On: Sun 12/18/2011 8:21
□ Baghdad / economic-term follow-up
Ministry of Finance announced that the advance percent salary for state employees not covered drop interest them, while ruled out replacing Iraqi currency during the next two years. And Finance Minister Rafie al-Issawi's "Sumerian News:" The advance percent salary for State employees will not be covered by dropping the interest is
Of 8% attributing the cause to link the Rafidain and Rasheed, which confer the advance deposits of the public.
Issawi said that "banks are pushing the benefits of 6% of the citizens of depositors to them, and therefore they are not able to lend to employees without the benefit of," noting that "the loans covered by dropping the interest is included loans of Agricultural Bank and Mortgage and Housing Fund and retroactively."
He said al-Issawi that "the financial budget for the coming year 2012, and developed a material that exempting all borrowers from the bank and agricultural real estate and housing fund of interest in order to encourage construction of housing units and the elimination of the housing crisis in Iraq."
The cabinet approved the eighth of December, the current, the budget next year 2012, of 117 trillion dinars and a deficit of 14 trillion dinars, while the operating budget 80 trillion dinars and 37 dinars trillion as investment budget.
The Ministry of Finance has decided since 2008, through the Rafidain and Rasheed, in coordination with the ministries and government departments grant advances and loans to employees of different but not less than the staff member for five years in accordance with the conditions and controls specific to that, that does not exceed the loan of 50 million dinars and an interest rate of 8% to pay within ten years.
In another context, the Secretary of Finance "to replace the current Iraqi currency with new ones during the next two years because of the Economic Commission not to adopt the draft of the new currency provided by the Central Bank of Iraq to delete the zeros and issuing forms for the new currency."
The Deputy Governor of the Central Bank of Iraq for the appearance of Mohammed, predicted in an interview for "Alsumaria News", in September of this year, that is the currency exchange in the new fiscal year for the year 2013.
It is noteworthy that the Iraqi Central Bank Governor Sinan Shabibi confirmed at a meeting of independent bodies with Prime Minister Nuri al-Maliki, in the 19 of June, ready to create all the supplies to replace the Iraqi currency.
In the meantime, the Iraqi Central Bank announced the start of the national key project which is interested in introducing new technologies in the banking system by facilitating the work of payment instruments and in Iraq.
The deputy governor of the Central Bank of the appearance of Mohammed Saleh (Agency news): The Central Bank is working hard to introduce modern technologies in the Iraqi banking system through the use of electronic devices to facilitate the work and the instruments of payments between banks within the Iraqi national project called the key.
And the benefit is that this project is an electronic device inventor called (Qassim national) works to facilitate the withdrawal of money fast and brief for people who have credit in Iraqi banks of any bank they want within this device instead of going to the bank, which was filed be trusted , for the purpose of the payments system and facilitate the exchange of instruments between banks in Iraq, in addition to the introduction of mobile technology to know the bank account and credit transfer through a collaboration with the mobile communications companies in Iraq.
He explained: Qassim said a national managed by a company that specializes in this work for certain wages and are monitored by the Central Bank of Iraq to determine their performance and the extent of its capabilities and efficiency in the process of providing financial services to the citizen.
And pointed out: that there is a local and international companies expressed their desire to manage this device will be announced soon for an international tender to enter the largest number of companies to choose the company efficient, which will manage the device, and continued after it is determined the company would be the formation of the national top consists of: representatives from the Central Bank and the Ministry of Finance as well as banks and telecommunications companies to monitor and organize the work of this device for fear of differences in the process of drawing and performance.
The deputy governor of central bank monetary policy in Iraq continues in the process of introducing modern banking technologies and works invisibly with the help of international organizations and international institutions for the success of the plans for the development of the banking sector in Iraq, those of U.S. development and the World Bank and all other international organizations in countries friendly to Iraq.
In the period from (18 to 19) of the month of November of this year, the systems department development plan, the financial one section of the Central Bank conference Nqashiya in Istanbul to study the draft key national to facilitate dealings in credit cards and ATMs for the development of e-banking in Iraq.
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