Member of Finance Committee: Application system (electronic clearing) will accelerate the work of banks

18-06-2012 | (Voice of Iraq) -
Baghdad (news)

Member of Finance Committee noted the National Alliance MP Abdul-Hussein al-Yasiri, the need to work the system (electronic clearing) in all Iraqi banks to develop and promote their betterment.

Yasiri said (of the Agency news) said on Monday: The majority of Iraqi banks in both its public and private sectors lack the modern electronic systems used in all international banks that facilitate banking work and accomplish during the period of time less.

And: that many international banks use electronic clearing system or the so-called e-Traction, a modern banking system that facilitates the conversion of external funds, as well as completion of transactions mathematical instruments as soon as possible.

He pointed to: that banking transactions, whether in Iraq delayed the work of foreign exchange or a personal account because of the absence of mechanisms operate sophisticated electronic banking.

He added that the central bank is not responsible for the development of the work of banks, but banks should move to develop its work, pointing out that the work of the central mechanisms and controls to monitor the work of the banks.

The central bank decided to cover (32) banks, government and waged, the application of electronic clearing within the project of development of banking transactions, depending clearing system electronic instruments smart to allow a common knowledge of his account in more than a bank and is also shown in the Central Bank, and Iraq has begun to apply in November of last year , with six banks included in the implementation of civil banking transactions according to the electronic clearing system.

It should be noted that the devices used in the clearing system E is a terminal consists of a computer and scanner linked to the network bank and the rules of the central data in addition to linking banks' branches chair and connecting the presidencies of the server to reduce the cost and ease of system administration and technical support and the time the banks to their core functions.

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