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For the first time in Iraq ... state departments rely on electronic collection to collect money


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The Arab Company announced, on Saturday, that state departments have relied on electronic collection in collecting money, indicating that this is the first of its kind in Iraq.

The company said in a statement that Alsumaria News received, a copy of it: "In an event that is the first in Iraq, the Iraqi Housing Fund of the Ministry of Construction, Housing and Municipalities has signed a contract with the Arab Company for electronic payment licensed by the Central Bank of Iraq to launch the electronic collection system for the borrowers of the Iraqi Housing Fund, in implementation of the decision of the Council. Ministers No. 378 of 2018 and the instructions and controls of the Central Bank of Iraq.
 
 
 
And she added, "This will boost imports of the government sector, reduce expenditures and reduce red tape." On the other hand, it will provide citizens with the ability to pay their bills or installments 24 hours a day through electronic payment cards and electronic channels such as the mobile application of the housing fund, the phone application of the Arab company, and also through devices Al Arab Company’s ATMs and payroll outlets.
 
And she stressed that "this does not require going to the headquarters of the Iraqi Housing Fund to pay the installments."
 
 
 
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It is noteworthy that the Arab Company for Electronic Payment is an Iraqi company established in 2013 and licensed by the Central Bank of Iraq to work as a provider of electronic payment services in Iraq. The company has worked for 7 years to provide modern electronic payment methods approved in the year.
 
And it has obtained international certificates in safety standards, as well as a major member license from the global MasterCard and Visa Company in the field of issuing and collecting electronic payment cards of all kinds, and has made significant investments in terms of solid infrastructure and investment in human resources.
 
It provided an electronic collection system that is one of the most recent systems in this field and is applied in several countries, which will contribute to the shift towards a culture of electronic payment and abandoning cash transactions.
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 2020-11-28 03:20
 

Shafaq News / The Central Bank of Iraq announced, on Saturday, the launch of the electronic collection project for the housing fund and the cancellation of cash transactions.

 

The bank’s media office said in a statement received by Shafaq News that “coinciding with the trend to support the e-government program, the Central Bank of Iraq announces the launch of the electronic collection project, which can contribute to strengthening government resources and collecting them in a safe and transparent environment by relying on the infrastructure of payment systems and electronic payment platforms. Provided by the Central Bank and its licensed payment service providers, as this project generally targets ministries and collection departments that collect their revenues through bills and fees, on top of which is the Iraqi Housing Fund.

 

He added, "This project will enable the Housing Fund to automate all lending processes, adopt electronic payment tools and cancel cash transactions, which in turn will help relieve the burden of borrowing citizens by accelerating the completion of transactions and using payment platforms instead of coming to the headquarters of the Housing Fund. This has included the fund's plan." A timetable for the inclusion of all its branches in the governorates in the collection project until the end of 2021. "

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Editing date: 11/28/2020 12:33 • 69 times read
[Baghdad-Where]
The Central Bank of Iraq announced, on Saturday, the launch of the electronic collection project for the housing fund. A statement of the bank stated ,. That, "coinciding with the trend to support the e-government program, the Central Bank of Iraq announces the launch of the electronic collection project, which can contribute to strengthening government resources and collecting them in a safe and transparent environment by relying on the infrastructure of payment systems and electronic payment platforms provided by the Central Bank and its authorized payment service providers As this project generally targets the ministries and collection departments that collect their revenues through bills and fees, especially the "Iraqi Housing Fund."
The statement added: "This project will enable the Housing Fund to automate all lending processes, adopt electronic payment tools and cancel cash transactions, which in turn will help reduce alleviation." On the shoulders of citizens who are borrowers, by speeding up the completion of transactions and using payment platforms instead of attending the housing fund headquarters.
And he added: “The fund’s plan included a timetable to include all its branches in the governorates with the collection project until the end of 2021.
 
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  •  Time: 11/28/2020 11:14:52
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The Central Bank launches the electronic collection project for the housing fund
  
{Baghdad: Al Furat News} Today, Saturday, the Central Bank of Iraq announced the launch of the electronic collection project, which mainly aims to support the Iraqi Housing Fund.

The Central Bank stated in a statement that {Al Furat News} received a copy of it, that "coinciding with the trend to support the e-government program, the Central Bank of Iraq announces the launch of the electronic collection project, which can contribute to strengthening government resources and collecting them in a safe and transparent environment, depending on the structure. Infrastructure of the payment systems and electronic payment platforms provided by the Central Bank and its authorized payment service providers.
He added, "This project generally targets the ministries and collection departments that obtain their revenues through bills and fees, especially the Iraqi Housing Fund."  

The statement indicated that "this project will enable the Housing Fund to automate all lending processes, adopt electronic payment tools and cancel cash transactions, which in turn will help relieve the burden of borrowing citizens by speeding up the completion of transactions and using payment platforms instead of coming to the headquarters of the Housing Fund," indicating “The fund’s plan included a timetable to include all its branches in the governorates with the collection project until the end of 2021.”

Hussein Hatem

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In an event that is considered the first in Iraq, the Housing Fund of the Ministry of Construction, Housing and Municipalities signed a contract with the Arab Electronic Payment Company, licensed by the Central Bank of Iraq, to launch the electronic collection system for Iraqi Housing Fund borrowers in implementation of Cabinet Resolution No. 378 of 2018 and the instructions and controls of the Central Bank Iraqi.

 
 

This trend enhances government sector revenues, reduces spending and shortens red tape, as well as provides citizens with the ability to pay their bills or installments over a 24-hour period and through electronic payment cards and electronic channels such as the mobile phone application of the housing fund, the phone application of Al-Arab company, as well as through ATMs and dependent payroll outlets. For the Arab company without the need to go to the headquarters of the Housing Fund to pay the installments.

It is noteworthy that the Arab Electronic Payment Company is an Iraqi company established in 2013 and licensed by the Central Bank of Iraq to work as a provider of electronic payment services in Iraq. The company has worked for 7 years to provide modern electronic payment methods approved in the year and obtained international certificates in safety standards.

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3 minutes ago, rvmydinar said:

Now the question is how does e-rv work? Through a automatic wire-transfer between banks and between countries? If this is truly what it means, then i support system" rel="">support the e-rv.

Remember Iraq Central Bank wants all of our hard currency notes back into their Country, back into CBI coffers.

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The Iraqi Central Bank launches the electronic collection project for the Housing Fund

The Iraqi Central Bank launches the electronic collection project for the Housing Fund
The headquarters of the Central Bank of Iraq
 

Mubasher: The Central Bank of Iraq launched the electronic collection project for the Housing Fund. In conjunction with the trend to support e-government programs.

The central bank said, in a statement, that the launch of the electronic collection project could contribute to enhancing government resources and collecting them in a safe and transparent environment. Depending on the infrastructure of payment systems and electronic payment platforms provided by the Central Bank and its licensed payment service providers.

The central, that the project targets in general ministries and departments collection which aggregated revenues through bills and fees on top of the "Iraqi Housing Fund " .

The bank explained that the project will enable the Housing Fund to automate all lending processes, adopt electronic payment tools, and cancel cash transactions, which in turn will help relieve the burden of citizens who borrow by accelerating the completion of transactions and using payment platforms instead of coming to the headquarters of the Housing Fund.

The fund’s plan included a timetable to include all its branches in the governorates with the collection project until the end of 2021 .

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