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To all banks and e-payment service providers Empty To all banks and e-payment service providers

Post by claud39 Tue Jun 16, 2020 11:41 am

[ltr]To all banks and e-payment service providers[/ltr]

June 16, 2020

To all banks and e-payment service providers News-159229885888356

[ltr]E-payment service providers' business controls[/ltr]
[ltr]Based on the eighth chapter of the electronic payment services system No. 3 for 2014, and based on the role of the Central Bank of Iraq supervisory and regulatory sector scoring and banking, below are the business controls and agents of the e-payment service providers.[/ltr]
[ltr]To download the work controls of e-payment service providers agents click here[/ltr]

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To all banks and e-payment service providers Empty Re: To all banks and e-payment service providers

Post by claud39 Tue Jun 16, 2020 12:32 pm

The Central Bank of Iraq
Payments Service
Controls for agents of e-payment services providers
May 2020 version

Considering the development and spread of electronic payment operations,
Based on the fact that this bank is the entity
The sector is independent and exclusively responsible for granting licenses to Dr.
Distributing and supervising electronic payment services
Issuing the following controls based on Article 4 / H of the Central Bank of Iraq Law No. 56 of 2004, and in a manner consistent with
International standards, and best practices to regulate the work of e-payment service providers with their agents throughout Iraq,
The nature of the agency granted to them. M
Sorted by
Chapter one
For the purposes of these controls, the following terms are intended to mean:
1- The Bank: The Central Bank of Iraq.
Licensed by the bank to provide electronic payment services.
 Kia J
2- Online Payment Services Provider: a
A warehouse is a service provider
3- Online payment services agent (major or minor): Person (natural / moral)
Electronic payment to work on his behalf and according to the nature of the activity specified in the contract between them.
Store the service provider
4 - Providing services for foreign agencies (major or secondary): Person (Al-Mankhi Al-Brakh)
No foreign consignments for the purpose of doing business with the Malikian consulate inside and outside Iraq.
He is the chief of Tarichus established and entrenched
Maintaining customer deposits.
5- The customer: the person who must be performed or commanded.
6 - Know your customer: Procedures) Know your customer, to take advantage of the customer’s identity according to
Chapter II
Or the: - Requirements for the agent
Payment services are required to carry out a preliminary and continuous evaluation of the person to be appointed as an agent, and underestimation is required.
Among its suitability for work is through the agent's due diligence policies and procedures as follows:
 Any person who seeks to be appointed as an agent by the payment service provider must provide the payment service provider
1 a
The following documents:
A - Name.
Pain done on term
B - Incorporation certificate, effective work permit, or permission for any legitimate business activity
(Eighteen months) at least before the date of the request.
C - Geographical location, postal address, phone number, and hours of operation.
D - Other
Payment service provider. Any information A may request
2 The payment service provider is required to:
A- The identity of the agent through the examination of his documents and documents mentioned in paragraph 1 above and to ensure safety
Issuing it from approved sources and excluding it in providing false or inaccurate information, and taking action
Appropriate right
B- The absence of negative indicators in the credit bureau and any security or judicial indicators taken against him.
C- The ability to efficiently handle and manage monetary financial movements and review records and matches for operations
The money executed through him.
D- The ability to maintain the security and protection of customers' data and information and their records, and to deal with
Their complaint.

