Questioning successfully "electronic payment in private banks and specialist sees a move to release it from the" totalitarian regime "

CDs of the Iraqi currency in a bank Long-Presse / Baghdad Questioned Iraqi banks, on Sunday, the possibility of the success of "electronic payment" system, which called him the Iraqi Central Bank, and showed that Iraqi banks are not eligible to work in this system, counting financial expert, that this system will accelerate the delivery of services and frees the banking business of "totalitarian regime" .
He said managing director of the Islamic Bank country Iyad Salman in an interview with the (long-Presse), "the Iraqi especially private banks, are not eligible to enter the electronic payment project", attributing this to "points several notably debt experienced by banks was not able to put it yet, as well as the lack of new deposits, both of citizen or government agencies, as well as the current conditions of the country, especially that the majority of banks and related activities. "

And saw Salman, that "citizen trust banks but conditions do not encourage the use of such electronic service", demonstrating that a "limited number of users of Visa Service Card launched by several banks for nearly five years, as it did not exceed the number of dozens so far."

Also confirms professor of economics at the University of Baghdad, Sheikh Mahmoud, in an interview to the (long-Presse), the difficulty of the success of the project is currently in Iraq, attributing it to "not to amend the banking laws as well as the tension of the Iraqi citizen's confidence and private companies remittance banks".

According to Sheikh, the "electronic payment process depends on the mobile phone companies system," adding, "as these companies suffer many of the technical and logistical problems in its certificate of Information and Communications Authority and the Ministry of Communications, and the private banks and money transfer lacked the infrastructure for the electronic systems infrastructure and it takes a long time until you get used to it, so the chances of success of the project is very weak. "

, Said professor of economics at Baghdad University that "red tape and legal complexities for granting such a license in the Iraqi Central Bank, makes it willing to work averse electronic payment system of electronic payment project."

But financial expert Hisham Faraj grace sees in an interview with the (long-Presse), said that "the Central Bank step relating to stimulate the deal Order mail, came at a time when the financial sector needs further development and opening to the outside world that preceded Iraq's big stages," noting that "Iraqi Central Bank to banks approved an invitation to work the financial transfer come by seeking to develop a system of payments by adopting modern technology to ensure speed of service delivery and quality away from the routine and waste of time, as well as the liberalization of the banking business of the totalitarian regime complex off Free sophisticated."

He said a blessing, that "the work of electronic payment system with the participation of mobile phone companies, gives citizens the opportunity and the ability to transfer funds from their accounts to any bank or branch or someone else, what saves time, cost and effort, as well as reducing security risks of trading large amounts in cash as a result of the deal-making business or shopping. "
He said the financial expert, that "the central bank strives to work this system through the training of its personnel to work with and the calling of banks and other companies for that, and to create awareness of the importance of the project for the citizens supplies".

The Central Bank of Iraq has allowed exchange companies is approved in the work remittance work this system, where the source in the bank said in an interview to the (long-Presse), during the past 2014, that the companies that do not have a license from the Bank and would like to work as a provider service electronic payment It must obtain a license from the Directorate General of the banking and credit control and commitment, along with the importance of the requirements to be a capital payment service provider in the amount of 10 billion dinars, and be reviewed after three years from the issuance of instructions.

The central bank reiterated his call about two months ago, for those interested from banks and companies winning licenses from it, and companies money transfer and mobile phone, the practice of 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 that service commitment Dwabth condition.
And between the bank that "the granting of the license fees amounting to five million dinars paid for once when granting the license as well as a letter of guarantee by 15 percent of the capital renew annually to adjust the ratio in light of the company's balance sheet issued after the fiscal year end," he continued that the "applicant payment of wages consider the request to participate in the project and the national retail payment divider The 2.0005 million thousand dinars are not refundable. "

And the Iraqi banking system consists of 54 banks, including seven state-owned newly established Islamic one, and there are 23 private commercial banks, including Islamic nine. There are also 15 branches of foreign banks, and there are many institutions that do some banking, of which 34 money transfer company, and nearly 200 belonging to banks, foreign exchange company or deal with the banks, with the Loan Guarantee Company and to finance small and medium enterprises, with two companies for services of electronic banking and card Smart, in addition to nearly 800 branches and subsidiary banks spread over Iraqi provinces.