CBI announces its quest for the formation of the Iraqi Council of payments Posted: Ju
CBI announces its quest for the formation of the Iraqi Council of payments
Posted: June 24, 2012 : BAGHDAD / Center Brief for the Iraqi Media Network – Central Bank of Iraq on his quest for the formation of the Iraqi Council of payments, which sets the regulations and the regulatory and legal regulations for the operation of financial institutions.
The deputy governor of Bank of the appearance of Mohammed’s (Center Brief for the Iraqi Media Network) that “the completion of the establishment of all financial institutions will be the formation of the payments the Iraqi representing the control and put systems and regulations, regulatory, legal and aimed at protecting property rights and protection of human participants.”
The Deputy Governor of the Bank “enacted a law to this Council and in general assume the leadership of the Council of the central banks of payments on account institution supervisory and regulatory mission and our ambition is the creation of this Council.”
He revealed the CBI for a company made to him for the purpose of establishing the banking system, a telephone interview system supports transfer of funds from the financial balances of the telephone as is the case in the transfer of the balance of the mobile phone to someone else.
Iraq and deliberately in his dealings of Finance is currently in the conversion and drag on banks and banking companies and the Iraqi central bank is seeking to adopt a more sophisticated means of contributing to the reduction of manual trading of financial liquidity.
The central bank seeks to develop a system of payments the country’s economic and announced earlier in the high cash reserves of $ 50 billion to 60 billion dollars.
The main tasks of the Iraqi Central Bank to maintain price stability and the implementation of monetary policy, including exchange rate policies and management of reserves of foreign currency and regulate the banking sector