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Al-Rafidain gives "financial benefits" to those wishing to open an account


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Al-Rafidain gives "financial benefits" to those wishing to open an account

 
 
Baghdad: Morning
 
Al-Rafidain Bank continues to open accounts (current and savings) for citizens and other segments to deposit their money, in exchange for granting them financial benefits.
In a statement, the bank’s media office called on citizens to “visit the branches for the purpose of seeing special instructions, placing their money in the bank and not hoarding it in homes in light of the positive benefits set by the bank in return for that.”
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Al-Rafidain gives "financial benefits" to those wishing to open an account Monday 02nd November 2020 54    

We added the"POW" feature since you left. Not much has changed here, we are still checking in watching these guys try to get their act together. 😃

Financial crisis ... Fact or fabrication ?! SAT, 26-12-2020, AM 1:15   KARRAR AL-ASADI   215   http://non14.net/public/ima

Posted Images

So still after those elusive out of system home bound iqd huh ...well here's a novel idea 

 

1) change the currency rate ( purchasing power ) for the iraqis

2) introduce the LD's

3) exchange the old for new 1 to 1 

4) dancing in the streets 

:cigar:

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Majid Al-Suri: Iraq may get "conditional loans" from abroad

 
 Baghdad: Morning
 


The economic expert, Majid Al-Suri, warned that it is difficult for Iraq to obtain more foreign loans without conditions, at the forefront of which is "eliminating the waste of public money", pointing out the need for the government to seek to exploit "hoarded funds" to eliminate the liquidity crisis in Iraq.

In a statement to Al-Sabah, Al-Suri said, "The total internal and external public debt of Iraq amounts to 111.610 billion dollars. 

And if we exclude the hateful debts that have not been settled so far, amounting to about $ 41 billion, the total public debt of Iraq amounts to about 71 billion.
 Dollars. " 
Pointing out that most of the debts service installments will be due during the current year and the coming years, which, according to estimates of the 2020 budget, amounted to about 14.5 trillion dinars, or about 12,233 billion.
 Dollars.
Al-Suri believes that "the fragility of the economic and financial situation has placed Iraq in an unenviable position."
 Accordingly, this led to the weak prospects of obtaining loans from abroad, whether from foreign countries or international organizations, without conditions, the first of which is the elimination of the waste of public money, resulting from extravagance in operational expenses, and the expansion of consumer expenditures.
The economic expert pointed out that among the conditions that may be set by the creditors, is the need to work to combat administrative, financial and bureaucratic corruption in Iraq. 
Focusing on providing infrastructure services, activating domestic industrial, agricultural and service production, alleviating poverty and unemployment, and eliminating illiteracy.
Indicating at the same time. 
"Opportunities to obtain internal loans have become more difficult due to the exhaustion of most of the available resources that were utilized during the years 2014 and 2015 during the period of fighting ISIS.
 Terrorist. "
Al-Suri explained that the most available outlet now is to go towards the money hoarded in homes, by issuing bonds that can be traded among members of society with a guarantee of the possibility of liquidating them upon request and at an attractive interest.
 To buy them.
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11 hours ago, TOMINVEGAS said:

Iraqi citizens need to open bank accounts in order for this to succeed. They need to be out in droves opening new accounts....

 

Absolutely ! :tiphat:

The persisting problem being after years of corruption, many still have a hard time trusting the GOI or the financial institutions.

Perhaps this is lessening and folks are taking the plunge.

