Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content

Ki: Electronic payment supports economic reform


Recommended Posts

1 hour ago, Butifldrm said:

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 and 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."

 

One can only hope the coming period = now

  • Upvote 3
Link to post
Share on other sites
  • Replies 453
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Popular Posts

CBI signs MOU with Yunin B International International   July 4, 2018  Banks Economy News Baghdad:

Number of readings 26 Section: Iraq   CBI signs MoU with Yunin Bi International     Baghdad, July 4, 2018 - The Central Bank of Iraq (CBE) announced today the signing of

From a cash society to an electronic society.   Iraqi banking system continues moving forward with the implementation of electronic payment.   Electronic payment means less physica

Posted Images

1 minute ago, 3n1 said:

 

One can only hope the coming period = now

 

Well, right now Alak is saying the present exchange rate is serving them well, but my favorite thing he did say was:

 

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" .

 

I know most think the inflation he is talking about is the price of goods, but IMO he is talking about hyper-inflation, the three zeros.

  • Like 1
  • Thanks 3
  • Upvote 9
Link to post
Share on other sites

The CBI has really done a great job (credit mostly goes to Dr Shabibi ) in controlling the rate of inflation thru these high notes)... the market and official rare are almost equally close. Whenever i see purchasing power, i always fall from the edge of my seat. Smiling

  • Like 1
  • Thanks 2
  • Upvote 4
Link to post
Share on other sites
1 hour ago, Butifldrm said:

 

Well, right now Alak is saying the present exchange rate is serving them well, but my favorite thing he did say was:

 

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" .

 

I know most think the inflation he is talking about is the price of goods, but IMO he is talking about hyper-inflation, the three zeros.

 

thanks can't happen fast enough for them and the investors ... cheers

  • Upvote 2
Link to post
Share on other sites

Governor of the Central Bank Ali Alaq during his speech at the forum

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 meeting of the "partnership in investment" within the forum of investment and reconstruction opportunities in Iraq, "The credit provided by banks amounting to 30 billion dollars and weaken this figure of credit contract," noting that "the central bank ordered banks to modify the organizational structure and the establishment of units Risks, combating money-laundering, financing of terrorism and 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."

  • Like 1
  • Upvote 3
Link to post
Share on other sites
 
7560.jpg

  

 Banks


Economy News Baghdad:

The Al Baghdadi Cultural Center in Al Mutanabbi Street hosted on Friday the third day of the Financial Inclusion Week, which witnessed the participation of 19 banks and financial companies. The participating banks offered their services free of charge to citizens. 

The events witnessed a remarkable presence, representing various groups of society and came to identify the services offered by banks and benefit from them .

The employee of the Department of Management in the Ceyhan Bank, Qutayba Abbas, told "Economy News" that "the bank provides various services including bank accounts of all types and cards MasterCard and other," noting that "some state departments have settled their salaries in the bank, an important step in promoting the concept of Financial inclusion ".

"Cihan Bank today distributed 30 free MasterCard cards to the attendees as well as instructions on granting loans to support small and medium enterprises." The bank plans to distribute 1,500 free MasterCard cards to citizens .

He concluded by saying that "all the banking operations we are conducting are linked to the instructions and controls of the Central Bank being the regulatory body on the banks ."

The employee of the Department of Audit and Internal Audit at the Arab Islamic Bank, Ali Safa, told "Economy News" that "financial coverage is concerned to reach all segments of society, and through these events we can achieve this," adding that "the bank was yesterday at the University of Technology To visit the class of students, and today is located in the cultural center of Baghdad to provide banking services, including opening accounts for free .

The account manager of the company Key Card International, Ahmed Alaa, has pointed in his speech to "Economy News", to join the company to the activities of the week of financial inclusion came after the directives of the Central Bank and the Association of Iraqi private banks .

He added that the company will distribute 300 free card cards to citizens during the week, which will contribute to increase their knowledge of the work of electronic cards and what is useful and where to use .

Alaa said that the role of the Association of Iraqi private banks is to increase the familiarity between banks and joint cooperation among them to promote the reality of the banking sector and reach a common goal is to raise the confidence of citizens in Iraqi banks .

