The College of Engineering at the University of Basrah organized a symposium on the localization of salaries. The seminar included clarification of the advantages and benefits of the settlement system. At the outset, the Director of the International Development Bank, Mr. Mahdi Al-Jazaery, mentioned that salary localization is the process of transferring the salaries of employees in the private or public sector from manual salaries received from their departments until they are received from Governmental and private banks and banks, through a special account that is opened for the employee in the bank, and he withdraws from it using an electronic card or receiving it in cash from the bank. Loans and advances, including marriage loans, car loans, furniture and travel, Al-Jazaery added that the MasterCard is printed from inside Iraq, where the issuance process takes 3-4 minutes, after which the employee can receive the salary from anywhere and any work that suits him because it is a global MasterCard, not a local one, and it is exported at a price 5,000 windows for a period of three years, he also added that any transaction through the Development Bank and any services are free of charge, including the salary withdrawal commission.
In addition to the presence of 36 ATMs in Basra that belong to the bank in most state departments and malls, the employee has complete freedom to withdraw, deposit and transfer money and is allowed to use the salary card for cash withdrawals or purchases, in addition to other benefits.