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63 trillion dinars are "reassuring liquidity", half of which is in banks

 
  Baghdad: Ahmed Abd Rabbo  
 
The director of the Rasheed Bank, Basem Abd Ali, confirmed the bank’s ability to meet all loan requests from local currency, especially employee advances.
He said in a statement to Al-Sabah: The bank’s branches are witnessing a great turnout for the purpose of credit. 
Commenting on the words of the director of the Rasheed Bank, Ahmed Hama, a member of the Finance Committee in the House of Representatives, said in a statement to Al-Sabah that small and medium-sized loans may move the markets "temporarily", meaning that they cannot be relied upon for long periods. 
Hama finds, "It is impossible to dispense with the cash liquidity released by the government in the form of salaries, grants and expenses that move and revive the local markets."
Within the context, the director of Al-Rafidain Bank, Hussein Ali, revealed that there is a tendency to support and finance "new and stalled" strategic projects.
He said, "Al-Rafidain decided to grant interest in advance to fixed deposits deposited by citizens for different periods of time," in addition to working to "reduce interest on all advances and loans granted to citizens and employees."
The banking expert, Abdul-Hussein Al-Mandhari, told Al-Sabah: “Any delay in launching these sums (salaries and monthly allowances) disrupts commercial and service interests, and causes stagnation and contraction in local markets,” he estimated at 8 trillion dinars per month.
He pointed out that "most of the employees resort in such circumstances to banks to obtain small and medium advances to meet their current expenses, such as rent and other pressing expenses."
The banking expert pointed out that «the volume of cash issued (printed) by the Central Bank is 63 trillion dinars», indicating that half of it is «chunky in homes», while «the other half in banks».
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4 minutes ago, yota691 said:

«chunky in homes», while «the other half in banks».

I guess they are right, Dver's have IQD stash away @ the house, but the other half is in a bank...if the CBI would add some purchasing power to it they can get some of it back:lol:....Evening DV...

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  •  Time: 11/08/2020 09:52:19
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63 trillion dinars of "reassuring cash" ... half of it is in homes
  
{Baghdad: Al Furat News} The director of the Rasheed Bank, Basem Abd Ali, confirmed the bank’s management’s ability to meet all loan requests from the local currency, especially employee advances.

Abd Ali said in a press statement, "The bank's branches are witnessing a great turnout for the purpose of credit. The bank’s liquidity and other banks are very reassuring and there is no reason for fear and panic over its retreat. In addition, we will launch a new loan initiative next year." 
Commenting on the words of the director of the Rasheed Bank, a member of the Finance Committee in the House of Representatives, Ahmed Hama, said in a press statement that "small and medium loans may move the markets temporarily, meaning that they cannot be relied upon for long periods."
Hama finds, "The cash liquidity released by the government in the form of salaries, grants and expenses that moves and revitalizes local markets is indispensable."
Within the context, the director of Al-Rafidain Bank, Hussein Ali, revealed that there is a tendency to support and finance "new and stalled" strategic projects.
He said: Al-Rafidain decided to grant interest in advance to fixed deposits deposited by citizens for different periods of time, in addition to working to “reduce interest on all advances and loans granted to citizens and employees.”
Banking expert Abdul-Hussein Al-Mandhari said in a press statement, "Any delay in launching these sums (salaries and monthly allowances) disrupts commercial and service interests, and causes local markets to stagnate and shrink," and he estimates them at 8 trillion dinars per month.
He pointed out that "most of the employees resort in such circumstances to banks to obtain small and medium loans to meet their current expenses, such as rent and other pressing expenses."
The banking expert pointed out that "the volume of cash issued (printed) by the Central Bank is 63 trillion dinars," noting that half of it is "chunky in homes", while "the other half is in banks."

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%D8%B1%D9%88%D8%A7%D8%AA%D8%A8-696x435.j

The information / Baghdad ..

The director of the Rasheed Bank, Basem Abd Ali, confirmed the bank’s ability to meet all loan requests from local currency, especially employee advances.

"The bank's branches are witnessing a great turnout for the purpose of credit, and the bank's liquidity and other banks are very reassuring, and there is no reason for fear and panic over their retreat, and we will launch a new loan initiative next year," he said in a statement reported by Al-Sabah newspaper.

For his part, Director of Al-Rafidain Bank, Hussein Ali, revealed that there is a tendency to support and finance "new and stalled" strategic projects.

Ali said, Al-Rafidain “decided to grant interest in advance to fixed deposits deposited by citizens for different periods of time,” in addition to working to “reduce interest on all advances and loans granted to citizens and employees.” End / 25

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  • 3 weeks later...

