Central uses the electronic payment system
Central uses the electronic payment system for the settlement of the instruments between governmental institutions and banking
Thursday July 10, 2014 14:56
Alsumaria News / Baghdad
Central Bank of Iraq, on Thursday, for the use of the payments system for the settlement of the instruments between governmental institutions and banking, adding that the system would ensure the safety and efficiency of payment systems and clearing. , the bank said in a statement received “Alsumaria News” a copy of it, he was ” to develop the financial and banking sector in Iraq and reducing the phenomenon of pregnancy and money circulation, has been taking a number of measures in the automation of processes settlement instruments and payment orders between governmental institutions and banks electronically through the payments system of Iraq, which uses a network safe and effective. ” the bank said, “the system will easy operation and management of the accounts of the settlement between the participants from which to ensure the safety and efficiency of payment systems and clearing. ” the Bank noted that “the Ministry of Finance has adopted this system in obtaining dues from various institutions instead of instruments,” pointing out that “it is considered a key step in the way of mechanization overall per financial transactions and means of performing the obligations in Iraq. ” It is noteworthy that the Iraqi banks have not kept pace with developments in the work of international banks, and has been linked through the use of telephones and fax machines, and did not enter the Internet, but after 2004, and sought the central bank to develop banks associated with it through the introduction of new technologies and linking banks globally automatically, to facilitate the transmission of funds to and from Iraq.