"The company focused during the week on the financial coverage on the deployment of electronic payment points sites deployed in Baghdad through a special application of the company," said Raghda Shaker, a sales executive at Al-Amwal .

She pointed out that the company got discounts from the shops that include the devices and published in the application to promote the use of the card and pay the customer to use the electronic card easily .

 

14ca21f6bac7c1f.jpg

0a7e1a8b1790437.jpg

6a4e3f6cfcd428b.jpg

11be14d5fd91dbe.jpg

 
Views 415   Date Added 27/04/2018
  • Upvote 5
Link to post
Share on other sites

Thanks Yota! They are really working to get the citizens to bring in the chunky money and open accounts. The avg Iraqi citizen may be hesitant unless they are being told by these bankers your money is safe and will increase and you can buy a car and houses and live good. 

  • Upvote 1
Link to post
Share on other sites
  • yota691 changed the title to Central and Visa World Sign Memorandum of Understanding

Central and Visa World Sign Memorandum of Understanding

   
 

 
9.jpg


28/4/2018 12:00 am 

In order to provide sound paths for the movement of funds 

Baghdad / Al-Sabah 
The orientations of the local international partnership have become real and bear great economic feasibility, coupled with the attraction of advanced technology, even the latest in the world, for the advancement of the financial sector, after the major international companies realized the importance of the Iraqi market at the level of the globe.

The first of the local active partnership stations culminated in the signing of a memorandum of understanding between the Central Bank of Iraq and Visa International last weekend. 
Governor of the Central Bank Dr. Ali Al-Alaq said that "Visa's entry into the local market means the transfer of knowledge and technology that contribute to the development of the banking sector and to keep abreast of developments in the global financial sector and provide job opportunities for young people." 
"The signing of the Memorandum of Understanding represents a step we are seeking to achieve the expansion of electronic payment based on several successes," he said, adding that "the success of this cooperation comes through the availability of infrastructure, which we have taken an important step in its separation. A great success and has the protection of accurate and are available within all safety operations and is a monthly settlement operations estimated at 14 trillion dinars. " Chance of success



Al-Aalak pointed out that "through our experience with banks there are potentials able to interact with this project and to achieve a chance of success for this matter, and the Iraqi market pristine provides a wide scope for the use of these products to serve banking operations and the movement of money properly." 
"The domestic business sector needs more sophisticated means, expanding its services and facilitating payments," he said. "This is in the central bank's goal of broadening financial coverage, which is of great interest to the central bank." 
Director of Visa Middle East Tariq Al Husseini said: "Our presence comes to achieve a strategic partnership that achieves the Central Bank's ambitions in the area of smart payments, especially as the payments industry in the continuous development of systems and at a lower cost for all segments of society," pointing out that "
He pointed out to "provide the necessary technology in cooperation with the Central Bank, which led us to develop a strategy to support the financial coverage and the success of its goals, according to plans prepared for that at the lowest costs." 
Visa has issued more than 3 billion cards and is looking to increase this figure through direct investment to fully guarantee all transactions and information. 
Director General of payments at the Central Bank, Subhi Abdul Karim, the return of the Visa company to Iraq, the great achievement, which is calculated to manage the central bank and coordination with banks. Get ahead of the other and said: "We are today in front of a new push in Iraq , and we hold the slogan {get ahead of the other map} in terms of sophisticated systems and the latest, departing from the availability of infrastructure available for the advancement of advanced payments , " noting that " the central supporter of the competition among advanced companies wishing to enter The Iraqi market, and we welcome the entry of Visa into our local market. "




"The Central Bank has a permanent study on the local market and can provide accurate information to the companies concerned," she said. 
"The Central Bank has succeeded in laying the necessary lines for the success of the transition to a more advanced stage in the payment structure and the transformation of the community into electronic transactions," said Wadih Khantal, head of the Iraqi Private Banking Association. 
He pointed out that "the presence of international companies in Iraq is proof that it has a promising market and benefits and profits for companies and roads beneficiary," noting that "the Association supports international companies and provide all that contributes to the success of this 
positive trend  ." Economic blocs



The financial expert on the financial Ali Faleh al-Zaidi said: "Iraq is one of the economic blocs important and influential in the economies of the region and the world, and this requires that it has sophisticated payments systems harmonize and the requirements of the future work of the country and size, where the international effort is looking at developed systems dealing with large numbers" . 
He pointed out that "there is a great desire by the banking sector to develop the joints of its work to possess the best systems that enable it to compete with regional and international banks." He stressed that "banks now have integrated plans to develop their human resources to enable advanced systems."

