Electronic payment reduces the risk of hoarding money 4-3
Electronic payment reduces the risk of hoarding money
BAGHDAD - Hussein Tgb head of the Iraqi private banks association Wadih Alhntl stressed the necessity of activating the recommendations of the workshop payment system and electronic collection for its role in achieving economic viability, especially that it is focusing on the development of banking products and reach out to the world.
He added in an interview with «morning» that the advancement of banking work necessary because the focus of the start of the economic development process, pointing out that the recommendations carry great importance and it focused on the shift towards electronic payment different his tools various payment cards and payment via mobile phone, as well as payment through the Internet and products Other, noting that the issuing banks and card process to be part of their future plans for the purpose of reducing cash handling and changing carry cash habits and reduce the risk of Aktnazha among the public, as well as spreading the culture of the acquisition of alternative tools it in line with the Central Bank of Iraq Law and the Iraqi banks and the system of electronic payment of money No. 3 of 2014.
competition and transparency and pointed to the importance of direct international institutions to benefit from the potential of banks licensed and companies from the Iraqi Central Bank to provide electronic payment services under contracts take into account the competition, transparency and good performance, as well as encouraging ministries , public and hybrid and private institutions to deposit salaries and wages earned for Mnzbehm in their accounts the banks that placed controls by the Central Bank of Iraq to monitor the liquidity of the banks to ensure their ability to repayment while demand and prevent the delay or loss of deposits staff, and user institutions may be contracted with the banks , which in turn draw providers of electronic payment licensed services from the central bank in order to find a deal trustee salaries for associates.
Handal pointed to the importance to take over the banks with the payment service providers and collection staff working with the development of mechanisms of action commensurate with the nature of the service to ensure smooth flow of work and comprehensive POS and ATMs, noting that providing payment services and collection of IT companies Bmaverm telecom companies, are not entitled to exercise the banking business , which is one of the core competence of banks and restricted their work as a (subcontractor) has licensed banks by the central bank, to ensure the existence of public deposits exclusively in banks and so banks are guarantors of the rights of the customers are and take the central bank function normal as banks Bank to monitor management indicators liquidity risk to the banks to meet the withdrawals and the size of the credit and doubling the credit and the money supply and other indicators.
incentives encouraging and said that the central bank 's influence and responsibility Tmtdan in terms of control liquidity and to control money supply custom and corporate banking practiced banking activities of commercial banks, while the responsibility extends to the beneficiaries circles and institutions of various banking services in terms of payment and collection, among others.
He noted that to those who collect the money the possibility of using different types of incentives to encourage citizens to electronic payment such as an opponent of the amounts ratios, stressing that the recommendations urged the licensed companies from the Central Bank on the development of their systems linking the levy payment service service and be an important factor in the field of competition to get the decades of the beneficiaries governmental or civil.
removal risk either implementation , director of the Association of Iraqi private banks Ali Tariq has said that this issue is important and conveys dealings movement to advanced levels and is trading for many risks, especially as the recommendations prefer that wages and prices that meet not subject payment and collection to determine the absolute, but leaves it to banks, companies and providers of support service for them, because that is one of the most competitive conditions in accordance with the market economy Kan are trade - offs between service providers, as the central bank takes automate all transfers between ministries and institutions using the electronic payment orders.
systems banking comprehensive and pointed to the importance that the banks begin and contractors with payment service providers campaigns to promote and raise awareness of their services and to encourage citizens through extensive advertising and encouragement through incentives, bonuses and prizes with attention to customer service, pointing out that the recommendations focus on making government and the Ministry of Finance and the banks the necessary measures to own systems comprehensive banking by 2017 to keep pace with developments in electronic payment.
He continued , saying: As long as the service providers companies become subcontractors in banks and banks in turn linked in terms of Chirvih and the movement of money the central bank 's control, it is inevitable survival (currently National divider) under the Central Bank that established a specialized unit for this purpose to entrust the future competent company and solid management of this activity from outside the CBI.