central bank seeks to limit use of cash (CASH) in the country

[Hue Mi]

The central bank seeks to limit the use of cash (CASH) in the country

16/08/2012 14:41:00



The independent Iraqi news agency / Baghdad / n. X ...
Said the Iraqi Central Bank seeks to reduce the use of cash (CASH) in the country, because of geography and the challenge of security issues that make the transfer of money within the country is difficult and risky.

The bank said in a statement carried by (and independent Iraqi News Agency) "heading efforts to automate the processes of settlement of checks and payroll systems, and activate the automation of electronic card, to keep more cash in bank accounts."

"The central bank is currently working with local bodies and external in order to pass a law specific to each electronic payment systems to be working within a legal environment healthy,"

adding that "Iraq has one of the most payment systems, electronic art in the world, the system responsible for the exchange of payment orders between banks automatically using the network safe and effective"

and that" responsibility for the operation and management of the accounts of the settlement between the participants to ensure the safety and efficiency of payment systems and clearing be limited to the central bank itself."

and that" the payment systems of Iraq is made ​​up of the settlement system total real-time system and clearing mechanism and system registration of securities of government."

and that" the automation of the primary market for the system of government securities, which began work on it by the Bank and in consultation with the Finance Ministry in 2008, while seeking to automate the activities of secondary market commercial, which will hopefully work on it soon."

Number of Views 149

[jimmydweber]

This was supposed to be done already. Via the news. Apparently not, Iraq a country full of liars and clowns, running the country in the ground. jmo

[Hue Mi]

Central Bank seeks to reduce the cash trading currency within the country

16/08/2012 13:29

Said the Iraqi Central Bank seeks to reduce the use of cash (CASH) in the country, because of the challenge of geography and security issues that make the transfer of money within the country is difficult and risky.

The bank said in a statement today "moving endeavors to automate the processes of settlement of checks and salaries and activate automation systems for electronic card, to keep more cash in bank accounts."

"The central bank is currently with local and foreign to pass a law for each electronic payment systems to be working within sound legal environment," adding that "Iraq has one of the most payment systems sophisticated electronic world, a system responsible for the exchange of payment orders between banks automatically using a network safe and effective. "

"The responsibility for the operation and management of accounts settlement between participants to ensure the safety and efficiency of payment systems and clearing operations are limited to the central bank itself."

Noting that "Iraqi payment systems consist of the gross settlement system in real-time and automated clearing system and registration system government securities."

He pointed to the completion of the "primary market for the automation system of government securities, which began working on them by the Bank, in consultation with the Ministry of Finance in 2008 while seeking to automate the activities of secondary market trading and which will hopefully work out soon."

The central bank said earlier that the "national project chunked or retail payments system is one of the fundamentals of the financial infrastructure of the new Iraq."

The deputy governor said the appearance of Mohammed Saleh in an earlier statement to the National Iraqi News / Nina / "This project will serve large banking for citizens through the consolidation of all banks, whether civil or governmental system chunked National, which aims to improve the payments system in Iraq."

He explained that "this credit card system works and that will be available to all citizens to facilitate internal financial transfers between individuals in all provinces."

He added that "this system allows withdraw and transfer money from the sales outlets or points system for all banks, which will be spread across parts of Iraq." Adding that "the work in the project, which does not require the enactment will start soon."

He said that the central bank law allowing the issuance of rules and regulations related to the payments system and its own projects such as National Distributor which connects all the government and private banks a unified communications network.

[AbuSpinoza]

10 light years away. lol

[manwithnoname]

Hope its more use than "our" Warka cards!
MWNN

[Captain Kirk]

10 light years away. lol

That's just around the corner for me!

Ready the engines Scotty!