Al-Rafidain invites citizens ... Benefit from the benefits of depositing money

271120201221522572020102443804CC325-FD7E

 
 
 

58 minutes ago

1134 views


Digital Media NRT

On Friday, Al-Rafidain Bank called on citizens to move away from hoarding money and opening bank accounts to obtain financial benefits.

The bank’s media office said in a statement that Digital Media NRT received a copy of it, today (November 27, 2020), that “depositing citizens’ money in bank branches and opening bank accounts for them is matched by the granting of interest. ”

He added, "Many citizens are still hoarding their money in homes and to no avail, and they should benefit from moving this money in the banking sector, investing it and attracting it to operate in other sectors."

The official Al-Sabah newspaper quoted the director of Al-Rafidain Bank, "Hussein Ali," as saying that "the bank granted interest in advance for fixed deposits deposited by citizens for different periods of time."

 

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Editing date: 11/28/2020 10:23 • 120 times read
http://www.alliraqnews.com/uploads/news/image/medium/story_img_5fc1fadfdfdcd.jpg
[Baghdad_Where]
Al-Rafidain Bank directed, on Saturday, all its branches in Baghdad and the governorates to continue to receive customers wishing to open accounts of all kinds.
The bank’s media office said in a statement. “Many citizens have a great desire to open accounts for the purpose of depositing their money in the bank and obtaining benefits.”
The office called on the bank’s employees to "provide the necessary facilities for those who intend to deposit their money in the banking system and benefit from the services provided by the bank through those deposits."
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Al-Rafidain directs to continue opening accounts for citizens to deposit their money
  
{Baghdad: Al Furat News} Al-Rafidain Bank directed, on Saturday, all its branches in Baghdad and the governorates to continue to receive customers wishing to open accounts of all kinds.

The bank’s media office said in a press release that "many citizens have a great desire to open accounts for the purpose of depositing their money in the bank and obtaining interest." 
And he called the bank’s employees to "the necessity of providing the necessary facilities for those who intend to deposit their money in the banking system and benefit from the services provided by the bank through those deposits."
Ali al-Rubaie

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Al-Rafidain Bank instructed, today, Saturday, to continue opening accounts for citizens to deposit their money.

The media office of the bank said in a statement that “Al Ahed News” obtained a copy of, that “the general administration of the bank has directed all branches in Baghdad and the provinces to continue to receive customers wishing to open accounts of all kinds.”

The statement pointed out that "many citizens have a great desire to open accounts for the purpose of depositing their money in the bank and obtaining benefits."

And the bank called in his statement "bank employees to the necessity of providing the necessary facilities for those who intend to deposit their money in the banking system and benefit from the services provided by the bank through those deposits."

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 2020-11-29 03:23
 

Shafaq News / Member of the Parliamentary Finance Committee, Representative Jamal Cougar, said on Sunday that lean banks and insecurity are behind people hoarding their money in homes.

Cougar said in an interview with Shafaq News; "There are hoarded money among the people, and therefore when the situation is worrying, the owners of these funds do not have the courage to work in internal investment," noting that "they either invest abroad or remain hoarded."

He continued, "Our banks are not as solid as required, in addition to the confused security environment that is expelling investments and capital, making most people keep their money either at home or in a MasterCard and not use it."

He added, "The government can give reassurance and confidence to the citizen, create safe job opportunities, and create a stable security environment to make the citizen get out of this hoarded money and invest it in a way that moves the economic process."

Iraq has been suffering from a suffocating financial crisis for several months due to the collapse of crude oil prices, the repercussions of the Corona virus and the economic effects it caused on most countries of the world.

According to the Central Bank of Iraq, there is a large percentage of the money hoarded in homes and not invested, indicating that 77% of the Iraqi currency circulating in the market is hoarded in the homes of citizens.

