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National Bank: The number of companies benefiting from the project support initiative reached 300 companies
 
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 Banks


Economy News - Baghdad

The Iraqi National Bank announced on Thursday that the number of companies benefiting from the initiative to support small and medium enterprises launched by the Central Bank of Iraq reached 300 companies. He pointed out that the spread of these electronic payment cards is still weak in the Iraqi market, pointing out that the Board of Directors recently decided to launch A plan to cover the next three years includes several strategic directions to improve the financial performance of the bank and its infrastructure.

"The bank adopted the initiative of the Central Bank to support small and medium enterprises in a serious and important, and we are one of the first banks to exploit this initiative," said the director of the Iraqi National Bank Ayman Abu al-Hill in a televised dialogue sponsored by the Association of Iraqi Private Banks.

The rest of the dialogue was as follows:

What is the nature of the work of the Iraqi National Bank?

- The Iraqi National Bank was established in 1995 and currently has a capital of 250 billion Iraqi dinars, which is the minimum required by the Central Bank of Iraq. Since its establishment, the bank has been developing in all aspects. , Dealing with various economic sectors.

How much does the NCB partner, Capital Bank of Jordan, own from the bank's capital?

- Capital Bank's share is 62% of the capital of the National Bank of Iraq. Through this partnership, the Bank has access to the world, with Capital Bank as its main correspondent, as well as technical, human and banking support to be provided through Capital Bank to the National Bank of Iraq.

To what extent has the partnership between the local and foreign banks increased the Iraqi economy?

- Each country seeks to attract foreign investment. The investment of Capital Bank in Iraq is one of the main forms of foreign investment in the Iraqi banking sector. The exchange of expertise is the most important factor in this partnership, such as banking expertise, banking infrastructure, electronic services and development courses.

What is the nature of the agreement signed between the Iraqi National Bank and the International Finance Corporation and what are their objectives and to what extent will improve the work of the bank?

- A partnership with IFC is very important. We have been working on this project for about a year. The agreement is a simplified representation of the Bank to the International Trade Finance Program. We are the only Iraqi bank. IFC guarantees or guarantees If the bank has been issued a documentary credit to one of the bank's customers for a European, American or Asian bank, the existence of the World Bank guarantee leads to the acceptance of our credit directly, and the name of this institution in the adoption or letter of guarantee issued by the bank Ahli Iraqi open to himWAP and many areas, especially the diversification of network correspondents, and without this institution, it is certain that the situation will be different.

What do you rely on after signing this agreement and what is the best use of it?

The objective of the agreement is mainly to serve the customers of the bank and enable the bank to open letters of credit to the customers of the bank smoothly and at a low cost, thus this agreement enables us to serve the customers of the bank in the fastest and easiest way, considering that the bank targets all segments and at the level of large companies, To the retail sector. The bank also provides a variety of services to meet the needs of our clients, and the Bank strives to develop and diversify customer services.

How effective are the electronic payment cards issued by the National Bank internally and externally?

- The spread of these cards is still weak in the Iraqi market, as the Iraqi citizen prefer to exchange currency manually, but we as a bank try to offer our services in general and link credit card services within the products to provide to customers, in addition to contributing to public awareness and education using electronic cards and benefits And its ability to operate inside and outside Iraq.

What are the contributions of the Iraqi National Bank in supporting small and medium enterprises within the initiative of the Central Bank?

- The Iraqi National Bank adopted the initiative of the Central Bank to support small and medium enterprises in a serious and important, and we are one of the first banks to exploit this initiative. The number of companies that benefited from this initiative through our bank reached 300 companies, considering that our bank targets various economic sectors, whether agricultural, commercial or industrial. The terms of obtaining this financing are relatively reasonable conditions, including the visit of a specialized team from the bank to the headquarters The company in order to ensure the existence of the project, as for the benefit is a mutual benefit means the benefit of the company and the bank. The bank has made profits through this initiative as being partially supported by the central bank.

What is the role of the National Bank of the project to settle salaries?

