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

[yota691]

 

Al-Rasheed Bank invites its customers to move their accounts to avoid turning them into dormant and abandoned money

 

 2022-01-19 06:55

 

Shafaq News/ Al-Rasheed Bank called on Wednesday the owners of open accounts with it to review its branches to move them in order to avoid turning them into dormant accounts and abandoned funds.

And the media office explained in a statement today, that the passage of a full year without moving the account is transferred to a dormant account, and funds left inside the branch, and the passage of a period of 7 years, is transferred to the Central Bank of Iraq.

He added that in both cases, returning the existing funds requires some procedures. To avoid this, we hope to move them from time to time through withdrawals and deposits.

[yota691]

Al-Rafidain: More than 61 thousand accounts were opened for citizens to deposit their money last year

 

banks Economy News _ Baghdad Today, Thursday, Al-Rafidain Bank announced the outcome of the number of accounts opened for citizens in Baghdad and the governorates during the past year, which amounted to 61,298 savings and current accounts. The media office of the bank said in a statement received by "Al-Iqtisad News", that "the number of current accounts that were opened for citizens in the past year reached 9,247 current accounts in dinars and dollars," noting that "the number of savings accounts for citizens amounted to 46,415 accounts in dinars and dollars, in addition to that The number of deposit accounts is 5636. He added that "the bank continues to provide its services and open accounts for citizens in dinars, dollars and fixed deposits for those wishing to deposit their money in the bank and obtain interests according to the terms and controls established, and the bank's customers can visit its branches in Baghdad and the provinces to see them."

Views 416   Date Added 01/20/2022

[horsesoldier]

Things are looking up.

 

Free toaster with every new account. Bingo, where do I sign

[currenzcraze]

A Record Rise In The Rate Of “Domestic Cash” Outside Iraqi Banks In 2021

02/07/2022 | 3:21 PM

Information / Baghdad..

The economic expert, Manar Al-Obaidi, revealed, on Monday, the high proportion of the local monetary mass outside the scope of Iraqi banks at the end of last year.

Al-Obaidi said, in a Facebook post followed by / the information, that “the local cash outside the banking system has increased by 50% since the beginning of 2020 to reach more than 70 trillion dinars at the end of 2021, after it was 47 trillion dinars at the beginning of 2020.”

He attributed this to "the weak banking culture and the lack of confidence in the banking system, which kept many from dealing with local banks."

The expert explained that “deposits with Iraqi banks increased by 15% to reach 93 trillion dinars, after it was at the beginning of 2020 81 trillion Iraqi dinars,” noting that “the ratio of cash outside the banking system to the volume of deposits is about 75%, which is a high percentage. Very much compared to other countries.

He pointed out that “the private sector deposits constitute 45% of the total deposits, while government institutions’ deposits amount to 27%, while the central government’s deposits with banks amount to 28%, in contrast, the contribution of the banking and insurance sector to the GDP is less than 1.5%.”

He called for "the adoption of banking policies that increase confidence in the banking sector, as well as the adoption of more strict policies in monetary transactions outside the banking system that would increase the value of deposits and reduce the cash outside the banking system, which will lead to an increase in the banking sector's contribution to the domestic product, which would create job opportunities." Reality in a country where the unemployment rate is more than 30%.”

Al-Obaidi considered that “Iraq is among the countries with a low banking mass, where there is a bank for every 32,000 people, while the global average is 10,000 people for each bank, and Iraq needs to open 3 times the number of banks and their branches that currently exist, and many of the existing banks are weak banks that depend on auctions.” Work on the sustainability of its work.” finished/25h

https://almaalomah.me/2022/02/07/580993/

[yota691]

Al-Rafidain announces the continuation of withdrawals and deposits in its branches

 

banks Economy News _ Baghdad Today, Wednesday, Al-Rafidain Bank announced the continuation of withdrawals and deposit operations in the bank’s branches in Baghdad and the governorates.  A statement by the bank, received by Al-Iqtisad News, stated that "the bank's branches continue to receive customers who deposit their money and open savings accounts for the purpose of obtaining profitable benefits for them." The statement added, "The rate of interest and fixed deposits has been determined, and citizens can review the bank's branches for information."

