|
Search the Community
Showing results for tags 'guarantee depositors money'.
Found 1 result
-
Rafidain Bank wins membership of the Iraqi Deposit Guarantee Company Release date:: 2019/12/31 12:31 • 99 read times BAGHDAD: Al-Rafidain Bank announced on Tuesday that it won membership of the board of directors of the Iraqi Deposit Guarantee Company along with other banks in elections held at the headquarters of the Association of Private Banks. The bank said in a statement received (Euphrates News) a copy, that "the bank won the membership of the Iraqi company to ensure deposits, a joint-stock company with a capital of 100 billion dinars in the presence of the Central Bank of Iraq and banks and financial institutions." He added that "the number of shares of the company distributed between 25% of government banks and 30% were distributed between commercial banks and foreign branches and the National Pension Authority, while 45% of the shares were offered for public subscription." He pointed out that "this company is one of the most important companies established at the moment because it aims to protect depositors and preserve their rights and restore confidence to the banking sector and encourage savings and public awareness of the system of guaranteeing deposits inside Iraq and manage the process of compensating depositors efficiently and effectively."
