A warning from Al-Rafidain regarding granting advances and loans

[yota691]

South Bank: A remarkable turnout for the implementation of the Central Bank's instructions for the dollar

Economical  2023/02/18

 

 

 Baghdad: Ali Muwaffaq

Al Janoob Islamic Bank recorded a wide turnout by merchants to implement the recently launched soft instructions of the Central Bank, and confirmed that no commissions were deducted in return for completing their commercial transactions and selling the dollar at the specified price.

 

Concurrently, he revealed that housing loans were granted in the amount of 100 million dinars in return for simple guarantees.

 

The assistant managing director of the bank, Ali Shaker, told Al-Sabah: The bank carried out the central bank’s instructions during the dollar crisis through its contribution to opening windows for direct sale to citizens wishing to travel and for treatment and other purposes at the official price, and adopting simple facilities that include bringing a valid passport, valid ticket and visa, With work all days of the week except Friday to meet the requirements in this aspect.

 

He pointed out that there is a momentum of merchants currently on the banks after the Central Bank issued new instructions to facilitate the provision of the dollar by requesting the commercial invoice only, making sure that there is a real merchant outside the country, and separating other requirements such as customs and tax for transfers.

Shaker explained that the bank periodically sends reports to the Central Bank on dollar sales to citizens and merchants, while creating a database on this process to prevent its exploitation by the weak-minded.

 

He continued that the bank provides various services such as settlement, information, cash deposit and visa issuance free of charge to all sectors, and it is in the process of launching new services for citizens such as buying furniture, studying, treatment, cars and homes through the Central Bank window and soft cash loans, as the bank operates according to the Islamic system, i.e. direct purchase for the benefit of The bank and then sell to the customer with easy installments and reduced guarantees.

 

Shaker confirmed that the bank is working to grant housing loans in the amount of 100 million dinars in exchange for simple guarantees, and what exceeds this amount is taken as real estate guarantees, pointing out that the bank has addressed the Central Bank in order to reconsider the standard ratio for investment, because it is restricted to the work of Islamic banks in order to make room To expand investment operations.

 

The assistant managing director of the bank pointed out that the bank has many community initiatives, which included building 5 schools, constructing 144 homes and distributing them to needy families, as well as donating 200,000 trips to all schools in the country through contracting with laboratories to process them on a daily basis in the form of batches, in addition to launching an initiative for people with special needs. And salaries for the needy, paid on a monthly basis, and exceptional humanitarian cases, as well as the distribution of aid to the camps for the displaced, and the donation of one billion dinars to the national team that won the Gulf Cup.

 

He announced that the bank is currently moving towards digital and automation services by facilitating the procedures for opening accounts, commercial transactions, transfers, banking inquiries and other services via mobile phones and the Internet. During the past year, it achieved profits amounting to 40 billion dinars, and it is also the second bank to open credits after the Iraqi Trade Bank. amounting to one billion dollars.

[yota691]

Minister: Allocating about 400 billion dinars in the budget to suppor t the lending fund in Iraq

2023-02-19 06:04

 

 

Shafaq News/ The Minister of Labor and Social Affairs, Ahmed Al-Asadi announced, on Sunday, that his ministry will support small projects by allocating about 400 billion dinars in the budget to support the Lending Fund.

 

This came during a speech he delivered during the annual conference and exhibition of business incubator projects, which was set up by the Department of Labor and Vocational Training with the support of the German Agency for International Cooperation.

 

 

Al-Asadi explained in his speech that the ministry will work to support small projects by allocating about 400 billion dinars in the general budget to support the loan fund, noting that the ministry seeks to make the loans it grants productive loans for real projects.

[6ly410]

Chairman of the National Investment Commission directs the adoption of the Iraqi dinar in the payment of housing projects dues

Tuesday 21 , February 2023 17:31 |EconomicalViews: 95

Chairman of the National Investment Commission directs the adoption of the Iraqi dinar in the payment of housing projects dues (ninanews-com.translate.goog)

Bagdad (NIA) - The head of the National Investment Commission, Haidar Mohammed Makiya, directed the adoption of the Iraqi dinar in the payment of housing projects. The Commission said in a statement: “Makiya directed the investment commissions in all provinces to be the payment of installments of housing units in residential investment complexes that have investment licenses from the Baghdad Investment Commission and the provincial investment commissions through each of the investing companies to Open a special account in Iraqi banks with a mechanism of account (different currency) in the US dollar and at an exchange rate of 1310 dinars to the dollar.

