The Central Bank launches the electronic platform for letters of guarantee
The Central Bank launches the electronic platform for letters of guarantee
11/10/2020 9:13
Ayna News Baghdad
Within the framework of its reform measures and in keeping with the developments in the automation of the banking industry, this bank announces the “launch of the electronic platform for letters of guarantee in which the information of letters will be recorded by the authorized banks”, and this platform includes in its work the downloading of the letters’ data by the authorized banks through Access to it and with different and specific powers, provided that the bank is responsible for the accuracy and correctness of such data.
The beneficiaries of the two sectors (public and private) and after issuing the letter are required to adopt an electronic registration form obtained from the Central Bank, which this platform will issue including information on those letters and has various security marks such as the heat stamp and the (barcode) feature, without this bank incurring any financial commitment that results For the bank’s delay in paying the value of the letter.
This bank invites the parties benefiting from the letters of guarantee and located inside the capital Baghdad to obtain the information registration form by this bank, and the entities outside the capital Baghdad can obtain the information registration form from the branches of the Central Bank of Iraq (Basra, Mosul, Erbil) and according to the geographical area of each branch, The above mechanism will be actually implemented, starting (the 18th of October 2020).
alliraqnews.com
