Rafidain Bank raises “ATM” and calls for companies and individuals to be used in the process of trading funds

Rafidain Bank raises “ATM” and calls for companies and individuals to be used in the process of trading funds

07/09/2014 (00:01 pm)

Rafidain Bank raises ATM and calls for companies and individuals to be used in the process of trading fundsBAGHDAD / Ibrahim Ibrahim

Experts called economy government and private banks to enter the modern banking services to the Iraqi market because of its positive impact on the movement of daily trading for individuals and companies, stressing that take Rafidain Bank ATM instead of the usual daily funds is a step in the right direction in the field of banking business.

The economist said the appearance of Mohammed Saleh in an interview for the “long”, “The ATM is part of the evolution of the payments system in the economically developed world for nearly 40 years.”
He added that “the provision of such advanced technology facilitates economic operations of deposit and withdrawal of citizens without the need to exchange cash, which depletes the manual time and effort in addition to other financial costs.”
He explained that “the Iraqi economy is too late to ask sophisticated means for the exchange of financial operations for nearly two decades because of political and security conditions of confusing experienced by making its financial system depends on the transactions that have become classics affect on the business side with the countries of the world.”
He said the “modus operandi of the ATM include a system known as the” National divider “who is working on linking all national banks inside Iraq, including providing a simple trader to withdraw or deposit from anywhere in the country and any government bank was or my family.”
He stressed that “there is a package of banking and financial services offered by most banks discreet in some neighboring countries and the Iraqi banks to take advantage of these services and put it in the Iraqi market for Asny citizen to deal with every day.”
He pointed out that “the services provided by this system include the withdrawal and deposit amounts and change the account and transfer money from one account to another within a few seconds and is so specific to deduct wages from the balance of the customer.”
In turn, said economic expert Mohamed Hammad al-Ani, in an interview for the “long”, that “the Iraqi economy, especially the banking system lacks the financial services that provide customers with deposit withdrawals, shopping and mail rampant in most neighboring countries.” He added that “some timid steps by the Rafidain Bank, which does not exceed provide ATM service in turn open the Iraqi market is witnessing a significant and substantial financial trading hundreds of millions of dollars, which is the difference between the market movement backward and services.”
He explained that “the evolution of e-service banks in the world have contributed to the saving of many financial transactions such as shopping through e-cards and transfer or withdraw amounts large and small in addition to a range of Rataat multi-task and use Kalchrin card.”
He said “these services boil down a lot of steps required by the routine operations of the old currency trading and other paperwork in addition to the provision of funds disbursed within the effective transmission of funds from one account to another.”
He called Rafidain Bank shopkeepers and markets to review for ATM, while stressing that the launch of the project by mail service shopping card ironing Card is one of the achievements in the field of financial credit and cash banking business in Iraq.
The general director of Rafidain Bank on behalf of Kamal al-Hassani said in a statement received “long” version of it, that this card provides customers shopping at markets through their use by the ATM, which contains the balance of financial and allows the holder to drag them at any time and anywhere he pleases.
Hassani explained that the features of this service that departs holder for dealing amounts of cash “Cache” in addition to the possibility of their use in many areas of daily life.
He called general manager of the bank owners of shops, markets and malls to submit their applications at the nearest bank tributaries for this service. The Rafidain Bank has announced his quest to pay the salaries of retirees living outside Iraq, e-cards, while setting up a mechanism for detecting includes restructuring and rid the budget of the previous debt.
The general director of the bank on behalf of Kamal al-Hassani in an earlier statement, the Rafidain Bank, and through his tireless efforts seeking to achieve pay the salaries of residents outside Iraq electronic card, which guarantees them easier to use the card from any ATM of any bank outside of return.
He pointed out that Rafidain Bank put a specific mechanism includes restructuring and rid the budget of the previous debt settlement, where it was nearly 90% of which is made visible to the budget of the bank.
It is noted that Rafidain Bank was established under Law No. (33) for the year 1941 and started operations in 1941 with a paid up capital of 50 000 dinars.
Bank passed through several stages during his historic first was his presence as the first national bank commercial banking is practiced among many foreign banks.
And began the gradual expansion within Iraq then has gone through the integration of multiple began in 1964 and included commercial banks that were operating in Iraq, where they were in 1974 consolidated with the Rafidain Bank, which became the only commercial bank in Iraq.
In 1998, the bank has witnessed a new development is its transformation into a public company owned by the state is fully in accordance with the provisions of the Companies Law No. (22) for 97 years in order to contribute to the national economy in the area of ‚Äč‚Äčcommercial banking and investment funds, and to provide funding for various sectors in accordance with the development plans in the framework of economic and financial policies and cash for the state.
The number of branches of the bank are currently 147 branches in Iraq, in addition to (8) branches in a sawmill in some Arab cities namely, Cairo, Beirut, Abu Dhabi, Bahrain.