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yota691

"Ki" confirms the payment of salaries of retirees via Key Card

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13 minutes ago, 3n1 said:

Not sure what iraqs version of it is but this is how the world bank views it , in short its getting the unbanked banked .'

 

Financial inclusion .........means that individuals and businesses have access to useful and affordable financial products and services that meet their needs – transactions, payments, savings, credit and insurance – delivered in a responsible and sustainable way.

 

In layman's term ~ to get those unbanked and underserved to open a bank account.

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6 hours ago, skeetdog said:

Thanks Yota....You would think that there had to be something brought up about the true market rate of the dinar and how it's performance on the international market with an open economy would benefit the process a whole lot better than spreads on the auction...jmho

I would think for sure that VISA jumping in tells me that the questions they asked and the answers they got back were the right ones.  

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15 minutes ago, ChuckFinley said:

I would think for sure that VISA jumping in tells me that the questions they asked and the answers they got back were the right ones.  

 

i haven't been able to discern if the visa card is a credit card with charge limits or can only be used as a pre-paid card and to me there is a huge difference when a credit card company goes on the hook for credit to be charged vs a visa prepaid card where a person simply puts money in a bank that the card is linked the individual with the visa cc must be able to show credit worthiness and that would be a good sign imo...

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If visa are agreeing to a credit card service in Iraq..... the rate must be good! 😊😜🤑

Edited by BETTYBOOP
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We need to warn the Iraqi people to not get a credit card unless they plan on paying them off every month.  If a college kid can’t use a card responsibly what do you think an Iraqi citizen will do. Free Money, try to find me suckers.  On second thought maybe we should warn Visa

 

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39 minutes ago, BETTYBOOP said:

If visa are agreeing to a credit card service in Iraq..... the rate must be good! 😊😜🤑

 by law I don't believe they're allowed to collect for interest as per the Koran reads. Even though like Obama did just call a tax something else or interest something else.Maintanence fee: 

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1 hour ago, justchecking123 said:

Thank you.

Had to plus you to get you off that terrible reputation rating number.

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1 hour ago, 3n1 said:

 

i haven't been able to discern if the visa card is a credit card with charge limits or can only be used as a pre-paid card and to me there is a huge difference when a credit card company goes on the hook for credit to be charged vs a visa prepaid card where a person simply puts money in a bank that the card is linked the individual with the visa cc must be able to show credit worthiness and that would be a good sign imo...

If my wife was there she could tell you if it was a credit card with an international reach. That women can burn the H$$$ out of a credit card. 

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1 hour ago, 3n1 said:

 

i haven't been able to discern if the visa card is a credit card with charge limits or can only be used as a pre-paid card and to me there is a huge difference when a credit card company goes on the hook for credit to be charged vs a visa prepaid card where a person simply puts money in a bank that the card is linked the individual with the visa cc must be able to show credit worthiness and that would be a good sign imo...

...The card will basically be a debt card that the GOI will fund...How the charges are credited by Visa and CBI have undoubtedly been agreed upon....The GOI will fund an account with the CBI..The CBI accounts each card though the GOI allotment...and confirms with Visa the limits set by the GOI...

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....The holder of these cards can contribute to their own account...It just like a debt card with a monthly/annually deposit from the GOI......

Edited by skeetdog
Brain fart
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2 minutes ago, ChuckFinley said:

If my wife was there she could tell you if it was a credit card with an international reach. That women can burn the H$$$ out of a credit card. 

 

3 minutes ago, skeetdog said:

...The card will basically be a debt card that the GOI will fund...How the charges are credited by Visa and CBI have undoubtedly been agreed upon....The GOI will fund an account with the CBI..The CBI accounts each card though the GOI allotment...and confirms with Visa the limits set by the GOI...