E- The agent has a bank account.
And - any requirements
Provide appropriate. Others find it
The second one - the appointment of agents
1 The online payment service provider must regulate the relationship with its agents (major and secondary) under the contract of Akkhod.
Indicate the roles and responsibilities of each party, while ensuring that these contracts comply with these controls and any outgoing instructions
On behalf of the bank, so as to ensure that the supplier carries out appropriate supervisory procedures on activities that are compliant with compliance
View a copy of the draft contract formula that will be approved and whose disaggregated terms are on the bank
His approval before signing, so that he would not smoke without the need, etc.
Appointment of each agent, in compliance with the bank’s instructions, listing the names of agents in a special register for that purpose
 It can be updated monthly or when it occurs
A change, and send a copy to the bank.
2On the electronic payment services provider who seeks to hire others to provide electronic payment services, my throat is worse
Submit the data below for this bank:
A- The proposed number of agents in each governorate, according to the geographical area.
 B - Classify the agents according to the services that their monitors are registered with.
To be approved by the payment service provider. C- A description of the mechanism to control the work of the agent, d
D- Policies and procedures for agents, including:
 Policies and procedures for due diligence for the agent.
 Anti-money laundering and terrorist financing policies and procedures.
إدارة Risk management policies and procedures.
التشغيلية Operational and organizational policies and procedures.
القانونية Legal and punitive measures taken in the sense of violating agents.
Third: Types of Agents:
The nature of the services will be provided in Brain if the principal agent is
Secondary or secondary, and for success, the type of agent is determined according to the type of agent
The following:
1- Agent of card payment service provider:
 Whatever is issued by the agent, whether my boss is a- d
The service distributor is responsible to the bank for a
A secondary mother, Kha, in Micha
Concerning electronic payment services.
Kha for the license
Throw in accordance
B- The payment service provider must specify the services provided by the agent, fixed in the wings
Granted to him, as shown in the below:
 Customer registration.
 Selling prepaid cards to the issuer.
 Inquire about the balance.
 Issuing statements of small payments.
A instructions issued in this regard.
 Make In Cash for prepaid cards, according to
Market need, in coordination with the bank.
 Any other services that are specified by the provider, according to the
2- The agent of the mobile payment service provider:
In the case of the service, the service is the brain, the brain of the wicker is intoxicated, as if the service is responsible for the profits of the bank
A secondary mother in relation to electronic payment services.
B- The principal agent is permitted to conduct transfers of money to and from the governor's subordinate sub-governor's offices, according to Mujjab.
Agency contract.

C- Major agents are prohibited from conducting Umayyad transfers between them.
D- Secondary agents are prohibited from carrying out fraternal transmission operations in Brain to smoke them, with the exception of the affiliated secondary agents.
For one main agent and within the same province.
Kha for the license
E- The payment service provider must specify the services provided by the agent, fixed in the contract of the wali
Granted to him and as shown in below:
 Register agents and clients.
 Depositing cash in customer wallets and agents.
Cash out cash from customer wallets and agents.
 Inquire about the balance.
 Issuing statements of transfers.
Market need and in coordination with the bank.
أخرى Any other services determined by the provider
3- Agent of provider of foreign services:
1 The entities designated by this bank may act as principal or secondary agents.
 Anything issued by him or his secondary agent.
2 The principal agent is responsible to the bank for a
 Them to provide external remittance services on his behalf,
Whoever abandons
3 The main agent has a sense of appointing secondary or sub-agents
Distinguish foreign exchange service and approval from this bank. After obtaining the pre-approval of Dr.
4 The organization of Al-Aqkhah is stamped by Khokin, the principal and secondary agents, by Muqkud, which inflate the rights and predications of the Wakil
Secondary school, ensuring that it adopts anti-money laundering and terrorist financing policies.
 The approval of the service provider was sought
5 The secondary agent may perform financial transfer services unless he or she dies
a. Foreigner
Didn’t you miss him?
6 The principal agent shall provide the bank with all required information periodically, as per the following
Or upon request.
7 The principal agent guarantees his compliance with and the discipline of the two affiliated agents of his brother, Bakhanwan, and instructions for combating garbage.
Funding and terrorist financing, and any instructions or controls issued in this regard, or the relevant laws and apprehensions
Be cautious and cautious.
 A subordinate subordinate to him, or terminate his work upon failure of that proxy or incapacitated
8 senses the main agent to teach the work a
 In performance, or disorganization, the education and the education process are feared
Inhalation, inhalation, inoculation, inhalation, inhalation, or a
And controls issued in this regard, and informing the bank accordingly.
9 The secondary agent must keep a documentary notebook group separate from the company’s main activity and a storekeeper
In order for him to become secondary with his company's activities, the bank has a sense of auditing these records. He did not limit his activity as a
10 The main agent shall install programs and systems at the stations prepared by the service provider; To serve
The money transfer, and in each of the secondary agent's sites, so that ownership of those programs and the copy of Makhnakh remain
Exclusive foreign exchange service. Rights to dr
11 The master agent trains the secondary agent and his staff to provide money transfer services.
12 The secondary agent must maintain the confidentiality of customer personal information and not disclose it.
13 It is for the sub-agent to add any prices from what was decided with the supplier.
Fourth A- Agency contract:
 Relationship between the payment service provider and the agent - at least - the following provisions:
1 Includes contract contract
A- The type and nature of services to be assigned to the agent and the scope of his work.
B- The rights, responsibilities and obligations of both parties.

