Director of Rafidain Bank: Chapter VII and foreign debt handcuffed the Bank’s work with international counterparts

On: Saturday 19/05/2012 9:45

Baghdad (news) .. The Director of Rafidain Bank Zia Alckheon, that the continued survival of Iraq under Chapter VII and the accumulation of financial debt foreign restricted participation of the bank with global banks, pointing to the existence of post and a single bank with a group of Arab Banks French amount of shareholder (30) million dollars. 
said Alckheon (of the Agency news) said on Saturday: All the posts of Foreign Affairs of the Rafidain Bank is almost over, except to participate only with a group of Arab banks of France in Paris, the contribution of (30) million dollars, pointing to the existence of other participating with Bank of Africa, but shares a financial low. He explained: that the posts of Foreign Affairs Banks Iraqi government, especially the Rafidain Bank with international banks is restricted because the survival of Iraq under Chapter VII and the accumulation of debts of Foreign Affairs and the demand by some countries their debts and Taweidadtha Finance from Iraq. He Alckheon to: that the Rafidain Bank has a meaningful contribution within the country and in all areas and sectors, both tourist and business, engineering, construction and advances personal and other, in addition to the presence of overseas branches of the bank are distributed in the states (Bahrain, UAE, Egypt, Jordan and Yemen) also has contributions and investments there. The Rafidain Bank, a bank, the Iraqi government, which was founded in Baghdad in 1941, the first Iraqi bank commercial and has a (146) branches inside Iraq, and some other branches abroad in Jordan, Egypt and United Arab Emirates, Lebanon, Bahrain and Yemen. and founded the Rafidain Bank in accordance with Law No. (33) for the year 1941 and started operations in 1941 with a paid up capital of (50) thousand dinars, and Over the bank several stages during his career history was first his presence as the first national bank shall exercise banking business between many foreign banks, and began the gradual expansion in Iraq, and then has gone through integration of multiple began in 1964, including commercial banks that were operating in Iraq, where it was in 1974 consolidated with Rafidain Bank, which became a commercial bank only in Iraq, where he continued working alone in the field of banking until 1988, which saw the establishment of a government bank is another Rasheed Bank, which began its branches of the Rafidain Bank, which moved its business to him, and the number of bank branches is (147) branches in Iraq in addition to (8) branches in the sawmill in some Arab cities, namely: Cairo, Beirut, Abu Dhabi, Manama. / Finished / 8. d. Q /