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Applied in the Arabian Gulf ... an economic proposal to supplement Iraq's budget with huge funds

 

7,015 Economie 2020/11/28 18:07 ht Baghdad Today -

Special The economic expert, Mahdi Daoui, called, on Saturday, November 28, 2020, to increase the benefits of private savings in banks, indicating that this strategy will return large sums of money in favor of the market and the state treasury and that will save money Dawi said in an interview with (Baghdad Today), "There are several reasons behind the reluctance of Iraqis to deposit their private savings in banks, indicating the religious reasons under the pretext of usury, and the concern over the deposit caused by lack of confidence in some banks, as well as the lack of awareness about investment from Way of deposit. " He added that "the weakness of deposits will lead to cutting off the movement of the monetary mass because savings represent a source of liquidity for investors," pointing out that "many countries of the world rely on depositing in their economic affairs and creating balances." He continued, "The monetary blocks saved in civilian homes are large and far from the reach of banks, so it is necessary to attract them by raising the interest rate or giving financial incentives to their owners." "The markets of Asia and the Gulf states were largely dependent on savings that revived their economic situation in crises and saved them," Dawi said. Earlier, the economic expert, Rasem al-Akidi, proposed an option that would be an alternative to external and internal borrowing and would achieve five benefits for Iraqis, most notably the continuous insurance of salaries. Al-Aqidi said in an interview with (Baghdad Today), that "45% of Iraqi funds are hoarded in homes mainly because of the lack of confidence among citizens in government and private banks, in addition to the fact that government banks still use very traditional frameworks in depositing and withdrawing deposits that make citizens move away from depositing." His money. " He added, "The financial liquidity hoarded in the homes of Iraqis can be pushed to deposit in banks by liberalizing the interest rate to mobilize savings and reach 10%, which will drive many to deposit in banks, pointing out that this cash block will give flexibility to the state in ensuring the payment of salary dues without Any problems in addition to that it will give a profit margin to civilians and reduce the repercussions of thefts and give flexibility to the movement of markets because the banks will have large liquidity for lending and financing projects. Al-Aqidi pointed out, "Most countries in the world adopt the automatic payment method and have paid for the localization of the salaries of their employees through current accounts in banks, meaning that the process of carrying cash is very limited and payment is made through automated payment cards, as it will lead to legalizing money transfer and prevent terrorism financing and money smuggling And reduce the windows of corruption. "

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1 hour ago, yota691 said:

Applied in the Arabian Gulf ... an economic proposal to supplement Iraq's budget with huge funds

 

Thanks Yota i enjoy all the bank articles kinda gives a snapshot picture at times what the cbi is Planning cheers .

interesting article , the bank articles stated anywhere from 45-75% of iqd in iraq is being kept out of the banking system in homes or invested outside iraq by iraqi's and it must be common knowledge isis would not only wipe out the banks but knew it was kept in homes ,  now proposal is to offer 10% interest in banks to deposit  ( not to shabby ) ..... if there is so much iqd flooding iraq why do the banks have such liquidity issues ? they seem to really need to want that money brought back in for some reason or there is not near as much iqd as reported that is in iraq's money supply numbers that said if the cbi really does need the iqd outside the system back either reinstated iqd value or give a timeframe to turn the iqd back to the bank in a  way how the cbi did the 50 iqd note it simply makes no sense lol like anything does in iraq .. right , we  wait

 

here's a short list what americans can receive form the banking system

Interest Rates for Savings Accounts at the Biggest U.S. Banks
Wells Fargo Bank 0.01% $0
Citibank 0.04% $0
US Bank 0.01% $0
BB&T 0.01%

$0

 

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18 minutes ago, 3n1 said:

 

Thanks Yota i enjoy all the bank articles kinda gives a snapshot picture at times what the cbi is Planning cheers .

interesting article , the bank articles stated anywhere from 45-75% of iqd in iraq is being kept out of the banking system in homes or invested outside iraq by iraqi's and it must be common knowledge isis would not only wipe out the banks but knew it was kept in homes ,  now proposal is to offer 10% interest in banks to deposit  ( not to shabby ) ..... if there is so much iqd flooding iraq why do the banks have such liquidity issues ? they seem to really need to want that money brought back in for some reason or there is not near as much iqd as reported that is in iraq's money supply numbers that said if the cbi really does need the iqd outside the system back either reinstated iqd value or give a timeframe to turn the iqd back to the bank in a  way how the cbi did the 50 iqd note it simply makes no sense lol like anything does in iraq .. right , we  wait