 

funny CF , Ty Sd.....

thanks we know their pilot card programs have been going on for a few years now with the GOI , retirees ect. guess they may be taking it more mainstream now since banking has improved and upgraded methods , and of course with my dinar glasses on its signaling the goi will be making oil and gas payments to the citizens bank accounts to be withdrawn thru the debit card to help control theft and corruption .. TaDaaa :twothumbs:

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15 hours ago, skeetdog said:

The card will basically be a debt card that the GOI will fund

BINGO..another great way to force them to get them in the bank...

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On 4/24/2018 at 3:30 AM, jeepguy said:

I wonder if the  arab world  calls  the visa  1-800   number do they get  English folks on the other end  ? (  as  English  sometimes get     foreign speaking  assistance  :huh: )  :lol:

Now wouldn’t that be sweet justice? 😀🙄

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7544.jpg
Governor of Central Bank Ali Al-Alaq «Economy News»

  

 Banks


Economy News Baghdad:

The governor of the Central Bank Ali al-Alaq, that the Iraqi payment system did not witness a violation or a problem because it is considered one of the best systems in the world.

"The payment system in the Central Bank of Iraq is one of the best in the world and has not witnessed a breach or a problem over the past period," he said during an interview with Visa International in Baghdad.

He added that "the elements of safety and durability and accuracy in the operations within the payment system has made it one of the best systems in the world," noting that "the settlement processes carried out by the payments system amounts to more than 14 trillion dinars per month."


Views 453   Date Added 04/25/2018

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The Association of Private Banks announces its support for international banking companies to enter the Iraqi market

 
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 Banks


Economy News Baghdad:

The President of the Association of Private Banks, Wadih al-Hanalal, that the Association of private banks supports all the directions of international companies specialized in the field of banking services to enter strongly in the Iraqi market.

" I am pleased to congratulate you on the signing of a memorandum of understanding between the Central Bank of Iraq and Visa International, which comes in the context of the strategy developed by the Central Bank for the development of electronic payment systems in Iraq , " Al-Hantal said in his speech during the signing ceremony of the Central Bank's agreement with Visa International. And the application of financial coverage after the great steps through which the bank to develop the systems and instructions necessary for the success of this project and the construction of infrastructure through the establishment of the national division and develop it to meet through banks and companies the growing needs of the Iraqi society to transform from a society depends on the deal Its financial dependence on criticism to a society that depends on digital banking. "

He added that "the presence of international companies in Iraq is evidence of the increasing interest of these companies in the Iraqi market because it represents a great attraction within the region and a promising market everyone looks forward to service and harvest the fruits of this service gradually to reflect on the growing volume of business and profits of different institutions . "

He stressed that "the Association supports all trends of international companies specialized in the field of digital banking services to enter strongly to the Iraqi market and is ready to provide everything that is necessary and within its capacity to ensure the success of this trend . "

" We hope that the memorandum between the two parties will quickly come into effect and we hope that Visa International will achieve prosperity and expansion in the Iraqi market .


Views 84   Date Added 04/25/2018

 
 
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13 minutes ago, yota691 said:
 
7544.jpg
Governor of Central Bank Ali Al-Alaq «Economy News»

  

 Banks


Economy News Baghdad:

The governor of the Central Bank Ali al-Alaq, that the Iraqi payment system did not witness a violation or a problem because it is considered one of the best systems in the world.

"The payment system in the Central Bank of Iraq is one of the best in the world and has not witnessed a breach or a problem over the past period," he said during an interview with Visa International in Baghdad.

He added that "the elements of safety and durability and accuracy in the operations within the payment system has made it one of the best systems in the world," noting that "the settlement processes carried out by the payments system amounts to more than 14 trillion dinars per month."


Views 453   Date Added 04/25/2018

Well Governor we all would like to be apart of that "best in the world payment system!" Thanks Yota! Good news keeps coming

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I just had this thought. The statement made by the Governor really was bold to say the least. Could Iraq's currency really become the highest ever in the M/E? I often wonder if we are being conservative with what we think it may end up at but I don't recall ever seeing any companies/organizations and banks, lining up to get into other countries like they are trying to get into Iraq. I recall Laid Back saying quite often how much more rich Iraq is in resources etc, than any other country over there. I may just be thinking out loud on this one. 