Views 179   Date Added 02/09/2022

[yota691]

Al-Rafidain clarifies regarding withdrawals and deposits of citizens’ money

06:57

Fourth - Baghdad

Today, Saturday, Al-Rafidain Bank announced the continuation of withdrawal and deposit operations in the bank’s branches in Baghdad and the governorates. 

 

And the media office of the bank explained, in a statement received by (the fourth), that "the bank's branches continue to receive customers who deposit their money and open savings accounts for the purpose of obtaining profitable benefits for them."

 The statement indicated, "The rate of interest and fixed deposits has been determined, and citizens can review the bank's branches for information."

[dinarham]

So interest bearing accounts are a new thing in Iraq? As it stands now , interest , say 5% . would be a laughable amount.

[Wiljor]

Good morning Yota, and as always, much appreciated sir 🙏

 

 "the bank's branches continue to receive customers who deposit their money and open savings accounts for the purpose of obtaining profitable benefits for them."

 

The campaign to bring in the "chunky" money is still being promoted, and would seem, to have great results as more Iraqi's open bank  accounts. 

Progress is well underway 

[yota691]

Finance determines interest rates and fixed deposits for withdrawals and deposits

 

•  Today, 16:09

Today, Sunday, Al-
Rafidain Bank, affiliated to the Ministry of Finance, announced the interest rates and fixed deposits for citizens’ accounts for the year 2022.
The ministry said in a statement received by the Iraqi News Agency (INA), that “the bank has set the interest rate for savings accounts to be 4% and on Over the course of a year, the fixed deposit rate was determined to be at an interest rate of 4.5% for a period of six months and an interest rate of 5% for a period of one year.
She added, "The interest period for a fixed deposit account over two years was set at 5.5% for less than 50 million dinars and 6% for more than 50 million dinars."
The ministry indicated that "the bank continues with withdrawals and deposits in all its branches spread throughout the governorates, and all citizens can review the bank for the purpose of benefiting from these services."

 

 

[yota691]

Al-Rafidain announces the number of accounts opened for citizens in the last month

• Time: 02/15/2022 10:18:11
•  
• Reading: 429 times

  

{Economic: Al Furat News} Rafidain Bank announced, on Tuesday, the number of open accounts for citizens and other groups in its branches in Baghdad and the provinces during last January.

The media office of the bank stated in a statement that {Euphrates News} received a copy of it, that “the number of accounts amounted to 4595 savings and current accounts in dinars and dollars, and deposit accounts,” noting that “the number of current accounts that were opened for citizens and other categories reached 541 current accounts in dinars and dollars.” 

The statement added: "While the number of savings accounts for citizens reached 2,948 accounts in dinars and dollars, in addition to the number of deposit accounts amounted to 564," noting that "the bank continues to provide its services by opening accounts for citizens in dinars and dollars who wish to deposit their money in the bank and obtain interest. According to the terms and conditions set, the bank's customers can visit its branches in Baghdad and the provinces to review them. 

[DoD]

On 2/12/2022 at 6:25 AM, dinarham said:

So interest bearing accounts are a new thing in Iraq? As it stands now , interest , say 5% . would be a laughable amount.

I opened a interest bearing savings account from Warka Bank in 2007 and the last time I could check they were still paying interest. 
These accounts are not new…

[3 bucks new rv rate]

An economist expects the “dollar” scene in Iraq after the exchange rate movements

1 hour ago

 

The economic expert, Nabil Al-Marsoumi, expected that most citizens would give up their dollar savings and convert them to the Iraqi dinar.
  
“It is expected that after the unexpected response from the Minister of Finance and the accompanying turmoil in the currency market, most people will give up their dollar savings and convert them to the Iraqi dinar,” Al-Marsoumi said in his blog post, “February 19, 2022.”
 
He explained that "in light of the lack of confidence in the Iraqi banking system, the demand for land, real estate and gold is expected to rise because they are a store of value, which will lead to an increase in their prices or people hoarding some of their savings in Iraqi dinars, in addition to the expectation that the Central Bank of Iraq's sales will decline in the coming days due to the increase in the dollar supply." in the local market.”
agencies

 

link  :  https://ashourland.net/2022/02/19/خبير-اقتصادي-يتوقع-المشهد-الدولاري/