- The project of localization of salaries of the strategies of the Iraqi National Bank, and we entered this project since its inception and we have signed contracts with more than 20 ministries and companies affiliated to those ministries, and we now have 8000 salaries transferred to the Iraqi National Bank. In our opinion, this number is modest compared with the large number of Iraqi employees. Our plan for the next three years aims to double that figure.

What does the Iraqi Bank Ahli have plans to develop in the future?

- The Board of Directors of the Bank has recently decided to cover the next three years, which includes several strategic directions to improve the financial performance of the Bank, its infrastructure and human resources, and we hope to reach this strategy to cover all aspects and thus enable us to reach a better position in the future.

What is your view of the banking sector in Iraq and your assessment of it and to what extent there is competition between private banks?

- The banking sector is constantly evolving, and the central bank plays a very important role in this development through supporting private banks and providing many initiatives .. In general, I am optimistic about the future of the Iraqi economy. I call on the Central Bank to speed up activating the Deposit Guarantee and Excellence between effective banks and performing banks At least, because the presence of the weak bank affects the rest of the banks, in addition to the partnership between the private sector and the public and the government's confidence in private banks.


Views 18   Date Added 01/17/2019

 
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National Bank: The number of companies benefiting from the project support initiative reached 300 companies

 

 

http://economy-news.net/content.php?id=15115

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Economy News - Baghdad

 

The Iraqi National Bank announced on Thursday that the number of companies benefiting from the initiative to support small and medium enterprises launched by the Central Bank of Iraq reached 300 companies, while noting that the spread of these electronic payment cards is still weak in the Iraqi market, pointing out that the Board of Directors recently decided to launch A plan to cover the next three years includes several strategic directions to improve the financial performance of the bank and its infrastructure.

 

"The bank adopted the initiative of the Central Bank to support small and medium enterprises in a serious and important, and we are one of the first banks to exploit this initiative," said the director of the Iraqi National Bank Ayman Abu al-Hill in a televised dialogue sponsored by the Association of Iraqi Private Banks.

 

The rest of the dialogue was as follows:

 

What is the nature of the work of the Iraqi National Bank?

- The Iraqi National Bank was established in 1995 and currently has a capital of 250 billion Iraqi dinars, which is the minimum required by the Central Bank of Iraq. Since its establishment, the bank has been developing in all aspects. , Dealing with various economic sectors.

 

How much does the NCB partner, Capital Bank of Jordan, own from the bank's capital?

- Capital Bank's share is 62% of the capital of the National Bank of Iraq. Through this partnership, the Bank has access to the world, with Capital Bank as its main correspondent, as well as technical, human and banking support to be provided through Capital Bank to the National Bank of Iraq.

 

To what extent has the partnership between the local and foreign banks increased the Iraqi economy?

- Each country seeks to attract foreign investment. The investment of Capital Bank in Iraq is one of the main forms of foreign investment in the Iraqi banking sector. The exchange of expertise is the most important factor in this partnership, such as banking expertise, banking infrastructure, electronic services and development courses.

 

What is the nature of the agreement signed between the Iraqi National Bank and the International Finance Corporation and what are their objectives and to what extent will improve the work of the bank?

- A partnership with IFC is very important. We have been working on this project for about a year. The agreement is a simplified representation of the Bank to the International Trade Finance Program. We are the only Iraqi bank. IFC guarantees or guarantees If the bank has been issued a documentary credit to one of the bank's customers for a European, American or Asian bank, the existence of the World Bank guarantee leads to the acceptance of our credit directly, and the name of this institution in the adoption or letter of guarantee issued by the bank Ahli Iraqi open to himWAP and many areas, especially the diversification of network correspondents, and without this institution, it is certain that the situation will be different.

 

What do you rely on after signing this agreement and what is the best use of it?

The objective of the agreement is mainly to serve the customers of the bank and enable the bank to open letters of credit to the customers of the bank smoothly and at a low cost, thus this agreement enables us to serve the customers of the bank in the fastest and easiest way, considering that the bank targets all segments and at the level of large companies, To the retail sector. The bank also provides a variety of services to meet the needs of our clients, and the Bank strives to develop and diversify customer services.

