ECONOMIC FORUM MINIUTES

Under auspices of His Excellency Prime Minister, Mr. Noori Al-Maliki, and His Excellency Governor of the Central Bank of Iraq, Mr. Abdul-Basit Turky Saied, Baghdad Economic and Banking Forum was held at Palestine International Hotel for 11-12.Jan.2013. It was attended by many officials of participant Arab Banks and Rasheed Bank, represented by Mr. Kadhim M. Nashoor, DG & Chairman of the Bank, many private banks and Iraqi and Arab read and viewed media…..(more)

Forum photos. Click here

SIGNING MOU WITH PAKISTAN MCB

A delegation of Rasheed Bank headed by Mr. Kadhim M. Nashoor, the DG; visited Pakistan to meet a number of commercial and Islamic banks to exchange expertise and visions of banking business. During the visit a memorandum of understanding was signed with Muslim Commercial Bank regarding organization of banking foreign transactions, such as letters of credit, letters of guarantee and money transfers. Our Bank established relations with a number of other banks.

CONFERENCE MINUITES

Rasheed Bank Periodical Annual Conference was held on 11.Nov.2012 at Sheraton Hotel – Tamooz Room under auspices of His Excellency Minister of Finance, Dr. Rafi Al-Easawi. The Conference was attended by Mr. Laith Qadoori, Ministry of Finance's General Inspector, Mr. Shakir Azzamili, Baghdad Investment Commossion Chief and DG Assistants, department heads, branch managers and a huge number of representatives of newspapers, news agencies and satellite channels….(more)

Conference photos. Click here

NOTE

Rasheed Bank notifies natives not to deal with private offices and companies of selling automobiles by installments. Employee loan requests are submitted through their ministries and natives' requests exclusively through governorates' councils, federations and unions. Please, be notified.

GREETINGS

On the occasion of Christmas, Rasheed Bank would like to convey good wishes and greetings to all our Christian brothers and bank employee, praying God the Mighty to grant them safety, peace and fulfillment of wishes.

Rasheed Bank DG Inspection Visit to Financial and Accounting Training Center

Under an invitation from Mr. A'tif Abdul-Khaliq, DG of the Financial and Accounting Training Center; Rasheed Bank DG, Mr. Kadhim M. Nashoor visited the Center and met its DG and a number of its officials. The Bank DG was enlightened on training and study rooms equipped with computers and communications, scientific and professional departments of the Center and banks' continuous needs to train and qualify banking employees. Rasheed Bank DG expressed his pleasure with finishing the Center's new building and good organization of study rooms and labs.

Rasheed Bank Inaugurate New Branch at BIF

Mr. Kadhim M. Nashoor DG of Rasheed Bank, in presence of Mr. Sadiq Husain Sultan, DG of State Company of Fairs and Commercial Services, inaugurated a new branch of the Bank at Baghdad International Fair; that comes within the strategic policy of the Bank to provide best services for the broadest section of the society of all its categories and sectors plus increasing its market share to serve commercial and investment companies, especially because of the development of Iraqi fairs' trends of  attracting Arab and world companies to serve infrastructure of Iraq.

LOANS, MICRO LOANS FOR LAWYERS

Rasheed Bank has determined to include all lawyer members at the Bar in the instructions of making car loans, micro loans and the ID. 5-million loan. Making those loans will be done according to the instructions set by Rasheed Bank's Administration. Mr. Kadhim M. Nashoor indicated that including lawyers in car loans will be made under the Bank General Administration approval on the agreement made between the Bar and a company specialized in trading and manufacturing cars. On the other hand, Mr. Nashoor has disclaimed the allegations of some media on including lawyers in the 100-salary loan, as this loan is dedicated for state permanent employees' housing and it is suspended currently.

LOANS TO PURCHASE PRIVATE, TAXI, PRODUCTIVE, INDUSTRIAL, AGRICULTURAL VEHICLES FOR EMPLOYEES, NATIVES

Rasheed Bank set instructions of making loans to state permanent employees and natives for purchasing private, taxi, productive, collective-transportation, agricultural and industrial vehicles. Rasheed Bank DG has indicated that loan amount is ID. (17 million) under a guarantee from a guarantor who is a state permanent employee, instructions were issued, ministries were divided under mutual agreement with Rafidain Bank and institutions under our bank's division were addressed. As to natives, they should submit applications through governorates' councils.

INCLUDING MISSING EMPLOYEES IN INDIVIDUAL LOANS

Rasheed Bank has decided to include missing permanent state employees in the ID. (5-million) individual loans, following their fellow employees still in service. The Bank's instructions issued on 29.Jul.2012 included cashing loan amount to the mandatory trustee (father/ true grandfather) if he is a bachelor or to the custodian or the guardian by appointment under a guardianship or custody deed, taking into consideration having a confirmation letter from the missing employee's office in addition to a governmental guarantor.

Rasheed Bank calls on natives to deposit their cash savings in the investment accounts of special profitability according to Islamic Sharia' at the Bank's branches:
1- Baghdad / Islamic Osool Main Branch / Wathba, near Hafidh Al-Qadhi Square.
2- Basrah / Faraheedi Branch / El-Seef, near Basrah Great Mosque.
3- Najaf Ashraf / Salam Branch / Ameer Quarter, Sadrain Square.
Also by intermediary of all Rasheed Bank branches.
For inquiry, call the following numbers:
07814731341
07903467919

We would like to confirm that Rasheed Bank instructions state on that applications of employees and natives to have loans to purchase vehicles to be submitted through ministries, governorates' councils and local federations established under law, but not through any other party or private companies.

LENDING BANK EMPLOYEES TO PURCGASE VEHICLES

Seeking at increasing productive investment, the Bank decided to make loans to its good customers of banking facilities or loans documented with real-estate collateral to purchase modern productive vehicles from the State Company of Cars and Machinery or from other companies. The amount of loan to be defined depending on vehicle value has the purchaser paid its customs duties. A yearly interest rate of 9% was defined, provided that the vehicle model is modern (2009 and on) and it is  registered at the Traffic Authority.

MICRO LOANS FOR FEDERATIONS AND UNIONS ESTABLISHED UNDER LAW

Seeking at contribution in reviving national economy, Rasheed Bank decided to include federations and unions, established under law, in micro loans to enable willing members to establish their own business offices; provided that the member has a business license and a lease with individual guarantee by a state permanent employee.

ANNOUNCEMENT TO NATIVES APPLICANTS OF LOANS

To applicant state employees

Our instructions informed to your institutions prevent referring personally to the Bank's General Administration.
We hope you commit to these instructions for your and public interests.
 As approvals are finished they will be sent to the branches, which will contact your institutions to define dates of reference to them to cash amounts of loans.