10 ministries to localize their employees ' salaries

03-05-2017 08:03 PM

Financial advisor to the Prime Minister, to draft resettlement of State employees ' salaries going according to plan and coordinate with the Central Bank, stressing that the aim of the draft settlement of payroll payments system efficiency.

The CBI revealed, on request from 10 ministries to localize their employees ' salaries, adding that specific banks were selected to participate in this project.

While private banks Association said that the participation of private banks in the State employees ' salaries would be localization project challenge for her.

Financial advisor to Prime Minister Mohamed Saleh appearance of "Il Giornale" newspaper "the Cabinet adopted a plan for six months to pay the salaries of State employees by electronic means and gradually over the coming years", stating that "the objective of the project is to raise the salary domiciliation efficient system of government payments and make it work in the digital age and adjust public expenditure and financial management governance."

"The draft settlement of payroll runs regularly and the CBI has been mandated by the regulatory and supervisory regulations concerning payroll system with electronic payment instruments", noting that "every beginning is facing some obstacles, but things are going well and according to plan in coordination with the World Bank experts.

The Executive Director of the Association of private banks, to Gibraltar, that the participation of private banks with State employees ' salaries would be localization project challenge for her.

Tariq said that "State employees salaries localization project recommended by the Council of Ministers, the Central Bank began, minute paced in cooperation with the Association of private banks and also banks.

The localization of salaries is the boundary between the banks and the employee, so will take clear and banks will help the employee to receive his salary, "given that there are banks ready to enter into a settlement of salaries."

Tarak stressed that help the Central Bank determines the Bank's participation in resettlement so banks abide by the Iraqi Central Bank parameters.

The Director of the Iraqi Central Bank payments service gave Abdul Karim, "the Cabinet demanded resettlement staff salaries at the recommendation of the Central Bank", stating that "the salary domiciliation project intended to distribute the salaries of State employees by electronic card.

She added that "the draft settlement of State employees salaries has positive effects as it will reduce the financial losses of the ministries as well as keep salaries from theft and loss, not to mention speed up the distribution of salaries and not to delay, and organized.

Krim emphasized that the Central Bank chose a number of Government and private banks to the resettlement project, "stating that" the selection process was in accordance with the standards developed by the Central Bank for banks ", given that" banner Bank did not distinguish between a Government or civil bank draft and leave it to the ministries in choosing which bank you find appropriate selected banks and each bank privileges. "

Rafidain Bank issued the clarification on relocation salaries and unique financial services waiting staff in Iraq, and how they are benefiting financially, noting that the installation, the process of converting staff salaries in the private or public sector salaries handy received from their constituencies to be received from the banks and State banks or civil war through a special account opened in the bank employee and dragging him by the electronic payment card or receive cash from the Bank.

On the benefit of using the localization system, this system began to spread in many countries of the world with business expansion and banking services with the growing volume of electronic transactions as a result of these banks and banks sought to reduce the time, effort and cost in their dealings and dealings of various financial and leave citizens deal with cash and risk.

"Mesopotamia, to localize system salaries enjoyed several advantages and financial benefits many service employees such benefits vary between a Bank and another, reviewing some of the resettlement will reduce the risk of transmission of the employee money in cash, and will give each employee carries a special card for salary compensation can withdraw his salary from the different points of sale (cashier/POS/Internet/) locally and globally, and the employee complete freedom in b and deposit, remittance and discretion and at any time, and the employee may not be any fees for opening an account, and may exempt Employee salary of regular monthly commissions for the employee (such as low balance fee/account manager), and the employee meets the nominal sum for some financial services such as service transformation and payroll card (this will be subject to agreement with a salary), and may allow the employee to use the salary card to withdraw cash or purchases, and may enjoy free electronic banking services employee without benefits, and localize the salary the employee will provide a package of banking products and services and facilities, and helps the employee to automatic saving and withdraw his need.