C- Procedures for limiting the risks associated with the services provided by the payment agent, including limits.
Customer transactions, cash management, cash protection, protection of agent locations and the procedures involved
Protect the deadest customers.
It is expressly stated that the bank has a sense of access to systems, documents, reports, records, staff
D- nn
The locations of the agent, and at a time he deems appropriate.
E- Requirements for combating money laundering and terrorist financing.
Explicitly includes that the information or data collected by the agent relate to the services provided
F- nn
It is the property of the payment service, or from other sources provided by the agent, whether from customers, d.
Distinguish service
paying off.
G- Sufficient oversight guarantees for the payment service provider to deal with cases of non-compliance by the agent with the stipulated obligations
on her.
H- The agent's working hours.
I- Commitment to the effective controls and instructions.
J - The agent maintains the appropriate liquidity to meet the needs of customers.
K - Technical description of electronic devices.
 - Install details
Agent fees.
Distorting payment service in% pw, the presence of an explicit statement stating that the agent must record the transactions executed by him with a record of
 A maximum.
The end of the next business day is a limit
N- Determine the mechanism by which the contract terms and conditions for its termination will be changed.
O- The mechanism used for the process of cash flow between the supplier and the agent.
A- The geographic location of the representative.
P- Specify a time period for the contract that can be renewed or canceled, with the agreement of both parties.
2 No other supplier may deem it necessary
Consolidate payment by adding the conditions A to the agent to provide his services after an examination
The approval of this bank.
3 The agent's employees must be treated as employees of the payment service provider, and that the rights and duties of such
Name people a
Agreed upon between the payment service provider and the agent.
Raw Sa- Termination of the agency contract
1 In addition to the termination provisions of the agency as defined in the contract, the service provider is not provided with the sense to terminate or cancel the agency contract
If the agent does the following:
A-Continuing to provide his services as a
A payment agent when the business ceases. The
Solve it or liquidate it before
B - Committing a crime that involves necessity, deception or any other financial violation, or it may be
Court, or otherwise.
C- Exposure to a financial loss or damage to the degree that (according to the opinion of the payment service provider makes it impossible for
The agent has to obtain his financial safety
D- In the event of the death of the sole proprietor or individual, or his loss of legal capacity.
E - In the event of transferring or sitting in his place without obtaining the prior written approval of the payment service provider.
 There is an item in these controls.
F- Violation of the agent: a
G-The agent does not provide the information requested by the payment service provider.
 The inspection report or investigative committees formed for this purpose.
H-The incompetence of the agent to carry out the work assigned to us
2 The payment service provider must ensure that the agent does not continue to provide his services as a payment agent in the event of termination of the contract
According to paragraph 1 above.
3 The payment service provider shall announce to the public in any manner or means it deems appropriate upon termination of the agency contract with
The termination notice must be published in the agent's work area and clearly to the public.
4Each party to the agency contract feels its termination if one of the parties commits a financial violation, felony, or
Misdemeanor misdemeanor

