He Keywords that "the second phase of a retail of transactions daily for individuals to pay their obligations through electronic or mobile phone and other card payment system," noting that "the role of the central bank is monitoring and supervision beyond the field to the presence of problematic in banking transactions at the country level and the requisite large size of the precise organization. "
He explained the governor, that "the role of the central bank may be an operator or partner or used for system electronic banking," stressing that "the future role of the Central Bank is to supervise the system to be entrusted to operating the task to a company or a group belonging to the private sector companies."
Keywords and saw that "the application of electronic trading requires work to provide the infrastructure required," pointing out that such "legislative legal structure governing the banking services to all its details."
He said the central bank governor, that "the Central Bank conducted a comprehensive review of the laws of banking and regulations in force and to develop an initial draft of the required legislation in this area, and issued an electronic payment system and controls subscribe to the infrastructure of the payment system retail," noting that "the amount of $ 20 trillion dinars are being handled by a month under this system, a fast, accurate and support the national economy, away from a lot of problems. "
Promised Keywords, said that "very cool and sophisticated retail payment system and helps the bank to follow all these processes and to prevent violations and abuses, which is updated through the end of 2015, which are no problem," pointing out that "the Central Bank is currently working with the World Bank to review and evaluate the national payments system, where it was formed three locations of the data in the whole of Iraq, as well as one location outside Iraq to recover from the risks. "
He went on, saying the central bank governor, said that "Iraq needs a comprehensive banking systems, followed by the banking system to be able to achieve its objectives," revealing "a lack of State-owned banks for such an electronic system even though it has hundreds of branches."
And gave Keywords "State-owned banks until next September, to adjust their positions within this electronic system," Mstrsla that "the central bank takes the organizational side by issuing controls the use of electronic credit cards and there are plenty of companies that submitted bids for work on the processing of these cards the bank to the fact that the center has divided National, which regulates these processes, and represents an incubator electronic banking operations. "
Continued conservative, that "the Bank has developed a court will be launched in early 2017 to regulate such operations plan," and expressed regret that "as a result of the low percentage of beneficiaries and users in Iraq who do not exceed ten percent, and eight percent of these are very limited operations such as receiving only salary, and that only two percent of Iraqis are using smart cards ".
He expressed the Keywords, believed that "the trends in will help expand financial inclusion through the entry of more citizens to these systems and thus take advantage of in the possession of people's money supply which amounts to 77 percent outside the system, as well as get rid of the cash circulation problems."
The governor of the central bank and the agency, identified in (the thirtieth of July 2016), the next year in 2017, as the date for the launch of the electronic currency through the mail or e-dinar cards, he returned that will facilitate transactions between government departments. LINK http://ift.tt/2aHwfll
[tlm724] Thank you BondLady !! Loving the news outta Iraq !!
[tlm724] Iraqi Central Bank revealed on Monday, all give him the government banks until next September, to adapt itself to electronic systems and transactions *wolfwhistle*
[tlm724] love a time schedule
[tlm724] while among the beneficiaries and users proportion of those dealings in Iraq, "not to exceed" ten percent, favored the possibility of the contribution of orientations to expand their use and take advantage of 77 percent of the money supply in the possession of citizens outside the banks, get rid of the cash circulation problems
[tlm724] take advantage of 77 percent of the money supply in the possession of citizens outside the banks, get rid of the cash circulation problems
[tlm724] get those dinars in the bank !!
[tlm724] Shredd the deposit law is done and has been Gazetted
[Shredd] had to be for this move
[tlm724] yes !
[tlm724] He Keywords that "the second phase of a retail of transactions daily for individuals to pay their obligations through electronic or mobile phone and other card payment system," noting that "the role of the central bank is monitoring and supervision beyond the field to the presence of problematic in banking transactions at the country level and the requisite large size of the precise organization.
[Shredd] what's nice about this is as the currency regime changes, the real time adjusting will rely heavily on e-funds
[Shredd] this is a good marker that the CBI continues to move forward
[tlm724] And gave Keywords "State-owned banks until next September, to adjust their positions within this electronic system," Mstrsla that "the central bank takes the organizational side by issuing controls the use of electronic credit cards and there are plenty of companies that submitted bids for work on the processing of these cards the bank to the fact that the center has divided National, which regulates these processes, and represents an incubator electronic banking operations
[tlm724] Shredd just so your caught up Ernst & Young have 125 days of control of the state banks, getting them up to par
[Shredd] tyvm
[tlm724] yw
[tlm724] "the Bank has developed a court will be launched in early 2017 to regulate such operations plan," and expressed regret that "as a result of the low percentage of beneficiaries and users in Iraq who do not exceed ten percent, and eight percent of these are very limited operations such as receiving only salary, and that only two percent of Iraqis are using smart cards
[tlm724] only 10 % of the population is using the electronic system right now but not for long !!
[tlm724] that "the trends in will help expand financial inclusion through the entry of more citizens to these systems and thus take advantage of in the possession of people's money supply which amounts to 77 percent outside the system,
[tlm724] this is going to bring in trillions of dinars off the streets which is exactly what we want !
[tlm724] stability is ongoing as well, all the things needed to make the transition and delete the zero's !