She added: “The official circular issued to the investment commissions in the governorates ensures that the installments of housing units are deposited in these accounts in Iraqi dinars at an exchange rate of 1320 dinars to the dollar, so that the registered citizen does not bear additional burdens."
On the first of February, the Commission issued a circular to the companies contracting with the National Investment Commission for Residential Complexes to commit to paying installments from citizens in Iraqi dinars and at the dollar exchange rate determined by the Central Bank of Iraq for the final beneficiary , which was worth 1470 dinars to the dollar, within the framework of the government's relentless directions in this direction and calling for market stability.
 

[BETTYBOOP]

Another move to force the use of the dinar

[yota691]

Al-Rafidain determines the loan amounts for employees and retirees

2023.03.10 - 08:23

 

Baghdad - Nas  

Al-Rafidain Bank set, on Friday, the amounts of loans for employees, employees of the Ministry of Interior and Defense, and retirees.  

  

  

The media office of the bank said in a statement, which “NAS” received a copy of, (March 10, 2023), that “the advances start from 5 million dinars and reach 25 million dinars, according to the borrower’s entitlement, which is commensurate with the amount of his total monthly salary.”  

  

The statement indicated that "the advance is guaranteed by the Master Card issued by the Rafidain Bank."  

[yota691]

Al-Rafidain: Personal advances amount to 25 million dinars

• Time: 03/10/2023 08:21:06
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• Read: 1,742 times

  

{Economic: Al Furat News} Al-Rafidain Bank determined the amount of advances for employees, employees of the Ministry of Interior and Defense, and retirees.

The media office of the bank stated, in a statement, that “the advances start from 5 million dinars and reach 25 million, according to the borrower’s entitlement, which is commensurate with the amount of his total monthly salary.”
He pointed out, "The advance is guaranteed by the Master Card issued by the Rafidain Bank."

[yota691]

Al-Rafidain determines the amount of advances for four categories

2023.03.17 - 08:29

 

Baghdad - Nas  

Al-Rafidain Bank set, on Friday, the amount of advances for four categories.  

  

  

  

And the bank said, in a statement that “NAS” received a copy of it, (March 17, 2023), that “the advances of employees, employees of the defense and interior, and retirees amount to 25 million dinars.”  

  

He added, "Applying for advances is through the bank's electronic application, and the advance is filled by the Master Card."  

  

[yota691]

Al-Rafidain determines the period of repayment of electronic advances

• Time: 03/19/2023 09:55:34
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• Read: 1,222 times

  

{Economic: Al Furat News} Al-Rafidain Bank set the period for paying the advances of employees, employees of the defense and interior, and retirees, which starts from 5 million dinars to 25 million dinars electronically.

The media office of the bank stated, in a statement, that {Euphrates News} received a copy of it, that: “The period for repaying the advance is 5 years, at the rate of 60 months.”

He pointed out, "The application for the advance is through the electronic application of the Rafidain Bank."

[yota691]

Al-Rafidain Bank gives good news to employees and employees of the Ministry of Interior and Defense

2023-03-20 10:44

 

 

 

Shafaq News / The governmental Al-Rafidain Bank announced, on Monday, the launch of the third batch allocated from the advances of employees and employees of the Ministries of Interior and Defense through electronic payment tools.

 

 

The media office of the bank stated, in a statement received by Shafaq News agency, that "the third batch of advances of employees and employees of the Ministry of Interior and Defense was granted electronically, and it starts from 5 million to 25 million."

 

The statement stated, "The disbursement of those advances was done by informing the customer via a text message informing him of the granting of the advance, after he completed all procedures for granting it and disbursing it through the Master Card, in which the financial balance was filled."

 

Al-Rafidain Bank called on the beneficiaries of that advance to “review the bank’s branches or exchange outlets to receive the advance,” noting that “the bank continues to work on granting new portions of advances successively and according to the timetables and timings for applicants through the electronic application of Al-Rafidain Bank.” .

