Electronic payment tools
24/7/2017 12:00 am
Mohamed Sharif Abu maysam
Are the amount of money stashed away and outside the banking trade, a clear imbalance in the structure of financial and monetary architecture in scene the Iraqi economy, still challenging providers' fiscal and monetary "unable to deal with the systemic problems despite having the financial, monetary and legal tools to stimulus measures for moving block the Central Bank underrated chunky by about 70% of the cash out and about 40 trillion dinars.
And about that policy providers have the potential to accelerate the complete electronic payment tools systems intended to transfer money and traded on electronic systems Kit be available to workers in banks and individuals alike, reduced episodes of SAG in the banking and commercial services and facilitate the movement of funds and ensures the absence of theft or damage, thus contributing to move blocks gulper cash hoarder when public safety and confidence always researcher and quality.
Despite been told and told about the full transition of manual clearing work system to electronic clearing, and what was said on the launching of "chunked" system for exchanging money transfers through credit cards which will bind a single communications network banks and ease a lot of trades and banking transactions and can eliminate routine in auditing banks and performing transactions as quickly as possible, through the electronic payment instruments,
And what was said in last January on the adoption of international accounting number IBAN in all domestic and foreign transfers for the purpose of consolidating bank accounts what would contribute to improving the level of financial and banking services and overcoming common mistakes in using customer account numbers when you transfer and what was said about the electronic system for the exchange of credit information named CBS which could push toward leaving the working method adopted for paper correspondence and contributes to assess credit risk and quick decisions in granting loans and repayments and clearing and what was said Also on the electronic form for loans the Central Bank initiative for specialized banks and Central confirmed on amendments introduced by entering currency auction mechanisms, and deciding on the independence of the Office of combating money laundering at the Bank.
As well as contracting with international companies for training on modern combat money laundering operations and founding sections in the Government and private banks to spread awareness and protection of the public and other steps, but the exchanges and financial dealings are still orbiting within the routine. Routine extruder for trust and security agents searching the public to deal with the banking system.
Yes it's not easy and needs more work, training and legislation towards access to electronic money trading completely abolished by having something named "chunky cash block" but the question here is, why delay after this significant progress in achievement?