The Iraqi Central Bank discusses the plans of banks in preparation for linking it to a built platfor
Posted: Mon Jul 13, 2020 8:02 amThe Iraqi Central Bank discusses the plans of banks in preparation for linking it to a built platform
July 13, 2020 1:02 PM
Direct: The Iraqi Central Bank discussed, on Monday, the banks' business plans to ensure that they are easily linked to a multi-currency structure platform.
A statement by the bank stated that "the Central Bank of Iraq, in cooperation with the Arab Monetary Fund, organized a workshop for banks operating in Iraq to participate in the platform, this came after the announcement of the launch of a platform for Arab payments of the regional institution for clearing and settlement of Arab payments, which is managed by the Arab Monetary Fund and preparations are made for this The bank and a number of local banks to participate directly in the platform. "
The statement added that "the workshop discussed the proposed banks 'business plans and touched on the technical requirements and the steps required to ensure their easy connection to the platform and to know the extent of banks' readiness to do so."
The "Bani" platform represents a multi-currency payment platform that provides clearing and settlement services in Arab currencies and international currencies that meet the eligibility requirements, to clearing and settling inter-Arab financial transactions as well as financial transactions between Arab countries and the main trading partners of Arab countries.
It aims to enable financial and banking institutions in the Arab region, including central and commercial banks, to send and receive inter-payments in all parts of the Arab region and outside in a safe and reliable manner at an appropriate cost and high efficiency, in addition to that the Bani platform provides participants with modern payment solutions that are in line with standards and principles International and international compliance requirements.
And in the opportunities for economic and financial integration in the Arab region, it actively contributes to it to support investment links with the trading partners of the Arab countries on various continents.
The platform will be available to all banks that meet the criteria and conditions for participation in them, foremost among which are the standards and procedures for compliance aspects.
mubasher.info
July 13, 2020 1:02 PM
Direct: The Iraqi Central Bank discussed, on Monday, the banks' business plans to ensure that they are easily linked to a multi-currency structure platform.
A statement by the bank stated that "the Central Bank of Iraq, in cooperation with the Arab Monetary Fund, organized a workshop for banks operating in Iraq to participate in the platform, this came after the announcement of the launch of a platform for Arab payments of the regional institution for clearing and settlement of Arab payments, which is managed by the Arab Monetary Fund and preparations are made for this The bank and a number of local banks to participate directly in the platform. "
The statement added that "the workshop discussed the proposed banks 'business plans and touched on the technical requirements and the steps required to ensure their easy connection to the platform and to know the extent of banks' readiness to do so."
The "Bani" platform represents a multi-currency payment platform that provides clearing and settlement services in Arab currencies and international currencies that meet the eligibility requirements, to clearing and settling inter-Arab financial transactions as well as financial transactions between Arab countries and the main trading partners of Arab countries.
It aims to enable financial and banking institutions in the Arab region, including central and commercial banks, to send and receive inter-payments in all parts of the Arab region and outside in a safe and reliable manner at an appropriate cost and high efficiency, in addition to that the Bani platform provides participants with modern payment solutions that are in line with standards and principles International and international compliance requirements.
And in the opportunities for economic and financial integration in the Arab region, it actively contributes to it to support investment links with the trading partners of the Arab countries on various continents.
The platform will be available to all banks that meet the criteria and conditions for participation in them, foremost among which are the standards and procedures for compliance aspects.
mubasher.info