[yota691]

It starts from 5 million to 25 million.. Al-Rafidain launches a new batch of advances through the Master Card

• Time: 03/20/2023 17:28:54
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• Read: 1,729 times

  

{Economic: Al Furat News} Al-Rafidain Bank announced, today, Monday, the launch of the third batch allocated from the advances of employees and employees of the Ministry of Interior and Defense through electronic payment tools

The media office of the bank said, in a statement received by {Euphrates News}, that "a third meal was given to the employees' predecessors and employees of the Ministry of Interior and Defense electronically, starting from 5 million to 25 million."

And the statement indicated that "that advance was disbursed by informing the customer by sending him a text message informing him of granting him the advance, after he completed all the procedures to grant it to him and disbursed it through the Master Card, to which the financial balance was filled."

The bank called, according to the statement, "the beneficiaries of that advance to review the bank's branches or exchange outlets to receive the advance." 

[yota691]

Al-Rafidain issues a clarification regarding granting an advance of 25 million dinars

2023.03.22 - 09:58

 

Baghdad - people  

Al-Rafidain Bank issued, on Wednesday, a clarification regarding the advances of retirees, which range from 5 million to 25 million.  

  

 

And the media office of the bank said in a statement, which “NAS” received a copy of, (March 22, 2023), that “granting advances is exclusively for the original retiree, provided that his age does not exceed 73 years and that he has not exceeded the specified insurance age.”  

  

And he indicated that "applying for the advance will be through the electronic application of Al-Rafidain Bank."  

[yota691]

New directives from Al-Rafidain for retirees

2023.03.23 - 09:56

 

Baghdad - Nas   

Al-Rafidain Bank announced the establishment of a mechanism regarding clearance for the retired employee.  

 

  

  

The media office of the bank stated, in a statement received by “NAS”, (March 23, 2023), that “the bank instructed not to grant the borrowed employee a clearance in the event that he is referred to retirement except after the remaining of the electronic advance is paid from the end-of-service reward and leave accrual after submitting a written pledge.” It shall be approved by the bank with a commitment to pay upon completion of the retirement transaction.  

  

The statement indicated that "in the event that he is not entitled to the end-of-service gratuity, the deduction of the electronic advance will be transferred to the pension."  

  

The statement pointed out that "in the event that the amount of the advance is transferred to the pension salary, the period for completing the retirement transaction for the retiree is not considered a period of delay."  

[yota691]

Al-Rafidain issues a clarification regarding the predecessors of employees and retirees

2023.03.25 - 10:35

 

Baghdad - people  

Al-Rafidain Bank confirmed, on Saturday, that the predecessors of employees, members of the Defense and Interior Ministry, and retirees do not have a sponsor.  

  

  

  

And the media office of the bank stated in a statement that “NAS” received a copy of it, (March 25, 2023), that “the advances start from 5 million to 25 million, according to the entitlement of the borrower, which is commensurate with the amount of his total monthly salary, without a guarantor, and with the guarantee of the Master Card issued by the bank exclusively.” Pointing out that "applying for the advance electronically and through the application of the electronic Rafidain Bank."  

[yota691]

Al-Rafidain warns of "fake" pages bearing his name and calls for not dealing with them

2023.03.25 - 14:27

 

Baghdad - people   

Al-Rafidain Bank warned, on Saturday, against dealing with “fake” pages, websites and links bearing the bank’s name.  

  

  

And a statement by the media office of the bank, which “NAS” received a copy of, stated (March 25, 2023): “The bank stresses the need to deal with the bank’s news and products published on its official website and warns against fake websites and fake social media pages that bear the name of the bank.”  

  

The statement added, "The bank reserves its legal right to prosecute impersonators of the official media of the bank and promoters of fake pages, and that it does not bear responsibility for the publications in it and calls for obtaining news and developments of the bank from its official website (www.facebook.com/rafedainbank/)".  

