number and a bank account. "


Electronic wallet 
director of a specialized companies weigh - Tamimi said: " The Partnership is working to provide e - wallet services through its network, and can co - pay bills, transfer money, buy electronic cards and more services," pointing out that the deposit operations and withdrawals made through thousands of centers "The citizen can register in the electronic wallet with high speed, so that he can register in the temporary portfolio by logging into a specific application, which is a link Live this wallet only sixty days. And can register in the wallet Aldaimip by going to the nearest authorized agent and submit the required documents and the identity of the Civil Status card housing. " Culture deal



He pointed out that the main objective of the localization of salaries is to spread the culture of dealing with the banking system, and that the salaries of employees guaranteed, because the banks dealt with by the Central Bank can be described as Almsrinp, "pointing out that" the central bank is the guarantor of salaries of employees, " 
He pointed out that" salaries not withdrawn by employees (savings) increase the liquidity of banks and may be used as development loans and thus become the salaries of state employees a tributary of economic growth. "
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6 hours ago, yota691 said:

by logging into a specific application, which is a link Live this wallet only sixty days. 

 

6 hours ago, yota691 said:

The citizen can register in the electronic wallet with high speed,

hahaha  good luck getting the folks  who are "already  do not believe in banking " to try and start electronic wallets ,  --- and the high speeds that take 60 days !:huh:    {  o.k.  I know that is probably the initial  account set-up grace period ,  but still  60 days  is  a long time  for  HIGH SPEED   }  :D 

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19 minutes ago, jeepguy said:

 

hahaha  good luck getting the folks  who are "already  do not believe in banking " to try and start electronic wallets ,  --- and the high speeds that take 60 days !:huh:    {  o.k.  I know that is probably the initial  account set-up grace period ,  but still  60 days  is  a long time  for  HIGH SPEED   }  :D 

Hey, it's Iraq......they ride camels.......60 days is the norm......

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central_bank_588400307.jpg?x33059
Knozmedia 
The Central Bank of Iraq announced its intention during the coming period to make all financial transactions through the banking system and through advanced electronic systems developed by the Central Bank in the field of payments, which contribute to make the monetary mass an active participant in the process of sustainable development.
"The central bank's goal for the next stage is to complete all the financial operations in the country for the public and private sectors through the banking sector," said the director of payments at the Central Bank of Iraq, Suha Abdul Karim.
She pointed out that "these operations are not carried out through the deployment of dedicated devices in all places or the issuance of special cards and the withdrawal of funds through them, but the integration of electronic cooperation is done when transactions are in the public and private sectors through electronic cards and thus this step is complementary to the process of localization Salaries and financial transactions are made through the banking system 
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Thank You Yota . The title says 'all 'financial transactions. I can't help but think they are moving away from physical and polymer notes vastly. Including the lower denoms when and if they are released. As in Cashless society where everyone will need an e- wallet . I would think the US would be going in this direction too . Somaliland already uses a cashless system but they too are speaking of printing a new currency . I get the feeling we will be exchanging into some "New Digital Banking 'future . Random thoughts 

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