  • Like 1
  • Upvote 1
Link to post
Share on other sites

It would be interesting to see following this financial inclusion...we know the inflation rate does not exceed 2%(they are actually referring to  at years of keeping it with 3 zeroes notes at that rate). Any fool can see that can only amount to one thing...an increase in value (with the assets the CBI accumulated,200billion dollars). Aside from this assets, given any more variables, i may be able to calculate the rate. I stood at the rate of what i shared past 6 months ago, 1dinar=2.69 dollars(if only i could find that article again where i derived at that rate). In any case, hang in there folks...rv is not that far (iam not talking a month time either..)

  • Like 2
  • Upvote 3
Link to post
Share on other sites

I pray something occurs soon.  I just was just given notice that my rent is going up again.  I’ve lived here two years and the rent has increased $454 in those two years.  I work two jobs. The rental housing in the Bay Area sux, so they are ousting us that can’t afford to live here because so many are willing to pay the high dollars for these units that make $100,000+ a year.  Looks like this grandma won’t be living in the Bay Area much longer.  

  • Upvote 2
Link to post
Share on other sites
2 hours ago, ScaryMary said:

I pray something occurs soon.  I just was just given notice that my rent is going up again.  I’ve lived here two years and the rent has increased $454 in those two years.  I work two jobs. The rental housing in the Bay Area sux, so they are ousting us that can’t afford to live here because so many are willing to pay the high dollars for these units that make $100,000+ a year.  Looks like this grandma won’t be living in the Bay Area much longer.  

 

Evening SM - what's happening to you is despicable. I certainly hope they flip the switch in Iraq and then you can Flip them the Bird. Perhaps greener pastures are ahead of you in a new part of the State or even somewhere else in the country. You might not know exactly where, but that as well could show itself to in it's own good time.

 

I believe there are no coincidences and things do happen for a reason. The just need time to unfold. :twocents:

 

We're feeling the $$$$ pinch in this household. Layoffs, lifestyle changes to pay ( Now ) overdue bills and my  2 Cancer surgeries to pay for left more Month than Money. I can understand the stress and strain of your situation. :salute:

 

 

  • Like 3
  • Upvote 1
Link to post
Share on other sites
11 hours ago, 10 YEARS LATER said:

 

Evening SM - what's happening to you is despicable. I certainly hope they flip the switch in Iraq and then you can Flip them the Bird. Perhaps greener pastures are ahead of you in a new part of the State or even somewhere else in the country. You might not know exactly where, but that as well could show itself to in it's own good time.

 

I believe there are no coincidences and things do happen for a reason. The just need time to unfold. :twocents:

 

We're feeling the $$$$ pinch in this household. Layoffs, lifestyle changes to pay ( Now ) overdue bills and my  2 Cancer surgeries to pay for left more Month than Money. I can understand the stress and strain of your situation. :salute:

 

 

Thank you so much for the encouraging words.  I have lived here nearly all of my life in the Bay Area. I make under 50 K a year. . . . This just doesn’t cut it here.  I will be relocating to Texas or North Carolina.  I still believe we are there, almost.  And many blessings to you and yours. This site gives hope from kind words from the friends such as yourself.  

Heres to more Money and less Month. 😎🙏🏻

  • Upvote 4
Link to post
Share on other sites
10 hours ago, Botzwana said:

Mine only go back about 5 posts.  Then the rest are not there.  I don´t know if Navira can do it either.

Hey, Botzwana, i went to your profile just now and saw 62 pages of your posts.  I didn't read them LOL.  There is a button on right that pulls up past posts.