[yota691]

Al-Rafidain: advances of employees and retirees electronically and without a guarantor

• Time: 03/25/2023 10:19:33
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• Read: 1,612 times

  

{Economic: Al Furat News} Rafidain Bank announced today, Saturday, that the predecessors of employees, employees of the defense and interior, and retirees are without a sponsor.

The bank's media office said in a statement received by {Euphrates News}, "The advances start from 5 million to 25 million, according to the borrower's entitlement, which is commensurate with the amount of his total monthly salary, without a guarantor, and with the guarantee of the Master Card issued by the bank exclusively."

 The statement indicated, "Applying for the advance electronically and through the application of the electronic Rafidain Bank." 

[yota691]

Al-Rafidain: advances from 5 million to 25 electronically

The first  2023/03/28

 

 

 Baghdad: Morning

 

Al-Rafidain Bank specified electronic advances for employees, employees of the Ministry of Interior and Defense, and retirees, which will be without the condition of the sponsor.

And a statement by the bank stated, yesterday, Monday, that “the advances start from 5 million to 25 million dinars, according to the borrower’s entitlement, which is commensurate with the amount of his total monthly salary.” 

He pointed out that "the advance is guaranteed by the Master Card issued by the Rafidain Bank, without the need for a guarantor's condition."

[yota691]

Al-Rafidain launches a new meal from the predecessors of employees and associates electronically

• Time: 03/28/2023 21:01:24
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• Read: 2,067 times

  

{Economic: Al Furat News} Al-Rafidain Bank announced, on Tuesday evening, the launch of the fifth batch allocated from the advances of employees and employees of the Ministry of Interior and Defense through electronic payment tools.

 

And the bank's media stated, in a statement that {Euphrates News} received a copy of, that: "A third meal was granted to the employees' predecessors and employees of the Ministry of Interior and Defense, which starts from 5 million to 25 million."

He explained, "The disbursement of that advance was done by informing the customer by sending him a text message informing him of granting him the advance, after he completed all the procedures to grant it and disbursed it via the Master Card, to which the financial balance was filled."

Al-Samarf called on the beneficiaries of that advance to "review the bank's branches or exchange outlets to receive the advance," noting that "the bank continues to work on granting new portions of advances in succession and according to the timetables and timings for applicants through the electronic application of Al-Rafidain Bank."

[yota691]

An Iraqi bank launches car purchase advances

2023-03-29 04:13

 

 

Shafaq News/ The Governmental Agricultural Cooperative Bank announced, on Wednesday, the launch of advances for the purchase of cars of all types, production and saloons.

The bank's credit department said in a statement today that the car purchase schedules and specifications approved in granting advances to a number of car companies have been circulated to a number of our operating branches.

 

 

He explained that the branches concerned with this type of loans are (the main branch - the Nasiriyah branch - the Kut branch - the Hilla branch - the Diwaniyah branch).

 

 

[yota691]

International interest in financing small and medium enterprises in Iraq

Economical  2023/03/30

 

 

 Baghdad: Hussein Thaghb Al-Tamimi 

 

The Association of Iraqi Private Banks and the Dutch Spark Organization discussed during a workshop the reality of financing small and medium enterprises, and the mechanisms for providing financing to move the reality of the national economy, in the presence of representatives of government institutions.

 

The representative of the Ministry of Commerce, Muhammad Hanoun, indicated that "the ministry, through the Private Sector support Department, considers it necessary to advance the reality of small and medium enterprises that have created a positive impact in the world's largest economies, and it is possible to benefit from this qualitative and important experience." 

 

Sherwan Anwar Mustafa, a specialist in financial affairs, said: "The financial sector and the Association of Private Banks support the provision of financial financing to small and medium enterprises for their vital role in building the national economy, especially after it has proven successful in the largest global economies," pointing out that "the government-supported SPARK organization The Dutch came to contribute to building local capabilities and reviving this joint the economist". 

 

And he indicated: "The reality of small and medium enterprises in Iraq has witnessed great progress during the past years, as it started with a few projects in Baghdad and the provinces, despite the number of limitations that confuse the reality of work, but the results were encouraging."

 

He added, "The supporting organizations and projects that were funded during the last period can be described as successful and useful, as they continued to build technical capabilities and achieved great growth, but we need to expand this continuous experience to include the largest number of beneficiaries," calling on "international organizations, including Spark, to present support to this 

Industry".

