Economy News – Baghdad
Rafidain Bank Director Ali Karim Hussein Al-Fatlawi confirmed on Thursday the introduction of many products and services that are compatible with economic development, while pointing to a movement to implement a strategic vision aimed at enhancing the banking experience and expanding the customer base.
The General Manager of Rafidain Bank, Ali Karim Hussein Al-Fatlawi, said in an interview with Al-Shabaka Magazine, which was followed by “Al-Eqtisad News”, that “Rafidain Bank is one of the main pillars in providing services to citizens and introducing modern technologies in line with international systems, in addition to adopting the comprehensive banking system to keep pace with the advanced information technology revolution in international banks in the confidentiality of completing transactions and simplifying procedures, away from bureaucracy and routine in work.”
He explained that “the bank has succeeded in offering many banking products and services to customers in a manner that is consistent with and in harmony with the economic development in the country, including:
– Opening savings and current accounts.
– Accepting all types of fixed deposits.
– Financing loans for investment projects.
– Granting loans of all kinds.
– Personal advances.
– Issuing letters of guarantee.
– Opening documentary credits.
– Internal and external transfers.
– Certified instruments.
– Localization of salaries.
– Electronic card for employees and citizens.
– Paying salaries to employees and retirees.
He pointed out that “the bank has recently witnessed a tremendous transformation in the way it deals with customers, banking operations, and commitment to innovation and continuous improvement,” noting that “the achievements made came as a result of the bank’s commitment to excellence in providing financial services and effective contribution to supporting the local economy and enhancing economic growth.”
Regarding future plans, Al-Fatlawi stated that “the bank intends to work on implementing an innovative strategic vision aimed at enhancing the banking experience and expanding the customer base. This in turn reflects the bank’s commitment to providing high-quality and innovative banking services that meet the aspirations of its customers.”
He added, “The bank has implemented, within the framework of the process of stimulating the economy and the labor market, many financing projects for a wide range of development and commercial projects in Iraq, which contributed to enhancing the country’s economic growth, in addition to providing the necessary financing for small and medium enterprises, which reflects its commitment to enhancing the spirit of leadership and innovation.”
He added, “All the bank’s departments are committed to social responsibility, through a variety of initiatives and programs, in which Rafidain Bank has contributed to enhancing the welfare of society,” noting that “the bank has been able to bring about a huge digital transformation in its operations, which has led to a significant improvement in the customer experience and scientific efficiency.”
He pointed out that “the main tasks carried out by the bank come within the government program and with direct support from Prime Minister Mohammed Shia Al-Sudani,” stressing that “the tasks included:
– Responding to the requirements of the Central Bank of Iraq regarding financial inclusion and payment systems.
– Complying with the credit inquiry system and uploading data to the Central Bank of Iraq’s platform.
– Implementing the ticking system for the purpose of providing support and assistance services to users of electronic payment systems.
– Uploading money laundering data to the Anti-Money Laundering Office platform Go Aml
– Working on the legal reserve platform
– Implementing the electronic inquiries system CAR, provided by the Central Bank of Iraq, for inquiries about customers’ financial obligations (individuals-companies).
He stressed that “Rafidain Bank has demonstrated a strong commitment to ethical and legal standards, which has given confidence to customers and investors alike,” noting that “the bank follows strict policies to prevent money laundering and terrorist financing, and to comply with local and international standards.”
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