 

How effective are the electronic payment cards issued by the National Bank internally and externally?

- The spread of these cards is still weak in the Iraqi market, as the Iraqi citizen prefer to exchange currency manually, but we as a bank try to offer our services in general and link credit card services within the products to provide to customers, in addition to contributing to public awareness and education using electronic cards and benefits And its ability to operate inside and outside Iraq.

 

What are the contributions of the Iraqi National Bank in supporting small and medium enterprises within the initiative of the Central Bank?

- The Iraqi National Bank adopted the initiative of the Central Bank to support small and medium enterprises in a serious and important, and we are one of the first banks to exploit this initiative. The number of companies that benefited from this initiative through our bank reached 300 companies, considering that our bank targets various economic sectors, whether agricultural, commercial or industrial. The terms of obtaining this financing are relatively reasonable conditions, including the visit of a specialized team from the bank to the headquarters The company in order to ensure the existence of the project, as for the benefit is a mutual benefit means the benefit of the company and the bank. The bank has made profits through this initiative as being partially supported by the central bank.

 

What is the role of the National Bank of the project to settle salaries?

- The project of localization of salaries of the strategies of the Iraqi National Bank, and we entered this project since its inception and we have signed contracts with more than 20 ministries and companies affiliated to those ministries, and we now have 8000 salaries transferred to the Iraqi National Bank. In our opinion, this number is modest compared with the large number of Iraqi employees. Our plan for the next three years aims to double that figure.

 

What does the Iraqi Bank Ahli have plans to develop in the future?

- The Board of Directors of the Bank has recently decided to cover the next three years, which includes several strategic directions to improve the financial performance of the Bank, its infrastructure and human resources, and we hope to reach this strategy to cover all aspects and thus enable us to reach a better position in the future.

 

What is your view of the banking sector in Iraq and your assessment of it and to what extent there is competition between private banks?

- The banking sector is constantly evolving, and the central bank plays a very important role in this development through supporting private banks and providing many initiatives .. In general, I am optimistic about the future of the Iraqi economy. I call on the Central Bank to speed up activating the Deposit Guarantee and Excellence between effective banks and performing banks At least, because the presence of the weak bank affects the rest of the banks, in addition to the partnership between the private sector and the public and the government's confidence in private banks.

 

Views 91   Date Added 17/01/2019

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7 hours ago, 6ly410 said:

awareness and education using electronic cards and benefits And its ability to operate inside and outside Iraq

 

7 hours ago, 6ly410 said:

The bank adopted the initiative of the Central Bank to support system" rel="">support small and medium enterprises in a serious and important, and we are one of the first banks to exploit this initiative,"

 

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09/19/2018

 

l-Hantal said in his speech during the workshop "one-trillion-dollar initiative to support small and medium enterprises" held in the city of Erbil and attended by "economy News", the reason for non-activation of the initiative at the time of launch due to the existence of a window selling the currency, which banks were making profits from it, "When the interest rate was set at 4% to lend to the market there was another source of profit, the window of the currency, but the recent profits ended is left to banks only lending ."

Edited by 6ly410
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3 minutes ago, navira said:

Hoping this is where the lower denoms will come out.... thus the reinstatement of the iqd

I believe it is bro....

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 Banks


Economy News _ Baghdad

Rasheed Bank announced on Wednesday that it will grant loans of up to 150 million dinars to owners of private schools. 

The bank's media office said in a statement received by Al-Iqtisad News that "Al-Rashid Bank decided to grant loans to owners of private schools in all governorates up to 150 million dinars at an interest rate of 8% for three years and a period of three months." 

He explained that "the loan is granted according to the needs of the owner of the private school and not more than 150 million dinars to provide the holdings of the school in terms of lease and the names of companies in the establishment and feasibility study and the pledge of the property to be mortgaged."