 

He pointed out that "providing loans to Iraqi youth is important to start establishing their own projects through financing from the banking system." 

 

The media spokesman for the Dutch Spark organization, Ali Ali, talked about the access to financing project, in cooperation with the support of the US Agency for Development and the Spark organization, and said: "The goal of the project is access to financing for small and medium enterprises, and we are working to build the capacities of Iraqi banks to facilitate the access of loans to projects to advance the reality of the private sector, At the same time, we effectively train the management of these projects through experts in the employment of loans in order to obtain development loans their orientations.

 

The Executive Director of the Association of Iraqi Private Banks, Ali Tariq, had demanded that these projects contribute strongly to the development of the local economy, pointing out that most of them are complementary to large strategic projects, as is happening in the countries of the developed world, pointing out that "the past ten years witnessed a successful experience in This field has been loaned thousands of projects through the device banker".  

 

He stressed that "the success of the economic experiments adopted by the world's largest economies in Iraq is a step on the road to building an integrated economy, as medium and small projects were adopted as a first step to address the general economic reality and the family economy in particular. This experience, according to those in charge of it and the beneficiaries, was able to achieve success and benefit for the economy." ". 

[yota691]

Clarification from the Rafidain Bank regarding the advance of 25 million dinars

2023.03.31 - 10:28

 

Baghdad - people  

Al-Rafidain Bank stated, on Friday, that the advance of 25 million dinars to employees is guaranteed by the Master Card.  

  

  

And the bank’s media office stated, in a statement that “NAS” received a copy of, (March 31, 2023), that “personal advances to employees, defense and interior employees, and retirees are guaranteed by the Master Card issued by the bank and without a guarantor.”  

  

And the statement added, “The advances start from 5 million to 25 million, according to the borrower’s entitlement, which is commensurate with the amount of his total monthly salary,” noting that “applying for it electronically and through the bank’s electronic application.”

[yota691]

A government bank launches construction loans of 60 million dinars as a maximum

2023-04-04 05:37

 

 

Shafaq News/ The government "Al-Rashid" Bank announced, on Tuesday, that it has granted loans for the purpose of construction amounting to 60 million dinars as a maximum, denying at the same time that it has stopped.

 

The bank said, in a statement received by Shafaq News agency, "The housing loans announced by the bank are available, and those wishing to apply can review the bank's branches in Baghdad and the provinces."

 

He added, "The maximum amount of the loan is 60 million Iraqi dinars, granted to employees without a guarantor, and to citizens with a guarantor of an employee domiciled at Al-Rashid Bank."

[yota691]

The Central Bank sets the ceiling for the amounts allowed to be withdrawn from electronic cards outside Iraq

2023.04.04 - 21:14

 

Baghdad - people   

Today, Tuesday, the Central Bank of Iraq announced measures to prevent currency smuggling, and set the ceiling for the amounts allowed to be withdrawn from electronic cards outside Iraq, and pointed out that the outlets for providing loans for the purchase of housing units are divided into two parts.  

  

  

  

And the Central Bank said in a statement to the official agency, affiliated with “NAS”, (April 4, 2023), that “there is cooperation by the Central Bank with the relevant security authorities to prevent such practices,” noting that “there is a directive for banks regarding determining withdrawals from electronic cards outside Iraq.” At a rate of 250 dollars per day to prevent illicit gain and withdraw the dollar in a way that affects the Iraqi economy.  

  

Regarding the increase in the volume of loans, the bank affirmed that "the housing loan initiative provided to the Housing Fund for the purpose of construction and the Real Estate Bank for the purpose of purchase is still continuing."  

He added, "There is no direction by the bank to stop this initiative, and it continues with its initiative to support the liquidity of the housing sector (the housing fund and the real estate bank) to lend to citizens and employees wishing to buy housing units throughout Iraq."  

