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Recovery of electronic banking, but need a law
14/08/2012 0:00
Vice President of the Association of private banks «morning»:
Baghdad Yasser incumbent
evidence suggests that the banking sector took the close of his performance in the ranks of international banks in terms of using modern technology and advanced banking systems, but the main obstacle that stand in the way its inception to contribute effectively in the programs real development are the laws and procedures sterile, which is the biggest challenge in his way.
This is made by the Vice President of the Association of private banks in Iraq, a banking expert Adnan Chalabi in an exclusive interview with »Sabah» at the time of preparing the banks to enter the system divided the national who is adopted by the Iraqi Central Bank instead of foreign companies that provide this service on a small scale in Iraq, where the system will achieve a quantum leap in the performance of banks if successful.
Chalabi also said that private banks have completed their projects on the transfer of modern technology where work has already started the new accounting system that uses the work electronic instead of manual labor and the known system of Banks where he became a client can transfer his money from one branch to another by Inter Prange any internal remittances is an electronic system converts the amounts internally and to the banks, according to the need of the customer and thus dispense with the citizen for withdrawals of the blocks of cash to walk his works.
He said there other banking services are the Iraqi banks by providing by Visa Card and Master Card and Bubi Cash a global services banks in their submission time ago but did not reach us, but now its uses are still limited, partly because of banking culture vulnerable to the customers.
According to Vice President of the Association and through his bank long a now runs the Bank of Baghdad one of the banks that received an assessment from the central bank and the price of its shares advanced in the Iraqi Stock Exchange that this work requires legislation legally to regulate banking transactions electronically to be covered by the rules and trade laws, pointing out there is no provision for electronic transactions and underlined the need for the Ministry of Commerce representative registrant companies and the Iraqi Central Bank propose a draft law to permit him to handle mail in order to preserve funds of clients and public funds from electronic piracy or misuse of the system.
And on the question of the means available to enable banks to exercise powers and to provide banking services varied sees Chalabi indispensability banks to deal with Altjarhaforeigh through activation of documentary credits in commercial transactions, pointing out that this activity is the case in all countries of the world and the content of this service is to the fact that any dealer importer opens a letter of credit according to the specific mechanisms are under the contract signed between the merchant and the processor are determined under which conditions of dependence between them and are buying by letter of credit The payments are made to the supplier by the terms of drawing through banks which is the way secure and honest and the mechanism agreed upon internationally.
and the trend towards the use of money electronically Chalabi also said that the infrastructure of this system depends on the companies operating out of Iraq in Amman, Beirut, and these companies to manage operations for money electronic , and hinted that the system divided the national adopted by the Central Bank through its established system Alnhenal switch socket special saved us having to rely on overseas companies and will contribute to reducing costs on the one hand and risks of dealing with companies, noting that regular meetings take place between banks and the Central Bank in this regard and in If the completion of the formation of this system will have Nhenal switch socket and an Iraqi national, we can by him feed and organization of work payments online by Visa card and Master card.
On the possibility of using the services of the company's global smart card in this regard is an Iraqi company between Chalabi that the smart card has several advantages in the field of payments e, but its activity declined in the pensions and social welfare but they can access this activity in the event of activation of complex services and can compete with other systems in the feed and the organization of electronic payments, similar to the visa card and Almastrcart and stop this activity on the capabilities of the company in the negotiation and presentation of its activity on the central bank and coordination with him in this particular.
and on the role of government banks in this activity, Chalabi said, there have been attempts, but slow, declaring the readiness of ASEAN to help speed up the implementation of these systems by opening training courses for workers and there is coordination in this area and we will work to accelerate.
said Vice President of the Association of Iraqi private banks at the end of the meeting, we find in the cooperation shown by government institutions these days is the way to achieve the required development and particularly approaches the Economic Committee in the Council of Ministers in its support for the private sector, including overcome obstacles and painted by a true partnership between the private and public sector not to mention the effort, good for the Central Bank of Iraq provided by the banking sector.
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