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Innovations of modern payment systems and the effectiveness of monetary policy With particular reference to experience the Central Bank of Iraq | ||
| THE IRAQI MAGAZINE FOR ADMINISTRATIVE SCIENCES | ||
| Article 1, Volume 8, Issue 31, 2012, Pages 47-72 PDF (0 K) | ||
| Authors | ||
| sheren badre baroudy; thurayah alkhazraji | ||
| Abstract | ||
| That the spread of Settlement Systems of Electronic Payments brought about a fundamental change in the mechanism of settlement of payments &direct them towards electronic means of non-monetary means &systems used to transfer cash balances from one account to another &settle payments between banks in order to keep pace with global economic developments have been taken by monetary authorities representative of Iraq's Central Bank set of actions & measures which were based on a number of pillars of artistic &technical legislative to create the future trends towards the development of settlement system of payments of Iraq particularly since the Central Bank usually owns all the propulsion systems of high-value &determine the rules &principles that govern these systems, as well as the importance of their role in ensuring &providing the security &effectiveness payment systems of all kinds. The (Iraqi Payment System – I.P.S) which started the Iraq's Central Bank Its application & supervision of its implementation since (2004) an integrated system for the settlement of payments between Iraqi banks &works according to the best mechanisms & international standards & consistent with the requirements of the financial environment & the global banking modern-dependent information & communication technology in order to promote the Banking Sector of Iraq & risk reduction & prevention of movements is safe for cash flow & put it on a competitive basis from which to sustain its competitiveness & keep pace with changes the New Economy. | ||
| Keywords | ||
| Recent innovations Payment systems Effectiveness of monetary policy Central Bank of Iraq | ||
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