Views 10   Date Added 30/01/2019

 
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12:59
Last updated
01:08 PM
278
Watch
 
 
BAGHDAD / 

The central bank governor Ali Al-Alak said on Monday that the bank bought 20 trillion treasury bills to move the market. 

"The monetary policy occupies an important part of the economy and investment sector and the central bank participates to achieve it," Al-Aallak said during a dialogue session at the Rafidain Conference held in Baghdad and attended by Baghdad. "Monetary policy achieves economic stability. The stability of the exchange rate and the adequacy of reserves. Fundamental to the stability of the economy. "

He added that "the central bank has not only achieved the basic goals, but entered the economic growth, which is unconventional policy," noting that "through the unconventional approach we have bought 20 trillion of treasury transfers and the purpose of maintaining the economic situation and move the market." 

He pointed out that "the central bank has taken the initiative of unconventional, the initiative of lending agricultural, housing and industrial and launched financial allocations, which is important," as he can secure financial for any real project if the necessary conditions.
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1 hour ago, yota691 said:

"Monetary policy achieves economic stability. The stability of the exchange rate and the adequacy of reserves. Fundamental to the stability of the economy. "

Sounds like no increase of the exchange rate with this statement from Aallak ~

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1 hour ago, DWS112 said:

Sounds like no increase of the exchange rate with this statement from Aallak ~

I would like to believe..... The Central Bank needs a certain level economic stability with their exchange rate and perhaps even banking security ....Before than can safely lift the 3 Zeros. 

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15 minutes ago, blueskyline said:

lift the 3 Zeros

Yes, maybe this is the first step. After lifting the 3 zeros a period of stability and then go 1:1, (or higher)

Edited by DWS112
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Central Bank: We bought 20 trillion treasury transfers to move the market

 

Central Bank: We bought 20 trillion treasury transfers to move the market

February
Last updated
13:08 - 04 February 19
1342
Watch
 
 
BAGHDAD / 

The central bank governor Ali Al-Alak said on Monday that the bank bought 20 trillion treasury bills to move the market. 

"The monetary policy occupies an important part of the economy and investment sector and the central bank participates to achieve it," Al-Aallak said during a dialogue session at the Rafidain Conference held in Baghdad and attended by Baghdad. "Monetary policy achieves economic stability. The stability of the exchange rate and the adequacy of reserves. Fundamental to the stability of the economy. "

He added that "the central bank has not only achieved the basic goals, but entered the economic growth, which is unconventional policy," noting that "through the unconventional approach we have bought 20 trillion of treasury transfers and the purpose of maintaining the economic situation and move the market." 

He pointed out that "the central bank has taken the initiative of unconventional, the initiative of lending agricultural, housing and industrial and launched financial allocations, which is important," as he can secure financial for any real project if the necessary conditions.


https://www.alghadpress.com/news/اهم-اخبار-الاقتصاد-في-العراق-والعالم/190002/البنك-المركزي-قمنا-بشراء-20-تريليون-من-حوالات-الخز

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 Banks


Economy News / Baghdad ...

Al-Rasheed Bank issued a new directive Thursday to grant advances to employees, indicating that this includes card holders who have completed the settlement of their salaries.

The bank's information office said in a statement received by the economy news that Nakheel's payment was set at 10 million dinars or 5 million dinars according to the salary limit for each employee.

The statement added that the instructions included that the applicant for the advance should be an employee of the permanent owner and has a service for one year and interest (8%) for a period of (5) years to be paid in installments and benefits equal, "calling for those wishing to apply to review the nearest branch of his residence or department and fill out a form in that section Regardless of the existence or absence of an account for his department in that branch. "


Views 68   Date Added 07/02/2019

 
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Number of readings: 2550 06-02-2019 05:13 PM

06-02-2019 05:13 PM

The director of studies and operations in the bank Rashid Abdul-Muttalib Abdul Jalil said in a statement to (Tigris) that raising zeros reduces the cash mass and continued to take this decision needs to decide the top bodies and not the Central Iraqi Central 

Abdul Jalil explained false details covered by the media, including what Notes Al-Rasheed Bank 

said that the subject of the sponsor is not as it is customary, but he only signs the bill to deduct the interest during the first six months. 

