GOLDILOCKS
Dee, Freedom Fighter, and I spoke by way of a phone conference to our CBI Contact in Iraq.
He talked about how his people are moving towards digital banking starting next month utilizing debit cards, credit cards, and point of sale.
Through the use of a smartphone technology, the Iraqi people will be utilizing an electronic wallet that enables them to do International exchanging of currency across borders through Western Union, MoneyGram, and Visa.
Oliver Wyman International managing company has been helping Iraq's people understand the process of digital transactions. The move to retail inclusion has helped their ability to move toward an independent use of their money allowing them to move away from the electronic platform (overseen by the US) in Iraq as well as ending their currency auction window by the end of this year.
This allows Iraq to become a correspondent bank or Direct to Direct Banking International trading system going forward.
Iraq started Phase 2 of integrating their ports and borders with the ASYCUDA system last month, and they are still implementing ASYCUDA throughout Iraq. Almost all ports will be connected.
This will enable Iraq to interface their currency rates with ASYCUDA from their concluding recommendations of the WTO.
"The Automated System for Customs Data (ASYCUDA) is a computerized customs management system that covers most foreign trade procedures. It handles manifests and customs declarations, along with accounting, transit and suspense procedures. It also generates trade data that can be used for statistical economic analysis. The ASYCUDA software is developed by UNCTAD.
ASYCUDA uses international codes and standards developed by the ISO (International Organization for Standardization), WCO (World Customs Organization) and United Nations. It can be configured to suit the national characteristics of individual customs regimes, national tariffs and legislation. ASYCUDA provides Electronic Data Interchange (EDI) between traders and customs using prevailing standards, such as XML."
👆 In this last paragraph, these are the ISO (INTERNATIONAL ORGANIZATION FOR STANDARDIZATION) currency codes ie. IQD, VND, USD etc. we spoke of a month or two ago that will be interfaced into the new QFS.
© Goldilocks
https://asycuda.org/en/about/
No comments:
Post a Comment