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Saleh: Partnership with the financial sector is promoting the national economy

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Saleh: Partnership with the financial sector is promoting the national economy

30/8/2018 12:00 am
Baghdad / Al-Sabah

The partnership represents an important step towards the advancement of the national economy.

The partnership between Rafidain Bank and KI, which represents the mixed sector, has produced positive results that support the national economy and the family economy through advanced products that provide credit to the public in all regions of Iraq.

Financial Advisor to the Prime Minister Dr. The appearance of Mohammed Saleh said: "The banking sector is in the transition to real banking services and provide credit (loans) with the safety of banking services."

Banking Industry

He added that "the evolution of payments enhances economic activity and creates stability in the overall operations, especially as the banking industry in part began to develop to benefit the customers through the settlement of salaries."

Saleh praised the "partnership between Rafidain Bank and KI, where the first represents the public sector and the second and the mixed sector, and what is important here are the results, and we can point to the positive results of such a national partnership that strengthens the money market with new products that harmonize and the need of the family economy and move to a better stage by adopting advanced technology National economy".

Keep abreast of developments

He pointed to "the importance of supporting the partnership that keeps pace with global developments, at a time when Iraq is going to win the tendencies of classified global companies, which require a sophisticated payment system."

"Local companies that adopt technology and expand financial coverage will provide services to all community streams and provide real support to the family economy," Saleh said.

A real step

The Wissam Mohammed of the Rafidain Bank has confirmed to the "morning" on the sidelines of the opening of the Takatuf initiative that "the partnership initiative represents a real step to move towards electronic services and leave paperwork, where we work to achieve integration leading to a distinctive service to reach the citizens throughout Iraq without trouble, As is the case in the countries of the developed world."

He added that this step comes to catch up with the global developments in the field of payments and development, and we can provide the best services that support the economy of the Iraqi family and the national economy, and the bank is offering its products electronically and provides loans to various categories of beneficiaries that carry electronic payment cards.

Positive results

"The partnership between the public and private sectors around the world has proved its existence after it has achieved positive results for all concerned parties, institutions and beneficiaries, especially after the adoption of advanced technology, which saved time and effort," he said.

The partnership between the Rafidain Bank and the smart card company "Key Card" to change the reality of payments in Iraq for more than a segment within Iraqi society, and in front of the segment of retirees, who reached 4 million beneficiaries, all of them are facing great challenges in obtaining their financial benefits.

New technologies

"The partnership, which came with new technologies for the reality of payments, has provided a great effort and time for the beneficiary segments, and the access to financial dues is easier than before and more guarantee, and the partnership ring has entered a new direction by providing loans to categories of beneficiaries of smart card services, Sophisticated methods do not burden the burden of the beneficiary, and this experience made for the first time in Iraq."

It is noteworthy that more than (125) thousand people carry an electronic card represents the product of the partnership between Rafidain Bank and the company received loans of different value and high interest and without guarantor guarantor and away from the complexities that accompany the lending operations in general, the total amount of about 400 billion dinars, Loans by 40 percent in Baghdad, 28 percent in the Middle Euphrates and 23 percent in the south, as well as 9 percent for holders of the company card of the residents of Kurdistan region, as the statistics of the partnership proved that the total number of cards issued reached (352) thousand cards this year, Admission to these cards reached (14800) points, at When the number of points of acceptance of MasterCard (12) thousand points.

Enter the merchants category

He explained that "the developments in the provision of services and the provision of guarantees and streamlined performance lead to enter the category of traders to our family and the monthly trade enrollment rate is estimated at 150 traders per month, and the numbers are increasing to benefit from the services provided to traders who have movements Financial and continuous amounts of large and need mechanisms of flexible, fast and secure."

The number of card holders of the electronic company, which number 7 million beneficiaries, and the effective of which (5) million cards from different segments of society, and most of them get the service (financial dues) from the nearest port or branch of the company, which encouraged everyone to follow up The new project is a new service for the citizen."


"The rapid response and harmony between the company's teams and the bank has helped greatly in the process of developing the performance of human resources, which is able to adopt the latest systems adopted, and contributed to the development of the company's plans to adopt the best electronic technologies in the world, and overall This positive cooperation achieves the highest level of benefit for all concerned with this important joint, and thus the role of partnership is positive for the economy of Iraq and the family alike."

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