He pointed out that the housing loans come in two forms, the first of which is the liberated areas T to contribute to the government were prescribed in the reconstruction of the liberated areas and distributed between the bank Rafidain and Rasheed Al - Anbar, Nineveh, Diyala, Salahuddin 

and noted that an advance of 30 million are exempt from the interest in the first five years and five second bear interest of seven percent

Kavsha said that the loans of employees depend on the amount of salary and range between 5-10 million dinars. Abdul Jalil added that the loans of small projects up to 50 million dinars at the highest level, 

stressing the cancellation of the mortgage and replaced by bail in the granting of loans and continued interest in the bank less than other banks or parallel have 

announced Abdul Jalil for features in the Rasheed Bank where he launched Master cadre palm to distract the employees ' salaries which is owned by the bank and not contracted with companies denied cutting the amount of 21 000 in exchange for payment of salaries is exaggerated and not true , but a free service to Htgaa people on the electronic card 

and added that salaries across the system Clearing Do not delay the electronic one day only if a technical glitch in the communications was found 

and pointed out that Abdul Jalil Rasheed Bank is directed towards an electronic comprehensive system that protects the customer 's international application number , stressing that the commission issuing MasterCard credit card at the Rasheed Bank only 10 thousand dinars

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1 hour ago, yota691 said:

The director of studies and operations in the bank Rashid Abdul-Muttalib Abdul Jalil said in a statement to (Tigris) that raising zeros reduces the cash mass and continued to take this decision needs to decide the top bodies and not the Central Iraqi Central 

 

:backflip:       :backflip:      :backflip:

 

YEAH, BABY!!!!!!!

 

Go Moola Nova!

:pirateship:

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2 hours ago, yota691 said:

raising zeros reduces the cash mass

Doesn't sound good. Reduces what we are holding?

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Translate google...

06-02-2019 05:13 PM


The director of studies and operations in the bank Rashid Abdul Muttalib Abdul Jalil said in a statement to (Tigris) that raising zeros reduces the monetary mass and continued that the adoption of this resolution needs to be the decision of higher bodies and not the Central Iraqi Bank 

The Abdul Jalil details misled by the media, including what remarks on the Rasheed Bank wondering who are those bodies that have been spotted 

He added that Al-Rasheed Bank offers banking facilities in the discount and overdraft, explaining that the subject of the sponsor is not as is customary, but he only signs the bill of interest for the first six months 

He pointed out that the housing loans come in two forms, first of which is the liberated areas, which the government required to contribute to the reconstruction of liberated areas and was distributed between the bank of Rashid and Rafidain Anbar, Ninewa, Diyala and Salahuddin 

He pointed out that the 30 million advance is exempted from interest in the first five and five years and bears a benefit of seven percent 

Kavsha said that the loans of employees depend on the amount of salary and range from 5-10 million dinars. Abdul Jalil added that the loans of small projects up to 50 million dinars maximum 

Stressing the cancellation of the mortgage and replaced by a bail in granting loans and continued interest in the bank is less than other banks or parallel to them 

Abdul Jalil announced the advantages in the Rasheed Bank, where he fired a master cadre of palm to pay the salaries of employees owned by the bank and not contracted with companies and denied the cut of 21 thousand for the payment of salaries exaggerated and not true, but a free service to encourage people on the electronic card 

He added that the payment of salaries through the system of electronic clearing does not delay one day, unless there is a technical defect in communications 

Abdul Jalil pointed out that the Rasheed Bank is heading towards the implementation of the comprehensive electronic system, which protects the customer with an international number, stressing that the commission issuing MasterCard card in the bank Rashid only 10 thousand dinars

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59 minutes ago, DWS112 said:

Doesn't sound good. Reduces what we are holding?

I took that to say as they seem to mention a lot "lift the zeros to get rid of the chunky money". 

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