Link to post
Share on other sites
11 minutes ago, ScaryMary said:

Thank you so much for the encouraging words.  I have lived here nearly all of my life in the Bay Area. I make under 50 K a year. . . . This just doesn’t cut it here.  I will be relocating to Texas or North Carolina.  I still believe we are there, almost.  And many blessings to you and yours. This site gives hope from kind words from the friends such as yourself.  

Heres to more Money and less Month. 😎🙏🏻

SM, i see so many on here so desperately needing financial breakthrough.  I really believe this investment is a God-thing to give back all that the devil and life have taken.  Praying for all today needing God's intervention.

  • Like 6
  • Upvote 4
Link to post
Share on other sites
50 minutes ago, ScaryMary said:

Thank you so much for the encouraging words.  I have lived here nearly all of my life in the Bay Area. I make under 50 K a year. . . . This just doesn’t cut it here.  I will be relocating to Texas or North Carolina.  I still believe we are there, almost.  And many blessings to you and yours. This site gives hope from kind words from the friends such as yourself.  

Heres to more Money and less Month. 😎🙏🏻

Just my two cents but having lived here for 30 plus years I would pick Texas.Soon as able I plan to scoot and never return .. taxes are high , humidity is about same as florida unless its this year and were in the solar winter they keep talking about.

  • Upvote 2
Link to post
Share on other sites
34 minutes ago, Shedagal said:

SM, i see so many on here so desperately needing financial breakthrough.  I really believe this investment is a God-thing to give back all that the devil and life have taken.  Praying for all today needing God's intervention.

Amen on that 

  • Like 1
  • Upvote 1
Link to post
Share on other sites
2 hours ago, ScaryMary said:

Thank you so much for the encouraging words.  I have lived here nearly all of my life in the Bay Area. I make under 50 K a year. . . . This just doesn’t cut it here.  I will be relocating to Texas or North Carolina.  I still believe we are there, almost.  And many blessings to you and yours. This site gives hope from kind words from the friends such as yourself.  

Heres to more Money and less Month. 😎🙏🏻

 

You're very welcome SM - Nothing quite like riding Life's Roller Coaster let alone the IQD Roller Coaster, huh. I've served with friends in both States you mentioned. A bit Humid for me, but they wouldn't live anywhere else :twothumbs: Great bunch of folks on this site aren't there.  Many here at DV sent good vibes my way when I went thru Cancer Surgery earlier this year. 

 

Almost there; I agree 100%. Wished they would hurry the heck up already. God Bless and as the Brits would say, " Stiff Upper Lip, all will be well. " My ancestry is British/German with some French/Spanish thrown in for a well seasoned ancestral variety sauce - :lol:

  • Upvote 4
Link to post
Share on other sites
On 4/28/2018 at 4:06 AM, yota691 said:
 
7560.jpg

  

 Banks


Economy News Baghdad:

The Al Baghdadi Cultural Center in Al Mutanabbi Street hosted on Friday the third day of the Financial Inclusion Week, which witnessed the participation of 19 banks and financial companies. The participating banks offered their services free of charge to citizens. 

The events witnessed a remarkable presence, representing various groups of society and came to identify the services offered by banks and benefit from them .

The employee of the Department of Management in the Ceyhan Bank, Qutayba Abbas, told "Economy News" that "the bank provides various services including bank accounts of all types and cards MasterCard and other," noting that "some state departments have settled their salaries in the bank, an important step in promoting the concept of Financial inclusion ".

"Cihan Bank today distributed 30 free MasterCard cards to the attendees as well as instructions on granting loans to support small and medium enterprises." The bank plans to distribute 1,500 free MasterCard cards to citizens .

He concluded by saying that "all the banking operations we are conducting are linked to the instructions and controls of the Central Bank being the regulatory body on the banks ."

The employee of the Department of Audit and Internal Audit at the Arab Islamic Bank, Ali Safa, told "Economy News" that "financial coverage is concerned to reach all segments of society, and through these events we can achieve this," adding that "the bank was yesterday at the University of Technology To visit the class of students, and today is located in the cultural center of Baghdad to provide banking services, including opening accounts for free .

