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Details of the coordination meeting between the Central Bank and the Rafidain Bank


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Details of the coordination meeting between the Central Bank and the Rafidain Bank

central bank
 
 

 

Rafidain Bank participated in the coordination meeting held by the Central Bank of Iraq - Mosul branch in the presence of officials and specialists in the financial and banking affairs and electronic payment companies to discuss the joint work plan in preparation for the activities of the Arab Day for financial inclusion.

The media office of the bank said in a statement, “The meeting addressed the steps that will be implemented during participation on the day of financial inclusion, which will be from 25-30 / 2020/4 and with the participation of banks in the country and the accompanying this important event of holding conferences, seminars and workshops to promote the concept of inclusion The financial and offering services and products provided by banks to their customers. ”

The statement added that "the attendees praised the efforts of the Rafidain Bank in settling the salaries of state employees and what it provides through the MasterCard credit card, loans and other benefits via the electronic card."

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https://www.thebaghdadpost.com/ar/Story/188928/%D8%AA%D9%81%D8%A7%D8%B5%D9%8A%D9%84-%D8%A7%D9%84%D8%A7%D8%AC%D8%AA%D9%85%D8%A7%D8%B9-%D8%A7%D9%84%D8%AA%D9%86%D8%B3%D9%8A%D9%82%D9%8A-%D8%A8%D9%8A%D9%86-%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-%D9%88%D9%85%D8%B5%D8%B1%D9%81-%D8%A7%D9%84%D8%B1%D8%A7%D9%81%D8%AF%D9%8A%D9%86

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Rafidain Bank goes on to retrieve the amounts by the
delayers who declined to pay

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18th February, 2020
 
 
The Rafidain Bank confirmed that it would continue to recover its funds from the delayers, who refrained from paying their amounts of late monthly payments or installments due to the loans taken from the bank.


The bank's media office said in a statement, "The bank continues to follow its money from its reluctant clients who refuse to pay it according to the legal conditions and procedures."

He pointed out that "a steady follow-up to this issue has contributed to the recovery of more than 16 billion dinars in 2019 and the bank has taken all legal methods against those who failed to pay the bank's money."

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https://cbi.iq/news/view/1427

Confirmation of closing of the accounts of the merging
brokerage firms opened with the approved banks

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18th February, 2020

To / All Approved Banks ( Account Closure )

We confirm what was stated in our numbered number (9/5/333) dated 5/8/2019 and
the attached requirements for granting the license to merging exchange companies for
the two categories (A, B), paragraph (9) of it, including ( closing all accounts of
brokerage firms buying and selling merged foreign currencies). Open at authorized banks
with the exception of ( parent company ) accounts.

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The central bank determines the percentage of fees charged to banks
 

18th February, 2020

 

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The Central Bank of Iraq, on Tuesday, directed banks and financial institutions to commit to meeting the commissions prescribed by its transactions

The bank said in a statement received by "Eye of Iraq News", that "all banks and financial institutions have an obligation to fulfill the commissions previously determined by their transactions, which are as follows

1- Purchase commission through points of sale: free of charge

2- Cash withdrawal commission through points of sale (0.006 of the amount) a minimum (2,000 Iraqi dinars), or 6,000 dinars per 1 million Iraqi dinars, and if the amount of 333,000 dinars is withdrawn or less, then the lowest commission applies and amounts to (2,000 Iraqi dinars)

3- Cash withdrawal commission through the ATM: (0.004 of the withdrawn amount) The lowest commission (1,000 Iraqi dinars), i.e. 4,000 Iraqi dinars per 1 million dinars, and in the event of withdrawing an amount of 250,000 Iraqi dinars or less applied The lowest commission is (1,000 Iraqi dinars)

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The central directs banks and institutions to commit to collecting the prescribed commission


18th February, 2020

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Central: The annual report of foreign reserves shows a
positive performance in 2019


19160.jpg

 

19th February, 2020
 

The data of the annual report of the Central Bank of Iraq, on foreign reserves, showed a positive performance in 2019 compared to 2018

"A copy of it," the central bank said in a statement, received by Economy News, "that foreign reserves grew by 5.52% in 2019 compared to 2018, as a result of the increase in the bank's purchases of US dollars from the Ministry of Finance compared to its sales through the currency sale window, as well as Profits realized from the returns of the investment portfolio in its various segments

The statement added, "On the level of investment portfolios, the value of this portfolio achieved net growth in 2019 by 18.4% compared to 2018, accompanied by a growth in returns on these portfolios in 2019 by 59% compared to 2018

And he explained that "the gold segment has grown in 2019 by 18.8% compared to 2018," noting that although the bank's investment in this asset has not increased during this year, the increase in the value of these holdings came as a result of the significant increase witnessed by the price of gold globally

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6 hours ago, DinarThug said:

Central: The annual report of foreign reserves shows a
positive performance in 2019


19160.jpg

 

19th February, 2020
 

The data of the annual report of the Central Bank of Iraq, on foreign reserves, showed a positive performance in 2019 compared to 2018

"A copy of it," the central bank said in a statement, received by Economy News, "that foreign reserves grew by 5.52% in 2019 compared to 2018, as a result of the increase in the bank's purchases of US dollars from the Ministry of Finance compared to its sales through the currency sale window, as well as Profits realized from the returns of the investment portfolio in its various segments

The statement added, "On the level of investment portfolios, the value of this portfolio achieved net growth in 2019 by 18.4% compared to 2018, accompanied by a growth in returns on these portfolios in 2019 by 59% compared to 2018

And he explained that "the gold segment has grown in 2019 by 18.8% compared to 2018," noting that although the bank's investment in this asset has not increased during this year, the increase in the value of these holdings came as a result of the significant increase witnessed by the price of gold globally

 


Central Bank: High hard currency reserves .. and reveals details

 

 

 Time: 02/19/2020 23:31:14

 

 

Central Bank: High hard currency reserves .. and reveals details

  
{Baghdad: Al Furat News} The Central Bank of Iraq revealed a rise in the country's reserves of hard currency during the past year by more than 5 percent compared to 2018.

An official source at the Central Bank said in a press statement that "the data of the annual report of foreign reserves showed a positive performance in the past year compared to 2018, as these reserves grew by 5.52 percent as a result of an increase in the Central Bank purchases of the US dollar, compared to its sales through the currency sale window As well as the profits accrued from the returns of the investment portfolio in its various segments.

He added, "At the level of investment portfolios, their values achieved net growth in the past year of 18.4 percent compared to 2018, accompanied by a growth of returns on these portfolios in the past year by 59 percent compared to 2018.

The source added that "the gold slices also grew in the year 2019 by 18.8 percent compared to the year 2018, as despite the increase in the bank's investment in gold, there is an increase in the value of these holdings as a result of the significant increase in the price of gold globally."

Iraq is ranked 38th in the world with its possession of gold, and 5th in the Arab world, for a total of 96.3 tons.

The source pointed out that this comes within the central bank's plan to enhance the returns of reserves and build capacity in the field of reserves management by establishing several international banking relationships and entering into agreements and memoranda of understanding with a number of international banks and major financial institutionssuch as the International Bank for Reconstruction and Development and the Arab Monetary Fund as well as international institutions Concerned with investment management.

Ammar Al-Masoudi 
finished

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Edited by DinarThug
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12 hours ago, DinarThug said:

Central: The annual report of foreign reserves shows a
positive performance in 2019


19160.jpg

 

19th February, 2020
 

The data of the annual report of the Central Bank of Iraq, on foreign reserves, showed a positive performance in 2019 compared to 2018

"A copy of it," the central bank said in a statement, received by Economy News, "that foreign reserves grew by 5.52% in 2019 compared to 2018, as a result of the increase in the bank's purchases of US dollars from the Ministry of Finance compared to its sales through the currency sale window, as well as Profits realized from the returns of the investment portfolio in its various segments

The statement added, "On the level of investment portfolios, the value of this portfolio achieved net growth in 2019 by 18.4% compared to 2018, accompanied by a growth in returns on these portfolios in 2019 by 59% compared to 2018

And he explained that "the gold segment has grown in 2019 by 18.8% compared to 2018," noting that although the bank's investment in this asset has not increased during this year, the increase in the value of these holdings came as a result of the significant increase witnessed by the price of gold globally

 


 

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The foreign reserves of the Central Bank of Iraq are growing in 2019


19172.jpg
 

20th February, 2020 by Samir Al-Nassery   
 


The Central Bank of Iraq issued a press release on the annual report on the performance of foreign reserves for 2019 in line with the strategy and the principle of disclosure and transparency that the Central Bank is working on in international banking transactions. As the annual report shows that foreign reserves achieved a growth of 5.52% compared to 2018.

On the level of investment portfolios, their value achieved a net growth of 18.4% compared to 2018, accompanied by a growth in returns to investment portfolios by 59%. The statement pointed out that the gold reserves had achieved a growth rate of 18.8% and Iraq ranked 38 globally and 5 Arabs and a total balance of 96.3 tons.

The annual report for 2019 also confirmed that the growth rates achieved in foreign reserves were consistent with the central bank's plan to enhance returns and build capacity in the field of self-management of reserves. Therefore, during the year 2019, the bank established international banking relations and entered into agreements and memoranda of understanding with international banks classified and institutions Solid finance, the International Bank for Reconstruction and Development, the Arab Monetary Fund and international institutions concerned with investment management.