Sada Sa- Conditions of secrecy
1 The exclusive terms of service for the service provider and the agents are prohibited, as it is permissible for the agent to provide services for the services.
For more than one supplier, provided:
The service of the service is done in order to avoid the disgrace of A - that the cheek of the wicker has separate contracts to provide such an service
The agent has to work it out. View the activities that are permitted
B - The agent provides his services to the customer transparently.
C - The agent shall keep the information of each service provider separately.
2 The payment service provider who seeks to contract with a person who has been contracted with by the other payment service provider must
The payment service provider is required to provide his services, to assess the agent's ability to manage and handle various transactions.
The technological capacity and the adequacy of the agent's funds.
VII- Activities shown:
1 The agent is prohibited from the following:
A- Work or carry out an electronic transaction when there is a problem with the system.
Did not notice its completion.
B - Executing the transaction when a leak cannot be made
C- Imposition of any fees on his own, regarding the provision of services stipulated in the contract.
D- Executing the services provided to the customer in case the activities permitted by the agent are stopped or diminished, and the activities
Not installed in the agency contract.
E- Providing payment services for his own account without the provider knowing this.
F- Providing any services that are subject to the controls and instructions issued in this regard.
G- Deduction of commercial papers.
H- Providing cash advances and credits.
I- Providing brokerage services to buy and sell foreign currencies, unless authorized by this bank.
2 The payment service provider may specify in the contract other activities that the agent is prohibited from doing.
Chapter III
Distributors of payment or service: - Responsibilities d
 The act or omission of its agents or the external sources that were used for it
1 The payment service provider is responsible for a
By the agent in some activities, and this responsibility extends to their actions even if they are not included in the terms of the contract,
 As long as
Doing with the services of a payment agent.
2 Develop and update the agent's due diligence policies and procedures, as well as operational policies and procedures
And regulatory in line with the services it provides.
3 Ensure that all financial and technical procedures and obligations are settled and dues are paid in case of termination of the agency contract.
4 Ensure that the agent has a bank account to conduct the transfer of financial dues between the supplier and its agents.
5 Compliance with the policies, procedures and control measures, including the compliance procedures taken by the agent,
 Legal action against the payment service provider.
The bank may take these measures into account when taking it
6 The payment service provider is responsible for resolving disputes between the agent and the customers.
7 Publication of an updated list of primary and secondary agents, and the nature of the services provided on the website of the service provider
Payment is other
, And by means of a publication that is publicly available.
8 Notice to this bank immediately upon any changes to the information in the agent's list to update their records at the bank.
9 The payment service provider must notify the bank before moving or closing agent locations.
10 Ensuring that the agent provides the assigned duties to him, through the tools and systems, at the payment service provider.

1 Requiring its agents to clearly and explicitly announce the services provided, the fees collected, and what
In line with the instructions of this bank.
12 Ensuring that the agent does not start carrying out the work assigned to him before signing the agency contract, or performing any business
Online payment services outside the scope of the agency contract.
13 Provide the agent with the operational procedures that show the details of the assigned business.
14 Ensuring that agents are committed to implementing customer due diligence.
15 Develop a list of early warning signs and corrective actions; To ensure the agent's proactive management by a provider
Protect your customers' lives.
Payment service, hence
16 Provide agents with adequate training to enable them to perform adequately operations and provide agreed services, including
Training on customer-friendly knowledge, customer service, procedures to maintain data confidentiality for clients
And their records, money security, record keeping and financial education, dealing with tools and systems, dealing with complaints
Customers, detection procedures, and anti-money laundering and terrorist financing measures.
17 Provide the infrastructure (systems - networks - devices .... required to provide services to the payment agent).
Second A: - Risk management
The payment service distributor ensures that there is a framework for governance and risk management in line with the laws, Dr.
The instructions and controls issued by this bank to ensure the provision of payment agent services in full availability through:
A. Developing a risk management program for payment agent services, which reflects its service strategy and policies.
B- Follow up and manage risks.
C- Determine the proper handling of the payment agent related services department.
D- Determining the agent’s activity and the nature of the services provided by him, taking into account the effects of the risks.
Operating and liquidity of the agent.
E- Evaluating the credit status and solvency of the agent every three months to determine his activities in conjunction with this evaluation.
F-Determine and properly handle electronic payment management related to risks.
G- Correctly identify and mitigate technological risks in relation to information and data security in networks
H - Prepare a business continuity management plan to reduce interruptions in gaps and functions of agents.
I- Ensure that the agent payment services policies and procedures and other relevant information are published to all individuals
Participants in the process through contact channels.
J- Submit a report to the board of directors of the payment service provider regarding the work and efficiency of payment agent services, in a comprehensive manner
And my turn.
K-own systems and staff to adequately monitor and control the operations and services provided by his agents on the basis of
Third: - Due diligence of the customer
When performing due diligence of the customer, the agents must comply with all instructions issued by this bank and the laws
And anti-money laundering and terrorist financing requirements in force in Iraq, including reporting to a supplier
Payment service for all suspected activities