[Shredd] my mind goes to the ease of investments too
[Shredd] as the credit rating improves, banking laws implemented and ease of transactions, we are seeing big steps being taken these last few years to get Iraq on par with participating in the lending/borrowing investment economic process. Steps forward not steps backwards!
[tlm724] quantum leaps !!!
[Shredd] and with the deposit law, good stuff
(This was added later):
Tlm724: The central bank gives the government banks until September to adapt itself to the electronic systems
12:50:25 1.8.2016 | (Voice of Iraq) - Baghdad revealed the Iraqi Central Bank, on Monday, all give him the government banks until next September, to adapt itself to electronic systems and transactions, while among the beneficiaries and users proportion of those dealings in Iraq ,
"not to exceed" ten percent, favored the possibility of contribution orientations to expand their use and benefit from 77 percent of the money supply in the possession of citizens outside the banks, get rid of the cash circulation problems.
The governor of the central bank and the agency, on the Keywords, " The payment system is an important pillar of the banking and financial sector," he said . " consists of two phases first is related to the large total transactions between banks and companies within the system is settled and conducting clearing operations and liquidation of the great number of daily banking transactions. "
He added Keywords," The second phase is a system of payment Retail of transactions daily for individuals to pay their obligations through electronic card or mobile and other phone , "noting that" the role of the central bank is monitoring and supervision beyond the field to the presence of problematic in banking transactions at the country level and the requisite large size of the precise organization. "
He explained the governor, that" the role of the central bank may be an operator or partner or using the electronic system banking , "stressing that" the future role of the Central Bank is to supervise the system to be entrusted to operating the task to a company or a group belonging to the private sector companies.
" felt Keywords, that" the application of electronic trading requires work to provide the infrastructure required , "pointing that such "legislative legal structure governing the banking services to all its details."
He said the central bank governor, that " the Central Bank conducted a comprehensive review of the laws of banking and regulations in force and to develop an initial draft of the required legislation in this area, and issued an electronic payment system and controls subscribe to the infrastructure of the payment system Retail ,
"noting that" the amount of $ 20 trillion dinars are being handled by a month in the framework of this system which is fast, accurate and support the national economy, away from a lot of problems. "
promised Keywords, said that" very cool and sophisticated retail payment system and helps the bank to pursue all these operations and to prevent violations and abuses, which is updated through the end of 2015, but not as a problem , "
pointing out that" the Central Bank is currently working with the World Bank to review and evaluate the national payments system, which was formed three locations of the data in the whole of Iraq, as well as one location outside Iraq to recover the risks. "
he went on the central bank governor , saying that" Iraq is in need of a comprehensive banking systems followed by banks to enable the system to achieve its objectives , "revealing" a lack of State - owned banks for such an electronic system even though it has hundreds of branches. "
and gave Keywords "State - owned banks until next September, to adjust their positions within this electronic system," Mstrsla that " the central bank takes the organizational side by issuing controls the use of electronic credit cards and there are plenty of companies that submitted bids for work on the processing of these cards to the fact that Bank Center has a national divider which regulates these processes, and represents an incubator electronic banking operations. "
continued the governor, that" the Bank elaborate scheme will be launched in early 2017 to regulate such operations , "and expressed regret that " as a result of the low percentage of beneficiaries and users in Iraq who do not exceed ten percent, and eight percent of these are very limited operations such as receiving salary only, and that only two percent of Iraqis are using smart cards. "
He expressed the Keywords, believed that" the trends in will help expand financial inclusion through the entry of more citizens to these systems and thus take advantage of in the possession of people 's money supply which amounts to 77 percent outside the system, as well as get rid of the cash circulation problems. "
the governor of the central bank and the agency, identified in ( the thirtieth of July 2016), in the next 2017, as the date for the launch of the electronic currency through the mail or e - dinar cards, they returned that will facilitate transactions between government departments.
http://ift.tt/2aKal0V
http://ift.tt/2aplQq3
~~~~~~~~~~~~~~~~~~~~~
The central bank sets the date of the launch of the electronic currency in Iraq
Ali Abdul Salman 47 08/01/2016 Revealed the governor and agency of the Central Bank, on the Keywords, the identification of next year as the date for the launch of the electronic currency through a dinar or e - card.
http://ift.tt/2apmTX0
Keywords and said, in a press statement on Sunday, said that the launch of the electronic currency would be after the termination of the Central Bank of infrastructure structures necessary for the operation of electronic payment through dinar electronic Oualbtaqat.
He Keywords that this order would facilitate the deal between the state institutions, adding that the country is facing economic challenges and overcome them dependent on an improvement in oil prices as a financier President of Finance for the budget.
the oil Ministry has stressed, in a statement on Saturday that oil prices have implications and effects on Iraqi economic reality, and in order to cope with these effects is necessary to build a new Iraqi economy depends on agriculture , and to encourage other industry sectors.
http://ift.tt/2aqpPpk
[tlm724] *wolfwhistle*
[tlm724] the Central Bank, on the Keywords, the identification of next year as the date for the launch of the electronic currency through a dinar or e - card
[tlm724] that the launch of the electronic currency would be after the termination of the Central Bank of infrastructure structures necessary for the operation of electronic payment through dinar electronic Oualbtaqat.
[tlm724] infrastructure structures is getting all the banks and machines ready which we just read about Wink
The central bank gives the government banks until September to adapt itself to the electronic systems
http://ift.tt/2aplQq3