The account manager of the company Key Card International, Ahmed Alaa, has pointed in his speech to "Economy News", to join the company to the activities of the week of financial inclusion came after the directives of the Central Bank and the Association of Iraqi private banks .

He added that the company will distribute 300 free card cards to citizens during the week, which will contribute to increase their knowledge of the work of electronic cards and what is useful and where to use .

Alaa said that the role of the Association of Iraqi private banks is to increase the familiarity between banks and joint cooperation among them to promote the reality of the banking sector and reach a common goal is to raise the confidence of citizens in Iraqi banks .

"The company focused during the week on the financial coverage on the deployment of electronic payment points sites deployed in Baghdad through a special application of the company," said Raghda Shaker, a sales executive at Al-Amwal .

She pointed out that the company got discounts from the shops that include the devices and published in the application to promote the use of the card and pay the customer to use the electronic card easily .

 

14ca21f6bac7c1f.jpg

0a7e1a8b1790437.jpg

6a4e3f6cfcd428b.jpg

11be14d5fd91dbe.jpg

 
Views 415   Date Added 27/04/2018

i love this . bank offer ... we will give  the best interest if you apply this on this on  this lol  by using our card .  "we want your old money " 

  • Like 3
Link to post
Share on other sites
 
7570.jpg

  

 Banks


Economy News Baghdad

Visa International announced that the Iraqi Iraqi market is promising and has a good future, stressing that the banking sector is committed to the strategy set by the Central Bank.

"Visa Card considers the Iraqi market to be promising and the banking sector is committed to the strategy led by the central bank in addition to having several competencies," said Tarek Husseini, regional director of Visa International, To deal professionally with mistakes to avoid wasting more time to promote the reality. "

He pointed out that the company signed a contract with the Central Bank to activate its strategy on financial coverage and expand the base of electronic payments in the Iraqi market and provide the necessary services for that .


Views 3   Date Added 29/04/2018

 
  • Upvote 4
Link to post
Share on other sites
 
7562.jpg
 
7563.jpg 7565.jpg 7567.jpg

  

 Banks


Economy News Baghdad :

The banks and financial companies distributed on Saturday evening 165 awards for electronic payment cards to citizens at the banking exhibition organized by the Central Bank and the Association of Iraqi Private Banks financed by Babylon on the fourth day of the week of financial coverage .

The number of banks participating in the exhibition, 18 banks and financial companies are the international development and Assyria and Iraqi trade and Rafidain and Huda and dependence of Lebanon and Zain Iraq and commercial Iraqi and international Islamic and Babylon and the south and the clutch and the Islamic Iraqi and Jihan and money and card and Arabs .

"Our participation in the financial inclusion week was in partnership with the banking sector in the places where they were located, and a seminar was held at the Central Bank of Iraq to educate about electronic payment," said Mohamed Taher, , Pointing out that among the activities carried out by the company is to open a bank account through the application of (Amwal) of the company .

He added that the company has made discounts on all the electronic payment devices of the company (funds) and located in several shops, where the discount rate reached 50%.

On the vision of the company after the week of financial coverage, Taher stressed that the company's vision "aims to increase the spread of electronic payment devices and reach to 5000 devices by the end of 2018," adding that the second plan works in parallel with the directions of the Central Bank to settle the salaries of provincial employees, Additional devices in it .

The director of marketing and banking operations in the Union Bank of Iraq, Hamed Saget, told "Economy News" that "these activities adopted by the Central Bank with the participation of the Association of Iraqi private banks, led to restore the confidence of citizens in the banking sector, "He said.

The Director of Public Relations at Zain Islamic Bank of Iraq, Fahad Al-Mursed, pointed out that "participation in such events enables us to reach out to various groups of society and offer our banking services to them." He added that the bank made special offers on the occasion of the financial inclusion week, Free .

"The bank has provided 20 MasterCard cards containing $ 100 as a gift, " said Ali Hussain, an employee at Babil Bank's risk management department .


Views 106   Date Added 04/29/2018

  • Upvote 6
Link to post
Share on other sites
  • yota691 changed the title to Ki: Electronic payment supports economic reform

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    No registered users viewing this page.




×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.