the fourth chapter
Or no: the bank's supervisory and supervisory powers
1 All electronic payment services and their suppliers and participants are subject to the supervision of the bank.
 A third party and their agents provide information
2 On the online payment service provider, participants, and a
The data and not carrying out any actions that affect the task of supervision, supervision and cooperation, or prevent them, according to what
It is necessary to complete the supervision and control mission of the bank.
3 Bank representatives may inspect the premises of the electronic payment service provider and its agents to monitor compliance with standards
And information systems control policies.
4 The bank directs the payment service provider to take measures or measures against, or on behalf of, the agent,
Take corrective actions resulting from the agent’s behavior, as the bank may deem appropriate.
Second A: Reporting requirements
1 Each payment service provider must keep reports of electronic payments made to each agent in the manner
 No lower
That it deems appropriate, including ensuring that this bank has access to it at the time it deems appropriate, provided that it includes a limit
The following information:
A - value, size and geographical distribution of operations or transactions.
B - in cases of defraudation, theft or robbery.
C - Customer complaints.
D- Corrective measures taken to address customer complaints.
 Any report or information requested by the bank.
Third: The annual report
The payment service is authorized to send to the bank a period that exceeds today (31 March of each year) a report that must be
Annually includes agents' names, total number and value of transfers, with a description of the services provided by each agent for the year
Chapter V
Or: protect customers
The payment service provider and its agents must take the necessary measures to inform customers of their rights and responsibilities as
The following:
1 Agents are required to issue receipts or representations of transactions carried out by them, and in order to provide service for the service provider.
Providing their agents with the equipment necessary for this purpose.
M or delivery of required documents to and from customers.
2 The agent shall bear responsibility for the infiltration
3 My traps are like a trap of a wicker, a successor of a brain, a lot more than a warehouse that supplies the servitude of the servitude, so they must surmise that the bottom of the plate
The customer is kept separately and separately
And that there is no mixing of data.
4 The customer should be informed of the need to maintain the confidentiality of the personal identification number (PIN) and the spoofed information
Others, and this information is not exchanged with other parties, including agents.
Second: Disclosure
The agent shall disclose to his customers and at his work site the following information:
1- The name and logo of the payment service provider that works for him.
2- A list of payment services provided by him.
If the electronic system is broken, it is not permitted for him to perform any transaction.
3- Written Notice to the effect:

Provided to be provided according to availability.
4- Written Notice: Payment services are dispersed
5- A list of applicable fees for each service, which is collected by the customer.
6- Show a copy of the official letter signed by the service provider, stating the approval of the agent by him
And authorized services for him.
Third: Transferring or closing agent sites
1 The agent must obtain the prior written approval of the payment service provider to move or sit down at his place of work.
2 The agent shall notify the payment service provider of his intention to transfer his workplace, or close it, for a period of less than thirty days.
A longer term, as may be negotiated in the contract.
3 The agent must inform customers of a period of less than (fourteen days), before moving or closing his place of work
The advertisement shall be in a prominent and visible place to the public, and the advertisement shall stipulate the date of transfer, or
Chapter six
 Or no: settlement of transactions
1 All transactions involving deposits, withdrawals, payments or transfers of cash from or to an account must
Be real-time, and in real time.
2Payment Service Providers must ensure that agents are able to conduct transactions in a timely manner,
And in real time.
The second: outsourcing
 A third party to provide services for its agents
1 The payment service provider may enter into a written contract with A.
Provided that the bank approves the contract form before approval.
2 A service level agreement agreement must be concluded between payment service providers and the third party.
3 The third party must perform the activities that are attributed to the services of the payment agent, unless he has signed an agreement
Separately with payment provider; To become a wakel as stipulated in these controls.


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