Rafidain Bank in the process of increasing the size of the foreign banking
Rafidain Bank in the process of increasing the size of the foreign banking
14/03/2015
BAGHDAD / JD / .. Rafidain Bank announced it is seeking hard to open up the banking cooperation with other banks in the Arab and global levels.
The general director of the bank on behalf of Kamal al-Hassani said in a statement / BD / received a copy of it: that the bank plans to open horizons of cooperation through the establishment of a banking relationship with the Arab States and the world aimed at increasing the volume of foreign banking transactions through opening letters of credit and the issuance of letters of guarantee and an investment and foreign remittance operations .
He stressed that the bank seeks to achieve further supporting the national economy achievements and keep up with the conclusion reached by the developed world in the banking systems.
The Rafidain Bank was established by Law No. (33) for the year 1941 and started operations in 1941 with a paid-up capital of 50 000 Iraqi dinars.
Over the bank several stages during his historic first represented his presence as the first national bank practiced commercial banking among many foreign banks.
And began the gradual expansion within Iraq then has gone through multiple integration began in 1964, included the commercial banks that were operating in Iraq, where he was in 1974, consolidated with the Rafidain Bank, which became the only commercial bank in Iraq.
In 1998, the bank saw a new development is its transformation into a public company wholly owned by the state in accordance with the provisions of the Public Companies Law No. (22) of 97 in order to contribute to the national economy in the field of commercial banking and investment funds and to provide funding for the various sectors in accordance with the development plans in the framework of economic and financial policies and cash for the state.
The number of bank branches currently 147 branches in Iraq, in addition to (8) branches in a sawmill in some Arab cities, namely: Cairo, Beirut, Abu Dhabi, Bahrain. / End / 22 /
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