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Iraqi Business Council: Electronic payment does not limit the rise of the dollar
PM:11:25:08/01/2024
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The head of the Iraqi National Business Council, Daoud Abdel Zayer, confirmed that electronic payment does not limit the rise of the dollar. Zayer said, in a televised interview broadcast by NRT Arabia,
“We are in favor of opening bank accounts for all employees and the private sector and enhancing their monthly salaries through their account numbers and
the Ministry of Finance is concerned with this matter, and
the employee has the choice to choose the method of payment and the bank.” He added,", and
opening bank accounts will reveal those who receive two or more salaries.
It will also eliminate corruption and not adopt electronic payment." Zayer continued,
"It is not possible to follow an untried method for monetary policy in Iraq, and
employees must be given the freedom to choose financial dealings and not be forced to follow a specific mechanism." He explained,
"The banking systems in Iraq are modest, unprofessional, and have problems.
We are not qualified to take the electronic payment step, and
it is necessary to address them first before taking these steps." Zayer stressed that
bank accounts must be subject to precise administrative controls and avoid randomness, and the
Central Bank must limit irresponsible decisions by banks, as
banks do not have the right to refrain from opening or canceling personal accounts for individuals. He added,
"Electronic payment has nothing to do with the currency auction or limiting the rise of the dollar, and
the currency is supposed to be secured for importers who have bank accounts."
Zayer described the economic link in the markets as missing and irregular, and
the step towards electronic payment requires preliminary steps that must be implemented to move forward with this mechanism.
https://www.nrttv.com/ar/detail3/21524
PM:11:25:08/01/2024
916 views
The head of the Iraqi National Business Council, Daoud Abdel Zayer, confirmed that electronic payment does not limit the rise of the dollar. Zayer said, in a televised interview broadcast by NRT Arabia,
“We are in favor of opening bank accounts for all employees and the private sector and enhancing their monthly salaries through their account numbers and
the Ministry of Finance is concerned with this matter, and
the employee has the choice to choose the method of payment and the bank.” He added,", and
opening bank accounts will reveal those who receive two or more salaries.
It will also eliminate corruption and not adopt electronic payment." Zayer continued,
"It is not possible to follow an untried method for monetary policy in Iraq, and
employees must be given the freedom to choose financial dealings and not be forced to follow a specific mechanism." He explained,
"The banking systems in Iraq are modest, unprofessional, and have problems.
We are not qualified to take the electronic payment step, and
it is necessary to address them first before taking these steps." Zayer stressed that
bank accounts must be subject to precise administrative controls and avoid randomness, and the
Central Bank must limit irresponsible decisions by banks, as
banks do not have the right to refrain from opening or canceling personal accounts for individuals. He added,
"Electronic payment has nothing to do with the currency auction or limiting the rise of the dollar, and
the currency is supposed to be secured for importers who have bank accounts."
Zayer described the economic link in the markets as missing and irregular, and
the step towards electronic payment requires preliminary steps that must be implemented to move forward with this mechanism.
https://www.nrttv.com/ar/detail3/21524
