Central Bank of Iraq Calls to Action Order Mail
|August 21, 2014||Filled under Central Bank of Iraq|
Central Bank of Iraq News –
Central Bank of Iraq could expand the business of banks and money transfer companies and mobile phone companies and the exercise of any of the activities of the electronic payment in the event of their desire for the introduction of e-payment of money No. 2 for the year 2014.
In this context, he said the academic economic Dr Majid Baidhani to call the bank for banks and companies come through the pursuit of the development of the payments system in Iraq, the adoption of modern technology in order to ensure service delivery quickly and the quality away from the routine and wasting time.
Said in a statement (morning) that the central bank has been for years on the development of plans and implementation in order to serve the process of transition to a market economy and freedom from the central system authoritarian who controlled all aspects of the economy in the country.
Said that the Central Bank of Iraq had announced earlier in readiness for the development of the banking business by announcing the project divided the national and invite foreign companies for the purpose of contracting with them and agree on its implementation.
Adding that the regulations advanced banking participation mobile phone companies will allow citizens to transfer money from their funds to any bank or branch or someone else provides time and cost and effort, along with reducing the security risks of trading currencies in large amounts when conducting commercial transactions.
Central bank had called wanting to banks and companies winning licenses it to expand the business of banks and money transfer companies and mobile phone companies and the exercise of any of the activities of the electronic payment in the event of their desire for the introduction of e-payment, stressing that they have to make formal requests for the exercise of this service requirement of commitment to the requirements of the system and provide all the archives.
And on companies that have an authorization from the bank and want to work as a provider service for electronic payment source said at the bank that he must obtain a license from the Directorate General of the banking and credit control of the central and Compliance, along with the importance to have the capital to pay service provider for $10 billion dinars, and re-examined after 3 years from the issuance of instructions.
Between The granting of the license fees amounting to 5 million dinars to pay once when granting the license as well as a letter of guarantee 15 percent of the capital renewed annually on the adjusted ratio in light of the budget of the company issued after the end of the fiscal year. The source confirmed that the applicant pay the wages of the study of the demand to participate in the project and pay retail divider and national reach 2.5 million Iraqi dinars are not refundable.
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