Speech of Director General and Chairman
Rasheed Bank continues occupying the first competitive rank at the Iraqi banking market and realizes growth in various business aspects. Total of its balance sheet increased to ID (17 718) billion in 2011 with an increase of (26%) compared to that of 2010. It achieved profits of (44%). Cash credit also rose of (28%) ... read more
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BA'SHIQA INAUGURATE RASHEED BANK BRANCH Within Rasheed Bank expansive policy
ON-SIGHT TOUR OF NAJAF, KERBALA'Investment projects in Iraq have occupied a space within Rasheed Bank's priorities, the Bank DG Mr. Kadhim M. Nashoor affirmed during his on-sight tour of Najaf and Kerbala' Governorates; accompanied by a delegation of officers of the Bank Head Office …. Read more
SILVER JUBILEE: 25 YEARS OF CONSTANT SUCCESS, DOMESTIC, OVERSEES EXPANSION, FIRST-TIME PRODUCTS IN IRAQ
RASHEED BANK DG VISIT TO MOF EMPLOYEE HOUSING COMPOUND
Construction and Reconstruction Campaign the country is witnessing is included in Rasheed Bank projects. MOF Housin Compound located in Baghdad, Niariya wa Gaiyara Area, is one of the housing compounds the Bank has contributed in part of its expenses. In a tour Rasheed Bank DG. Mr. Kadhim M. Nashoor made to the compound location, which is implemented by New Life Investment Co.; he has met the company authorized manager …. Read more
FINANCING FARMERS, PEASANTS BY MURABAHA
Rasheed Bank is continuing its method of financing all sectors to develop economy, including agricultural sector by financing farmers and peasants by Murabaha method through its Islamic window represented by its Islamic Usool Branch, for the sake of purchasing agricultural machines and tractors.
Islamic Banking philosophy is application of Islamic Sharia in financial and banking transactions that creates a close link between religion and banking business; as it does not deal with taking or giving interest…. Click here for more.
ANNOUNCEMENTS FOR NATIVES AND EMPLOYEES
ANNOUNCEMENT FOR OWNERS OF AUTOMOBILE COMPANIES AND AGENCIES
Rasheed Bank invites all automobile companies to submit to its General Administration, Credit Dept. their applications attached with documents of company establishment, as the Bank is loaning Iraqi natives contracted with it to purchase productive machines and vehicles (1-ton and 2-ton pick-up, lorry, bus, tractor, reaper, bulldozer…. etc.) included in having numbered plate from Traffic Authority, in addition to regular cars for special needs (for the disabled). Thus, qualified companies (as to their capitals, audited balance sheet of the last two years, similar business, managements resident in Iraq and other commitments) will be adapted according to the applied regulations and instructions; provided that applications are submitted beginning from that date and based on instructions nr. 30025 ….. Click here.
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.
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:
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.
Rasheed bank \ General Administration \ Al-Rasheed Quarter \Area no. 110\St. no. 25
P.O. 53926 - Bab Al-Mua'dham post office - Baghdad - Iraq
Phone : 8188921 - 8177976
Complaints numbers: Public Relation division 07902259094\8186776 Internal control division:8184248