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BLC TIM724 CHAT
[tlm724] I'd like to show you all this article from this morning its a lil long so bear with me k
Re: the Central Bank and to clarify the Gazette 10/07/2013 12:00 AM BAGHDAD - morning announced the CBI that the project divided the national will play a major role in the development and recovery of the economy in Iraq, where it will provide new business opportunities on the one hand and to attract foreign investors,
on the other hand. the bank said in a response about what was published by the morning in the number 2918 on 15/9 / 2013 in front Economic entitled (delay implementation of the project divided the national technical reasons) that he is working hard on the success of the project divided the national Everybody can from conducting financial transactions electronically easily and safely,
adding that he made considerable progress in this area and you have determined the technical requirements of the project.
[tlm724] The competition was a transparent manner with more international companies specialized in this field and select the winning company and the announcement of the signing of the contract during the month of September 2013 and the project implementation period of 18 months.
He said at the end of the month will keep you informed on the next step for this project. Between the mutual retail payment system in Iraq provides an opportunity for Iraqi banks access to tools integrated the most modern and sophisticated cash payments.
He sought the central bank to modernize and develop the financial and banking services in Iraq and to keep pace with international developments in this field have been the acquisition of the payments system of Iraq in 2006 and build a network linking Iraqi banks IIBN, linking this network all government and private banks in the country with the central bank.
Said project is of vital projects that assist in the development and revive the economy in addition to creating new jobs will be to attract foreign investors, where will be able to enterprises, individuals and all banks inside and outside Iraq to carry out transactions secure, transparent and reliability.
]tlm724] So I was curious as to what the IIBN was and let me show what I found. IIBN is the Iraqi Interbanking Network. The bidding for the contracts were issued July 3, 2006 and the deadline for bids was July 31, 2006.
[tlm724] This was presented as a joint venture so multiple company's would be awarded the contract at one time to work in conjunction with each other.
[tlm724] These company's are to provide Telecommunications equipment and supplies and also Data communications equipment for a banking network that would allow a modern payment system to use such network.
[tlm724] They got the money for this project from a grant from the World Bank Iraq Trust Fund. Here is the link to where I got this information http://www.dgmarket.com/tenders/np-notice.do~1303977
[tlm724] Here is a very telling quote from this tender "The Iraqi payment system which has already been developed and ready to be implemented using IIBN. Therefore, IIBN will be enabling the Iraqi banking community to settle all payments electronically and instantly (real time) with scalibility to offer avalibality for other interbanking communications"
[tlm724] So the system was already developed and ready for implementation back in 2006 all they needed were the means by which to bring it to fruition ie: the actual electronic system !
[tlm724] The CBI is saying in the above article that they signed the contract during the month of September 2013 and the project implementation period of 18 months.
[tlm724] Now don't let that 18 month timeframe freak you out lol. We know Microsoft went in a long time ago, we also know that Asia Cell, Zain and Western Union are on board, right ?
[tlm724] We are watching Iraq transform into an all electronic society and I ask you to consider this. If the tariffs were implemented tomorrow how would Iraq account for the money ?
They can't without this electronic system linking all trade, Banks, points of sales etc... IMO the CBI is well on it's way with this project and we are seeing prgress articles daily about the electronic system not only for Banking but for the national card project etc..
[tlm724] We learned a few days ago that the rehabilitation project of the offices of customs on the border's is completed .
[tlm724] IMO when we see them fully integrated electronically then we see NEW IRAQ in all it's glory ! We are on the door step !! The CBI said at the end of the month will keep you informed on the next step for this project. I think that may the launch, just sayin....
[EdwardK] QUESTION Do you fell we have to wait till aft the April 2014 Election for the RV/RI
[tlm724] EdwardK no one knows that !
[EdwardK] Gut feeling?
[tlm724] I just gave you it ^^^^^
[tlm724] k thats all i got
[tlm724] look if the launch this sytem fully then the rest will fall right in pplace !
[sisterbreen] tlm724 u excited
[tlm724] sisterbreen I am !!! yes
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interesting indeed.............. yet, while I was reading that, I had visions of me inserting a 5k dinar note into an ATM machine and out spits some dollars to go put down on a home kept swirling in my head!
I think I was just dreaming....
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