THE USES OF MODERN DIGITAL SYSTEMS IN THE DEVELOPMENT OF THE PERFORMANCE OF THE IRAQI FINANCIAL MARKETS

Abstract

Electronic money transfer operations are considered one of the most important means of scientific progress produced by recent developments in communication and information technology and the most widespread. These operations have become the first competitor to traditional means of fulfillment such as checks, for example, and have evolved to take multiple forms that are compatible with the nature of the current era and the requirements of customers of banks and institutions authorized to deal with money transfers. The electronic transfer of funds can be defined as one of the banking techniques that are used by the bank or institutions authorized to transfer money in order to move funds from one account to another by order of the customer to the bank that holds his account by making entries on the credit side of one of them and on the debit side of the other without requiring that these accounts be for two persons or be held by the same bank or institution authorized to transfer money , Thus, the work of electronic banking is the implementation of banking operations through the use of modern electronic means, as the bank can provide its services throughout the day and every hour, and from anywhere in the world through the Internet service with the aim of transforming into electronic banks that are similar to their counterparts from traditional banks in many respects, as they all participate in the division of service and financial product in addition to customers.