***** Finance is seeking to adopt the electronic system in banks

11/12/2013 12:00 AM

Real Estate Bank confirmed tighten control and audit
Baghdad, Sabah Ahmed Abed Rabbo

The Ministry of Finance on the adoption of electronic work in government banks , rather than manual in collaboration with the World Bank within the project of restructuring the banks , while the Land Bank confirmed that this process needs to control and audit electronic severe to prevent money laundering operations .

The agent said Finance Minister Fadel Abdul Nabi statement (morning) that the ministry is currently working on the adoption of the electronic system in the banking business , rather than manual in collaboration with the World Bank , within the project of restructuring the banks, adding that the system would connect Iraqi banks universality electronically.

He added that this system will be applied first to the Rafidain and Rasheed through the adoption of the banking system overall , pointing out that the ministry tasked managers of government banks visited international banks and access to electronic systems currently approved , noting that the Minister of Finance Agency Ali Shukri discussed with the representative of the World Bank during a meeting last ways to speed up the application of the electronic system in banks and the mechanics and controls stages of completion .

for his part , counting the Associate Director of the Real Estate Bank Khudair Abbas (morning) , the adoption of the electronic system in the work of banks, a step in the right direction as contributing to the recovery of banking and shortens the steps by facilitating payments Using the smart card and get rid of the instruments.

He stressed that this process needs to electronic monitoring and auditing to prevent money laundering and financing of terrorism from abroad , calling for this system includes all banks in the country.

In addition, the central bank signed a contract with international companies specialized monetary and financial domain to create a retail payment systems and the use of credit cards on mobile.

The bank said in a press statement that within the project to develop electronic systems that contribute to the activation of banking overall banking system , a contract was signed for the establishment and development of infrastructure for payment systems, retail with some global companies, noting that the contract will enter into force in 2014 next year.

He pointed out that it is one of the important projects related to the development of electronic payment transactions in the use of credit cards from inside and outside the country is reflected positively on the development of the banking system and elevate it to the ranks of advanced international regulations .


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