Which has had a great impact on achieving economic resilience and consequently the financial victory in complicated circumstances that have continued during the past five years. The follower and the specialist are well aware that access to these rates of foreign reserves is due to the central bank adopting safe investment policies, which strengthened the credit position internationally and restored confidence in the Iraqi economy and its international banking relationships.

In addition, what the Central Bank accomplished in 2019 confirms the integrity and success of its strategy for the years (2016-2020). And achieved from the achievements in the financing activity and activating its initiative to finance small and medium projects and raising the loan ceiling to one billion dinars for each project within the initiative’s goals in stimulating the economic cycle and supporting the implementation of the objectives of the desired economic reform and strengthening the economy and achieving the goal of banks as a development lever.

Therefore, the bank is currently working on direct Islamic financing for government and private banks. In addition to that, the implementation of societal initiatives is expanded from the Fund for Empowering National Effective Experience in integrating the banking sector with society and achieving the goal of social, economic and humanitarian banks.

The clear evidence that can never be covered is the continuation and perpetuation of the stability of the exchange rate over a period of two years and maintaining the inflation rate of less than 2%. Thus, the Central Bank, with its distinguished and national work team, was able to achieve its goals set out in its Law 56 of 2004, which is to build foreign reserves, reduce inflation and maintain The stability of the exchange rate. The Central Bank is currently actively and aggressively achieving the goals of strengthening the economy and banks for development.

Edited by DinarThug
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https://www.almaalomah.com/2020/02/20/456879/........

Al-Rafidain announces the opening of documentary credits for ministries, traders and private sector companies

10:45 - 20/2020
0
    
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The information / Baghdad ..

Al-Rafidain Bank announced, on Thursday, that documentary credits will be opened for state ministries, merchants and private sector companies, with soft commissions.

The bank’s media office said in a statement, which received (information), a copy of it, that “the bank is ready to receive requests to open documentary credits for merchants and the public and private sectors in financing foreign trade.”

The statement added, "Opening the documentary credit for the merchants who carry out the import and export operations of their goods and shipping them and taking them out in case they conform to the legal conditions are easy with the bank because the Rafidain Bank is a government agency and therefore the completion of the documentary opening letter of credit is according to quick procedures that differ from other banks." Ended / 

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1 hour ago, blueskyline said:

Article: Al-Rafidain announces the opening of documentary credits for ministries, traders and private sector companies.

 “the bank is ready to receive requests to open documentary credits for merchants and the public and private sectors in financing foreign trade.”

 

Thanks blueskyline....a very promising statement...! :twothumbs:

Edited by ronscarpa
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5 hours ago, blueskyline said:

 

Al-Rafidain announces the opening of documentary credits for ministries, traders and private sector companies

    
The information / Baghdad ..

Al-Rafidain Bank announced, on Thursday, that documentary credits will be opened for state ministries, merchants and private sector companies, with soft commissions.

The bank’s media office said in a statement, which received (information), a copy of it, that “the bank is ready to receive requests to open documentary credits for merchants and the public and private sectors in financing foreign trade.”

The statement added, "Opening the documentary credit for the merchants who carry out the import and export operations of their goods and shipping them and taking them out in case they conform to the legal conditions are easy with the bank because the Rafidain Bank is a government agency and therefore the completion of the documentary opening letter of credit is according to quick procedures that differ from other banks." Ended / 


 

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Al-Rafidain announces the opening of documentary credits for ministries, traders and private sector companies

image.jpeg.00b24fb7c2bff89d5a34b1e82f2df9dd.jpeg
 

20th February, 2020

 

Al-Rafidain Bank announced, on Thursday, the opening of documentary credits for state ministries, merchants and private sector companies, with soft commissions.

"The bank is ready to receive requests to open documentary credits for merchants and the public and private sectors in financing foreign trade," the bank’s media office said in a statement received by Mawazine News.

He pointed out, "Opening the documentary credit for the merchants who carry out the operations of importing and exporting their goods and shipping them and taking them out in case they conform to the legal conditions in an easy way at the bank because the Rafidain Bank is a government agency and therefore the completion of the documentary opening letter of credit is according to quick procedures that differ from other banks." 

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Rafidain Bank announces the opening of documentary credits to ministries, traders and private sector companies

 

Rafidain Bank announces the opening of documentary credits to ministries, traders and private sector companies
 

 

02/20/2020 10:14:35


 

Al-Rafidain Bank announced the opening of documentary credits to state ministries, merchants and

 private sector companies with soft commissions.
The bank’s media office said in a statement that the Al Furat News Agency received a copy of it.

He pointed out that "opening the documentary credit for the merchants who carry out the operations of importing and exporting their goods and shipping and taking them out in case they conform to the legal conditions is easy with the bank because the Rafidain Bank is a government agency and therefore the completion of the documentary opening letter of credit is according to quick procedures that differ from other banks."
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