Iraq Seeks to Open Up the Prospect of Banking Cooperation on the Arab and International Levels
|August 13, 2014||Filled under Iraq Daily News|
Iraq Daily News -
Iraq seeks to open the horizons of cooperation banking on the Arab and international levels through the establishment of a banking relationship with them aimed at increasing the volume of transactions offshore banking by opening letters of credit and the issuance of letters of guarantee and the conduct of investment and remittances Aforeigh.ovi this context, said Director General of the Rafidain Bank in the name Kamal al-Hassani: that Bank seeks to achieve greater achievements in support of the national economy and keep pace with the world reached by the Advanced Systems in the banking business, has been adding the final touches to complete the project of activating the service MasterCard and coordination with the company’s global card Alzkih.bhsp morning newspaper
He explained that this project is one of the achievements of Finance in the area of cash credit and banking business in order to be able to Rafidain Bank to provide services to customers in line with the development taking place in the developed countries in the field of shopping from the market through the card direct 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 define Card MasterCard as a credit card containing a balance of financial and allows the holder to drag them at any time and anywhere he pleases, and the advantages of this service that departs holder for dealing amounts of cash (Cache) in addition to the possibility of their use in many areas of daily life.
He noted that the Rafidain Bank seeks to achieve pay the salaries of retirees living outside Iraq electronic card Maydmn them easier to use the card from any ATM return any offshore bank.
And the development of cadres working in the bank, said the Director-General that the administration of Rafidain Bank is seeking to raise the level of performance for all cadres have been agreed with the banks external to set up training courses for bank staff to be trained on the latest and reached banking technologies and global in its dealings banking and access to the latest developments.
He said al-Hassani said there future directions include the restructuring of the bank and rid the budget of the previous debt which was settled nearly 90 percent of which is made us visible to budget the bank has also developed a plan for expansion and openness to the world and presence through overseas branches Jdidh.ozkr that the bank branches in London was founded in 1952 and is thus the first Arab bank in Europe and has had a prominent role in the performance of the banking outside Iraq, in addition to being filled building excellence in the area (Leiden Hull Street), noting that in light of the settlement that was completed and the payment of the debt of the United Kingdom made senior management of the bank efforts to restore presence in this edifice where the license branch is still pending and is not canceled, in addition to the British side expressed its willingness to re-examine the branch to be a window for the exchange of the old modern trade and banking operations with Iraq.
He noted that the number of branches of the bank are currently 161 branches in Iraq, in addition to (7) branches abroad in which all of Cairo, Beirut, Abu Dhabi, Bahrain, Sana’a, Amman, Jabal Amman.
And established the Rafidain Bank under Law No. (33) for the year 1941 and started operations in 19/05/1941 paid up capital of (50) fifty thousand dinars, over the bank through several stages during his historic was first his presence as the first national bank practiced commercial banking among many banks foreign, and began the gradual expansion inside diameter then has gone through the integration of multiple began in 1964 included commercial banks that were operating in Iraq, where they were in 1974 consolidated with the Rafidain Bank, which became a commercial bank only in Iraq, where he continued working alone in the field of banking until 1988 which saw the establishment of a government bank is another Rasheed Bank, which began its branches of the Rafidain Bank, which moved its business to him.
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