Iraq to bring in central payment gateway

[Sara Johnson]

Iraq to bring in central payment gateway

• Iraq: 12 hours, 25 minutes ago

Iraq's central bank has signed a memorandum of agreement with the US Agency for International Development (USAID) to introduce a central payment gateway aimed at boosting transactions in the private retail banking sector, Reuters has reported. The $15m-$20m Iraq payment system (IPS) will allow individuals and businesses to make and receive interbank and international payments electronically via a single gateway.

http://www.ameinfo.com/264760.html

[kevnutz]

This sounds interesting!

[jupitergirl]

Don't you need a recognized currency to do these types of transactions ??? HMMMMMM !

[po'boy]

Verrrry interesting!

[InItSince05]

Verrrry interesting!

I like it!

[Flash101]

WELL do it pull that trigger. Let's get this over the church and some members needs some help. LET'S do it

[sonny1]

Huge,this the biggest news yet. It has to be tradeable. Game....set....match. people will never understand how big this is.....

[rsskelton]

Huge,this the biggest news yet. It has to be tradeable. Game....set....match. people will never understand how big this is.....

Hey Sonny1 great to see a post from you! Hope you are well and yeppers, I agree, this would be HUGE!!!

[dinarmamma]

Don't you need a recognized currency to do these types of transactions ??? HMMMMMM !

Does the currency have to be recognized for this? If so this is awesome news!

[havasumom]

lets get it done!!!

[kwg]

Sarah can I give you +10 for that one

[Dalevoss]

my palms are sweatin'

[hoosier1470]

I still fully believe that they will pull the trigger tonight thru sunday night...imfo sorry, all of the media and dignitaries are not in Iraq for the little bit of info M handed out today! Just my humble opinion...but its and opinion I believe in wholly! Oh...great post.....thank you! + 1

[summershah]

Great post thank you.

[Pegleg]

Thank you for the post Sara. It is indeed a great post

[ROCKSCISSORSPAPER]

This is another step closer to

[Kathleen]

THANKS SARA THIS SOUNDS GREAT TO ME

[jomans]

I'm surprised that more peeps on this site are not dancing with this news... it implies that the International Gateway that is being set up by the CBI and Rueters will be used by folks inside IRAQ to send and receive payments for goods with other countries internationally. Now, keep in mind, they use Dinar to receive and issue payments. So, this implies that banks of other countries will have to recognize Dinar for payment and/or exchanges for converting to their own currency of choice. So, there you have it folks..... this points to the IQD being recognized internationally. VERY BIG NEWS.

[grkabme]

Iraq to bring in central payment gateway

• Iraq: 12 hours, 25 minutes ago

Iraq's central bank has signed a memorandum of agreement with the US Agency for International Development (USAID) to introduce a central payment gateway aimed at boosting transactions in the private retail banking sector, Reuters has reported. The $15m-$20m Iraq payment system (IPS) will allow individuals and businesses to make and receive interbank and international payments electronically via a single gateway.

http://www.ameinfo.com/264760.html

This could be huge because it is my understanding that a country does need a globally recognized currency to use the central payment gateway. Nice find.

[Dianne]

Great post!

[dinarmamma]

OK, so many of you answered my question and probably didn't know it. I'm super excited now knowing that they would need to be a globally recognized currency for this to be used. Very great news!!

GO RV!!

OK, so many of you answered my question and probably didn't know it. I'm super excited now knowing that they would need to be a globally recognized currency for this to be used. Very great news!!

GO RV!!

[chilli24]

IMO this is huge!

[wayoutwest]

This deal sounds good. Hope we get to use it. Yesterday would not be soon enough!

[pontiyak]

Very Encouraging news...Thanks Sara

The best things in life RV

yak

[mlay901]

This is HUGE!!!! Go RV!!!