 

here's a short list what americans can receive form the banking system

Interest Rates for Savings Accounts at the Biggest U.S. Banks
Wells Fargo Bank 0.01% $0
Citibank 0.04% $0
US Bank 0.01% $0
BB&T 0.01%

$0

 

Great synopsis  3n1 and great post Yota!! It’s awesome to see these articles about how much money is kept in homes for one main reason we should be getting closer to RV time. When the dinar RV’s the amount that they can actually RV is determined by the amount of circulating dinar inside of Iraq. It doesn’t matter how much dinar is outside of Iraq because again Iraq only need to be able to cover what’s circulating inside of Iraq. The other reason Iraq wants as much dinar inside of the bank Pre RV and inside the bank is to reduce Iraq people fleeing the country and taking their currency outside of Iraq to cash in at a higher exchange and turning the currency into dollars or whatever! Again the Iraqi citizen will only benefit of getting much greater purchasing power! They have laws that say an Iraqi citizen cannot leave the country with more then 200k dinar I believe it was but can’t remember it was extremely low! Inside Iraq again when they bring in their old currency of large notes they will get the new lower denoms on exchange of 1 to 1 which in essence is a lop in that sense however they gained much greater purchasing power on that lower denom note of say 100X if the dinar rate say were to RV at $1.17 to 1 dollar as an example! If their money is already in the bank it makes this transition much much easier because when they go to withdraw their money they will only receive the new lower denoms which again will have the adjusted higher value with much greater purchasing power if that makes sense. Only the corrupt politicians like Maliki that already have millions of dinar Outside of Iraq will become huge Billionaires overnight when this RV happens! Yes it’s sad to say but hopefully with the banks around the world maybe they eliminate that moron getting even richer off of Iraq!!

Edited by Dinarrock
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nice projections Drock , i have heard it broken down similar to that over the years , one can only hope , right .. but i feel the majority of what maliki and others moved offshore or invested away from iraq was in USD in the height of his corruption oil was over 100 dollar a barrel and he had taken shabibi out of play to execute his plan hijacking fortunes from iraqis , ones wealth doesn't skyrocket over $50 billion for just being iraq PM .......cheers all the best :tiphat:

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6 hours ago, Dinarrock said:

Great synopsis  3n1 and great post Yota!! It’s awesome to see these articles about how much money is kept in homes for one main reason we should be getting closer to RV time. When the dinar RV’s the amount that they can actually RV is determined by the amount of circulating dinar inside of Iraq. It doesn’t matter how much dinar is outside of Iraq because again Iraq only need to be able to cover what’s circulating inside of Iraq. The other reason Iraq wants as much dinar inside of the bank Pre RV and inside the bank is to reduce Iraq people fleeing the country and taking their currency outside of Iraq to cash in at a higher exchange and turning the currency into dollars or whatever! Again the Iraqi citizen will only benefit of getting much greater purchasing power! They have laws that say an Iraqi citizen cannot leave the country with more then 200k dinar I believe it was but can’t remember it was extremely low! Inside Iraq again when they bring in their old currency of large notes they will get the new lower denoms on exchange of 1 to 1 which in essence is a lop in that sense however they gained much greater purchasing power on that lower denom note of say 100X if the dinar rate say were to RV at $1.17 to 1 dollar as an example! If their money is already in the bank it makes this transition much much easier because when they go to withdraw their money they will only receive the new lower denoms which again will have the adjusted higher value with much greater purchasing power if that makes sense. Only the corrupt politicians like Maliki that already have millions of dinar Outside of Iraq will become huge Billionaires overnight when this RV happens! Yes it’s sad to say but hopefully with the banks around the world maybe they eliminate that moron getting even richer off of Iraq!!

Excellent 

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