CBI seeks the application of electronic payment systems in the banking sector

Posted: August 25, 2013 in Iraqi Dinar/Politics
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 Baghdad / Qais chopsticks revealed the CBI about his quest for the application of electronic payment systems that contribute to the development of the banking sector through the clearing system instruments, electronic.

central bank said in a statement received “long” version of it, that the application of these systems is designed to reduce the use of ( cash) in the country where, because the business environment is characterized by fast transactions and keep abreast of developments, especially in the field of banking transactions in general and the areas of the use of modern payment in particular.

The statement added that regulations adopted central bank implementation is the clearing system instruments, electronic which can banks to exchange orders Payment of low value and instruments encoded with each other electronically and locations where the co-Most private banks and their branches in the system and the number of participants (40) banks in addition to the Rafidain and Rasheed.

continued: since 2004, sought the bank to the application of electronic payment systems because of the challenge geographical and security issues has made ​​the process of transferring money across the country is difficult and reserved risks and therefore tend endeavors to complete the settlement processes of checks and salaries and activate the automated systems of the card electronic.

between the statement, that the care of the central bank to complete the transition to electronic clearing aims to reduce the period of clearing hand beyond sometimes month and through the application of these systems will create a creative banking environment and a safe is available to customers with the tools and banking motivated the economy and the financial transactions of all sizes and this is what we accomplished quickly.

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