“CBI Continues to Educate” – Fri. AM/PM KTFA Thoughts, News w/ Frank26 10-29-21

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KTFA

Clare » October 29th, 2021

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Expectations of the rule of law with a consensual government with an agreement between the coordination and the Sadrist bloc

AM 5:37:23 10/29/2021   Baghdad/The Obelisk:

A member of the State of Law coalition, Kati’ Al-Rikabi, suggested that a “consensual” government would be formed in view of the existing reality based on the election results

Al-Rikabi said in a statement, “It is not possible for a prime minister to be chosen to form the new government without the coordination framework agreement and the Sadrist bloc,” noting that “the current reality requires that there be a consensual government,” according to the Ruda network He added that “negotiations and meetings so far have not reached the stage of forming a government or choosing a prime minister,” explaining that “the ongoing meetings are preliminary to upcoming “.meetings that will take place after the announcement of the final election results

And he indicated that “all the agreements that are proposed between the one component or with the components among them are not counted, as these meetings have never risen to the level of “.negotiations, and everyone is waiting for the results and what they will lead in the end

He concluded his speech by saying: “If there is an interest and everyone speaks in the interest of Iraq, things must end in agreement, without forcing a certain party to another, and there must be an agreement on the level of the Kurds, Shiites and Sunnis.

An agreement no matter what and how   LINK

Source: Dinar Recaps


Frank26 » October 29th, 2021

“CBI CONTINUES TO EDUCATE”…….F26

Generalization of the credit card reader on cash transactions

Monday 25 October 2021  Baghdad: Mustafa Al-Hashemi

The Central Bank adopted new mechanisms in the payments system several years ago, but this system did not achieve the ambitions due to the existence of a financial gap between smart card holders, caused by the incomplete automation process, which led to the continued dependence of citizens on cash withdrawals with financial losses distributed among the owners of ports and exchanges.

The mechanism, which calls for adopting comprehensive solutions represented in circulating the credit card reader to all cash transactions, in a way that encourages dealing with electronic cash.

According to the Central Bank, one of the most important achievements in the payment systems in the Payments Department is the start of work to assess the readiness of the Iraqi payment system, in line with the international standards {PFMIs} of the World Bank to upgrade payment and settlement systems in the country, within the agreement with the World Bank, which deals with payment systems electronics in Iraq.

The achievements were also represented in reforming the mechanism for paying the salaries of employees of institutions and state departments by localizing their salaries to bank accounts, including allocations and benefits, to an electronic system, as well as enhancing the role of payment systems in financial inclusion through digital services provided by banks and electronic payment service providers.

An important dimension in the strategy of the Central Bank, automating work through the use of electronic payment tools and encouraging the use of financial and banking services provided by banks and electronic payment service providers.

The reality of automation and the citizen

The specialist in banking affairs, Adel Al-Nuaimi, stated that, “The smart card system is a global system in which countries work to limit the circulation of cash and encourage their citizens to deal with the electronic payments system in an integrated system, unlike what exists inside Iraq, as it is an imperfect process.”

Al-Naimi explained to “Al-Sabah” that “credit card readers” devices are only available at salary distribution outlets only, while the success of automation requires the dissemination of these devices to all shops, markets, filling stations and every party that deals with “cash”, which would reduce Financial losses, and tangible development on the ground, not just on paper.

interbank market

For his part, the banker, Taha Ammar, said: {The payment system in Iraq needs to review and standardize the ATM reading of all smart cards, not as is the case now that each bank has its own ATM}.

Ammar added to {Al-Sabah}: {The banking reality in the country needs to activate the interbank market to be a platform that establishes an organized electronic financial market that opens and facilitates the way for foreign investment in Iraq on the one hand, and to increase cooperation between banks and improve their ability to diversify financial services to their customers.

 On the other hand, attracting commercial and financial operations available in the market.    link

Source: Dinar Recaps

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