View Full Version : Calls for the adoption of the electronic banking services

Hue Mi
10-19-2013, 11:16 PM
Calls for the adoption of the electronic banking services (http://www.iraqhurr.org/content/article/25141693.html)



The Finance Committee in the Chamber of Deputies, the Iraqi banks to activate some of the modern banking services, such as the settlement of financial transactions through cell phones, or a credit card to minimize paper currency.

Commission member Abdul Hussein Al-yasiri, said in a statement to radio free Iraq "to find new ways to settle cash transactions electronically, will make it easier for citizens and merchants alike, those transactions without the need to consult banks, utthaml the consequences of fast money and the risk of theft, as well as reducing the use of paper currency, which of course reduces the need for replacement and printing new ones from time to time."

Economists welcomed the invitation of the parliamentary Finance Committee, because it is in their view a step in the right direction.

The Economist on behalf of Creative Commons to "there was excessive use of money in Iraq, that there is a huge cash circulating in the market up to trillions of dinars."

The President of the Association of private banks in Iraq Abdul Aziz Hassoun hardly enable financial transactions electronically, during the current phase, due to the lack of necessary infrastructure to support this type of banking services.