Enhancing Transparency: Rafidain Barcode System for Iraqi and Foreign Company Incorporation Certificates
Rafidain Bank announced, today, Thursday, the adoption of the health of the issuance system via the electronic barcode system for certificates of establishment for Iraqi and foreign companies
The bank's media stated in a statement received by {Al Furat News}, "Based on government directives to simplify procedures and automate data, Rafidain Bank announces the adoption of the issuance health system via the electronic barcode system for certificates of incorporation for Iraqi and foreign companies, in addition to working on the search, investigation and inquiry system via OFAC lists and lists affiliated with the Committee for Freezing Terrorist Funds (local and international)."
He added: "The aim of these procedures followed by the bank is to inquire and verify companies that have indicators of sanctions and bans, whether local or international, so the bank follows due diligence procedures to audit in accordance with Anti-Money Laundering and Terrorism Financing Law No. 39 of 2015 and take the necessary precautionary measures."
The bank confirms that the advantage of the barcode system lies in linking the bank and its branches to the ministry’s departments and cancelling the paper certificate verification process and transferring it electronically, saving time and speeding up the completion of transactions without resorting to the previous routine cycles. link
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