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On 4/23/2018 at 9:30 PM, Gypsygirl11 said:
32 minutes ago, chris2028 said:

I just had this thought. The statement made by the Governor really was bold to say the least. Could Iraq's currency really become the highest ever in the M/E? I often wonder if we are being conservative with what we think it may end up at but I don't recall ever seeing any companies/organizations and banks, lining up to get into other countries like they are trying to get into Iraq. I recall Laid Back saying quite often how much more rich Iraq is in resources etc, than any other country over there. I may just be thinking out loud on this one. 

It has the potential. What got my attention was that the business community has done more to get this dinar to have value than its own government.  

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if somebody wanted about $ 100 or $ 200 u.s.

then the atm's would simply give out 4-8 25k notes.

the lower denom's atm thing never sounded quite believable

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Keywords: $ 200 billion worth of assets in banks
 
7552.jpg

Governor of the Central Bank Ali Al-Alaq during his speech at the Forum «Economy News»
  

 Banks


Economy News Baghdad:
The governor of the Central Bank of Iraq, Ali Alalak, the total assets in banks operating in the country is 200 billion dollars.
Al-Alak said in his speech at the session of "partnership in investment" within the Forum of investment and reconstruction opportunities in Iraq and attended by "Economy News", "The credit provided by banks amounting to 30 billion dollars and weaken this figure of credit contract," noting that " The amendment of the organizational structure, the establishment of risk units, combating money laundering and the financing of terrorism, among others. "
He added that "the central bank has developed the system of payments and will soon launch payment by mobile phone," asserting "Last year we launched the common system known as the IBAN for all accounts and Iraq is one of the 47 countries in the world implement this system, which facilitates the process of financial transfer "He said.
He pointed out that "MasterCard will establish a school in Iraq to develop young people to use credit cards and others," adding that "the inflation rate in Iraq does not exceed 2%."

He pointed out that "the coming period will witness a decline in the rate of inflation in Iraq after controlling the exchange rate and cancel the marginal price of the dollar and make it equal to the official price," noting that "this measure by the Central Bank supports the purchasing power of citizens and provides an important indicator for businessmen through the stability of the working environment" .
He pointed out that "the dollar exchange rate is considered at the current stage is the best because it has become an ideal price and gives confidence to investors in maintaining the return of their activities."

http://economy-news.net/content.php?id=12102

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 April 26, 2018
The Central Bank of Iraq signs a Memorandum of Understanding with Visa International


The Central Bank of Iraq signs a Memorandum of Understanding with Visa International

The Iraqi Central Bank, represented by His Excellency Mr. Ali Mohsen Ismail, signed a memorandum of understanding with Visa International, which has granted membership to more than 16,000 financial institutions worldwide to establish the legal and regulatory framework for work in Iraq.

 Where Visa will be able to contribute to the smart ambitions set by the Central Bank of the Iraq market.

This memo helps to build a strategic partnership with Visa, which will contribute to the development of the electronic payment environment in the community in terms of technical, organizational, awareness, transfer of expertise and benefit from the innovations of the company.

Visa International, represented by Mr. Tarek Al Husseini, General Manager of Visa North Africa and Levant, and the accompanying delegation, expressed interest in the strategic direction of the Central Bank of Iraq in terms of payments and electronic systems and expressed its desire to contribute to the transfer of knowledge, development and training of cadres working in this sector through Foundation (Visa School for business development ( accepted Visa the business School )

As well as that this bank seeks to develop the market through effective competition and similar agreements will be signed with other international companies

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image.jpeg.ee107da5ddfed9b866b5a0f05096fb34.jpeg

image.jpeg.32e91bc5aeab74fdc557f2857cd2e688.jpeg

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