View Full Version : Central bank: electronic payment in its final stages and the private sector participa

09-19-2015, 01:51 PM
Fiber optic linking of the banking system done completing final testing/ functionality of local electronic payments

Central Bank building one independent bodies according to the Iraqi Constitution .. Photographed by Mahmoud Raouf

Central bank: electronic payment in its final stages and the private sector participated in the project secured

Author: AR, ASJ, HH

Editor: AR, HH 2015/09/19 10:24

Long-Presse / Baghdad

The Central Bank of Iraq, on Saturday, that the electronic payment in the final stages of the project, while noting that private sector companies participated in the locked.

The governor of the Central Bank on the Keywords in an interview with the (long-Presse), "The Central Bank of Iraq ended all integration and interconnection of national PBX technical requirements with several parties (Bank of TBI, Assyria Bank, Amwal, the Middle East Bank)," noting that " Ready to jump-start waiting for the actual termination of the supplementary stages of the tests to be local electronic payments and cards from which will be settled through the RTGS system. "

Keywords and added that "the Bank in the final stages of licensing two companies to pay by mobile phone and these two companies on standby to provide services in the whole of Iraq anyway to get the license," asserting that "the Bank is working with banks and specialized companies to launch government collections electronically".

Keywords and pointed out that "the central bank, in order to keep abreast of developments in the field of banking contacts completed plans, in cooperation with the Ministry of Communications to create a network linking the main branches of banks with the central bank and its branches operating techniques of optical cable," explaining that "these technologies will be a substitute for the current wireless network is opens up new horizons in the field of movement of data confidentiality, reliability and high availability is very high. "

The central bank called in late 2014 and renewed his call about two months of this year wishing from banks and companies winning licenses from him before to expand the work of banks and money transfer and mobile phone companies and the exercise of any of the electronic payment activities in the event of their willingness to work electronic payment services system, stressing that they have to submit formal requests for the exercise of this service commitment system requirements and provide all the archives condition.

The banking system in Iraq is made up of 54 banks as well as the Central Bank and distributed by property between (7) state banks and 23 commercial banks, special, including (9) Islamic banks in addition to the 15 branches of foreign banks and more than 2,000 companies Exchange and transfer of Mali.

09-21-2015, 12:00 AM
Great news. Been waiting to hear this since '06.

09-22-2015, 03:53 AM
Indeed good news !!! I just want to see Warka back trading again :(....and my Master Card working again :)

09-22-2015, 10:30 AM
Yes it would be Great