(1)Iraq National Payment System – RTGS, AC, cheque processing system, securities depository and settlement system, secondary market trading system.
Monetics managed the initial implementation in 2005-8 and is now managing the implementation of the next generation of payment systems for the Central Bank of Iraq.
Monetics team: 8 consultants: Staged in Dubai, Istanbul and on the ground, Baghdad.Monetics role (initial):
- Functional design and requirements analysis for all systems
- Design of government securities trading system
- Technical advice on inter-bank networking and security
- Business expert advice on organization, system management, pricing
- Documentation and training for client staff
- Project management and technical implementation in Iraq
- Monetics role (ongoing):
- Ongoing management of maintenance and support and
- Project Management of installation of new versions of payment system applications
- Provision of on-site engineers for system support
- Design and support for secure disaster recovery system
Subcontractor to Montran Corporation, sponsored by US Treasury for initial implementation
(2)Iraq Financial Development Project – planning new regulatory regime; strategy, design and tender for card and mobile payment systems.
Monetics team: 6 consultantsMonetics role:
- Proposals for governance regime including National Payments Council.
- Drafting of new laws and regulations and amendments to existing laws.
- Strategy and architectural design for National Switch for card transactions.
- Strategy and architectural design for interoperable mobile payment system.
- Preparations of requirements and tender documents for retail systems
- Assistance with tender and evaluation process, training and planning
Subcontractor to AECOM, sponsored by USAID