The Ministry of Finance sets new conditions for "electronic payment" in Rafidain and recommends canceling the contract

[DWS112]

The Ministry of Finance sets new conditions for "electronic payment" in Rafidain and recommends canceling the contract

May21,2021

 

On Friday, Minister of Finance Ali Allawi issued new conditions regarding the "electronic payment" project in the Rafidain Bank.
Documents signed in the minister's name included a recommendation to cancel the contract, rewrite it, or to draft a new contract according to new conditions.
 
Below is the text of the documents:

 

 

 

 

 

 

Wonder what these NEW conditions could be... DWS112

[NEPatriotsFan1]

20 minutes ago, DWS112 said:

The Ministry of Finance sets new conditions for "electronic payment" in Rafidain and recommends canceling the contract

May21,2021

 

On Friday, Minister of Finance Ali Allawi issued new conditions regarding the "electronic payment" project in the Rafidain Bank.
Documents signed in the minister's name included a recommendation to cancel the contract, rewrite it, or to draft a new contract according to new conditions.
 
Below is the text of the documents:

 

 

 

 

 

 

Wonder what these NEW conditions could be... DWS112

They have to send the increase in value to my bank account directly.... do not pass go do not collect $200 dollars.  Those are my conditions anyway! I can’t read Arabic so I don’t know what those ones say 😂😆

[3 bucks new rv rate]

11 hours ago, DWS112 said:

 

 

sadly, they still hold the 25,000 dinar note because i wish they will hold the new lower denoms of 25 dinar note one day ( that's more like it ).

[md11fr8dawg]

Has Rama-Lama-Ding-Dong ended yet?

[gregp]

3 minutes ago, md11fr8dawg said:

Has Rama-Lama-Ding-Dong ended yet?

3 minutes ago, md11fr8dawg said:

Has Rama-Lama-Ding-Dong ended yet?

Yup

[gregp]

Ok, as a former POS/credit card salesman, I noticed the words in English, “PCI Compliance.”

 

Might be flipping over to a new digital POS platform.  
 

This could be good!

 

 Thanks DWS 

[gregp]

8 minutes ago, gregp said:

Ok, as a former POS/credit card salesman, I noticed the words in English, “PCI Compliance.”

 

Might be flipping over to a new digital POS platform.  
 

This could be good!

 

 Thanks DWS 

DWS,

This could be really good news. 
If Iraq just signed a contract to process on a new/different platform, than their current point of sale wouldn’t allow them to process on the new digital platform. The may of had to switch to go live. 
If so, we’re here. 

[DWS112]

13 minutes ago, gregp said:

If so, we’re here. 

gregp -  Your summation sounds good to me! Thanks

[gregp]

Sorry, I was half asleep on my last post. 
I’ve had some coffee now...

If Iraq just signed a contract for their banks to process on a new digital platform, than this means the new platform wouldn’t accept the  point of sale system currently being used to communicate between the CBI and the banks.

If so, the CBI and banks would have to purchase a new POS system that would process on the new digital platform. 
Communicating  bank to bank in country  and globally, and have transparency monitoring via the CBI. 
 

I personally think I’m digging way to deep. Who knows. 
A translator would be awesome.  
Thanks. 

[Half Crazy Runner]

1 hour ago, gregp said:

as a former POS/credit card salesman,

I had to read that 3 times before I realized you meant “point of sale” and not .... something else 😁 forgive me, no coffee yet! 

[JonnyV]

I thought the same thing HCR.   lol

[dinarham]

 My understanding is that Iraq is gunning for Basel 3 status .This status requires the latest system in electronic world wide money transfers , and also pristine credit ,money in the bank to assure repayment on any loan .

[Longtimelurker]

2 hours ago, gregp said:

 

Sorry, I was half asleep on my last post. 
I’ve had some coffee now...

If Iraq just signed a contract for their banks to process on a new digital platform, than this means the new platform wouldn’t accept the  point of sale system currently being used to communicate between the CBI and the banks.

If so, the CBI and banks would have to purchase a new POS system that would process on the new digital platform. 
Communicating  bank to bank in country  and globally, and have transparency monitoring via the CBI. 
 

I personally think I’m digging way to deep. Who knows. 
A translator would be awesome.  
Thanks. 

Great info, please continue to share your expertise👍

[Laid Back]

PCI Compliance directs how organizations should securely manage credit card payments and payment card data in order to best protect the collection, storage, and transmission of cardholder data.

 

The standard was set up by the Payment Card Industry Security Standards Council (PCI SSC), which is made up of the major credit card companies (American Express, Discover Financial Services, Visa, Mastercard and JCB International).

 

They are moving from a cash society to an electronic society 

 

The banking system is getting ready for an open market economy.

 

We wait.!

 

Go CBI

Go development of banking system 

Go open market economy 

Go RV

 

 

 

 

[gregp]

13 hours ago, Laid Back said:

PCI Compliance directs how organizations should securely manage credit card payments and payment card data in order to best protect the collection, storage, and transmission of cardholder data.

 

The standard was set up by the Payment Card Industry Security Standards Council (PCI SSC), which is made up of the major credit card companies (American Express, Discover Financial Services, Visa, Mastercard and JCB International).

 

They are moving from a cash society to an electronic society 

 

The banking system is getting ready for an open market economy.

 

We wait.!

 

Go CBI

Go development of banking system 

Go open market economy 

Go RV

 

 

 

 

Yes sir!