He pointed out that "the outlets for providing loans are divided into two types, the first of which is the Housing Fund loans, which are in the amount of (75) million dinars to build housing units with an area of not less than (100) square meters or to add a building in Baghdad and the provincial centers, and loans in the amount of (60) ) One million dinars in the districts of the capital, Baghdad, and (50) million dinars outside the centers of the rest of the governorates, and loans in the amount of (75) million dinars to purchase housing units in investment housing complexes, and the loan will be without interest except for a one-time administrative commission of (5%) of the value of The loan with a repayment period not exceeding (20) years, to facilitate the value of the monthly installment.  

He added, "The other section is represented by real estate bank loans in the amount of (100) million dinars to purchase housing units outside investment housing complexes with an area of no less than (100) square meters. Not exceeding (20) years, and loans in the amount of (125) million dinars to purchase housing units in residential investment complexes, and these loans will be without interest, provided that a one-time administrative commission of (5%) of the loan value is deducted and a repayment period does not exceed (20) year".  

[yota691]

The Central Bank determines the daily withdrawal of 250 dollars from electronic cards outside Iraq

• Time: 04/04/2023 21:20:09
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• Read: 4,953 times

  

{Economic: Al Furat News} The Central Bank of Iraq set the ceiling for the amounts allowed to be withdrawn from electronic cards outside Iraq.

 

And the bank indicated, in a press statement, that "there is a directive for banks regarding limiting withdrawals from electronic cards outside Iraq at a rate of $ 250 per day to prevent illegal gain and withdraw dollars in a way that affects the Iraqi economy."
Regarding the increase in the volume of loans, the bank affirmed that "the housing loan initiative provided to the housing fund for the purpose of construction and the real estate bank for the purpose of purchase is still continuing," adding that "there is no direction by the bank to stop this initiative, and it is continuing its initiative to support the liquidity of the housing sector ( The Housing Fund and the Real Estate Bank) to lend to citizens and employees wishing to purchase housing units throughout Iraq.
The bank pointed out, “The outlets for providing loans are divided into two types, the first of which is housing fund loans, which are an amount of (75) million dinars to build housing units with an area of not less than (100) square meters or to add a building in Baghdad and provincial centers, and loans for an amount of (60) million dinars in the districts of the capital, Baghdad, and (50) million dinars outside the centers of the rest of the governorates, and loans in the amount of (75) million dinars to purchase housing units in investment housing complexes, and the loan will be without interest except for a one-time administrative commission of (5%) of the loan value and a repayment period not exceeding (20) years, to facilitate the value of the monthly installment.
And he noted, "The other section is represented by real estate bank loans in the amount of (100) million dinars to purchase housing units outside investment housing complexes with an area of no less than (100) square meters, and these loans will be with a decreasing annual interest rate of (2%) of the loan value and a repayment period." Not exceeding (20) years, and loans in the amount of (125) million dinars to purchase housing units in residential investment complexes, and these loans will be interest-free, provided that a one-time administrative commission of (5%) is deducted from the loan value and with a repayment period not exceeding (20) year".

[yota691]

Al-Rafidain issues a clarification regarding advances for three categories

2023.04.07 - 11:02

 

Baghdad - people  

On Friday, the Rafidain Bank issued a clarification regarding advances for three categories.  

  

  

And the bank said in a statement, which “NAS” received a copy of, (April 7, 2023), that “the predecessors of employees, employees of the defense and interior, and retirees will be guaranteed by the Master Card issued by the bank and without a guarantor.”  

  

He added, "The advances start from 5 million to 25 million, according to the borrower's entitlement, which is commensurate with the amount of the total monthly salary, indicating: "The application for it is electronic and through the bank's electronic application." 

[yota691]

A new clarification for Al-Rafidain Bank about employee advances without a sponsor

• Time: 04/07/2023 10:43:19
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• Read: 1,742 times

  

{Economic: Al Furat News} Al-Rafidain Bank issued, today, Friday, a new clarification regarding the advances of employees, retirees, and associates.

The bank stated, in a statement received by {Euphrates News}, that "the advances of employees, members of the defense and interior, and retirees, are guaranteed by the Master Card issued by the bank, without a guarantor."

He added, "The advances start from 5 million to 25 million, according to the borrower's maturity, which is commensurate with the amount of his total monthly salary."

And he indicated that "applying for it electronically and through the electronic application of the bank."