***** The way to the application of the payments system and skip the challenges

7/24/2014 0:00

Baghdad Yasser incumbent



Seeks CBI to adopt advanced methods in banking systems and working to introduce a balanced pace of modern technology through the implementation of its infrastructure project and the goal of the payments system in Iraq.

Measures announced by the central recent special mechanization processes settlement instruments and payment orders between governmental institutions and banking electronically through a system of payments using a secure network and solid and effective will inevitably in the development of the financial sector in Iraq and reducing the phenomenon of carrying cash, according to experts, with the quest to reduce this phenomenon and his commitment to reduce the use of the (cash), it seeks to automate the settlement checks, salaries and activation of automation systems for the electronic card, in order to preserve more cash in bank accounts.

But the problem faced by this process lies in the speed of response of private banks and the reluctance of banks, public (government) to accept this important mechanisms which requires work in both sectors at the same time, the required permission restructure the banking system of government which took place efforts for the sake of it and cut service games but without feasibility, is possible to use the experience of private banks?

This gap disclose the issue is very important is that the actions of the Central bound for private banks with no obligation on the government banks considering that the responsibility dispersed between the central and Finance on the banks and this requires legislation ensures that bind the government measures the central or to the ministry in coordination with the Central compel it to any (government banks ) implementation.

Apart from this overlap and problems which caused delays in the banking sector to catch up with the global regimes (Necessity is the mother of invention) As the saying goes How common?

Caught my attention invitation economic researcher for the adoption of the smart card in the payment of salaries and wages among the beneficiaries in hot areas because of the conditions and events experienced by the country in which they pointed to the difficulty of transferring money across the country because of the events that take place in different parts of the country, and called for the speedy implementation of programs Order relating to electronic coordination between the central and Finance to ensure the safety of the arrival of salaries and wages to the beneficiaries, regardless of the security situation and the events that take place here or there and this scene highlights the importance of the adoption of modern mechanization in the performance of banks.



Problems faced by the banking sector are many and complex While the exposed banks to severe criticism and sometimes charges have no justification collide attempts to justify these challenges, not in defense of the banks, although he project to protect the country's economy because the money is state funds with the result and the citizens, in fact, but the right to say that conflicting and overlapping laws and powers that have contributed to the failure of the banking sector and delay.



Should based on banks viewed as an integrated unit governmental or private may not be a double standard err one required fortify the banking sector from falling into it and work to be harnessed to serve the construction and reconstruction and implementation of development programs, and this is the ultimate goal of survival.

Bottom line is that what is required of private banks of procedures and programs and modern technology, it is necessary to compel the government to live up performance by the bank to the ranks of developed nations.


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