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View Full Version : Iraq seeks to open up banking cooperation at the Arab and international levels



BatmaninIraq
05-27-2016, 10:04 PM
Iraq seeks to open up banking cooperation at the Arab and international levels
by establishing a banking relationship with them aimed at increasing the volume of external banking transactions through the opening letters of credit
and the issuance of letters of guarantee and conducting investment operations and conversions
Alforeigh.ovi this context, general manager of the Rafidain Bank spokesman Kamal al-Hassani
said: bank seeks to achieve further supporting the national economy and keep pace with the
achievements reached by the developed world in the banking systems, he has been putting the
finishing touches to complete the project activate MasterCard service, in coordination with the
company's global card Alzkih.bhsp morning newspaper[/size]
He explained that this project is one of the financial achievements in the monetary and credit
banking field so that the Rafidain Bank to provide services to customers in line with the evolution
of the developed countries in the field of shopping at markets through direct card or the
Internet for the purpose of withdrawing the money, along with the use of devices ATM deposited
by this service.
And between Hassani he can be defined MasterCard card as a credit card containing
the financial balance
and allow the holder to drag them at any time, anywhere he pleases, and advantages of
this service that depart bearer
for dealing amounts of cash (Cache) in addition to the possibility of use in many areas of
daily life .
He noted that the Rafidain Bank seeks to achieve pay retirees residing salaries
outside Iraq the electronic card Maydmn them easier to use the card from any ATM
yield to any external
bank and the development of cadres working in the bank's general manager said the Rafidain
Bank is seeking to raise the level of performance of all cadres have been the agreement with
foreign banks to set up training courses for the staff of the bank to be trained on the
latest-the-art banking technologies in banking transactions and access to the latest developments
He said al-Hassani said there are future trends include the restructuring of the bank and
rid the budget of the previous debt which has settled nearly 90 percent of which has made
us visible to the budget of the bank also has developed a plan for expansion and openness
to the world and presence through external Jdidh.ozkr that the branches of the bank
branches in London was founded in 1952 and is the first Arab bank in Europe and has had
a prominent role in the banking performance outside Iraq, in addition to being filled
distinct building in the area (Leiden Hull Street), noting that in the light of settlements that
have been completed and the payment of the debt of the United Kingdom made top management
of the bank's efforts to restore presence in this edifice where the branch license is still pending
and is null and void, in addition to the British side expressed its willingness to re-examine
the section to be modern old window for the exchange of trade and
.banking operations with Iraq
He noted that the number of bank branches are currently 161 branches in Iraq in addition to the 7
overseas branches which both Cairo, Beirut, Abu Dhabi, Bahrain, Sana'a, Amman, Jabal Amman
Founded Rafidain Bank under Law No. (33) for the year 1941 and started operations on
05/19/1941
with a paid up capital of $ (50) fifty thousand dinars, over the bank 's several stages during
his historic career consisted primarily his presence as the first national bank practiced
banking business among several banks foreign, and began the gradual expansion within
the country , and has gone through multiple merging began in 1964 ,commercial banks
that were operating in Iraq , where they were in 1974 ,consolidated with the Bank of Iraq
, which the commercial Bank became the only
one in Iraq, which included
continued working alone in the banking field until 1988 which saw the establishment of
another government bank is the Rasheed Bank , who began his work with branches of the
Rafidain Bank , which moved its business to him