Trade Bank of Iraq announced the launch of a certificate of deposit product (deserve)

03/15/2017 (00:01 pm)

Baghdad / term

Announced TBI management (TBI), on Tuesday announced the launch of a certificate of deposit product under the name (deserve) of $ (500,000 dinars), and confirmed the presence of monthly prizes and annual value similar to participate in the product.

The bank manager Faisal Alheims, in a press conference held at the Hunting Club in central Baghdad, and attended (range): approval of the Central Bank of Iraq, called the Iraqi bank certificate of deposit (deserve), a $ 500 thousand dinars for the deposit of one , "noting that" the objective of the the idea is to encourage people to deposit their money in banks and re - bridges of trust they have, and consolidate the values of credibility, integrity and quality. "

He continued Alheims, that" there are strategies developed for the success of a certificate (deserve), to maintain the integrity of any breaches or fraud, where he was working on locked measures her like watermarks on the Iraqi currency , "adding that" the interest of the contest is to encourage people to enter into the world of investment and protect their money from being stolen. "

He pointed Alheims to, that" the trade Bank of Iraq, offered up to now (2195) certificate, in cities across the country , "noting that" the bank is prizes monthly and annual value, up monthly award (10 million dinars), while the prize up an annual half to (40 million dinars), while the annual award of up to (100 million dinars Iraqis) , "pointing out that" the drawing is on 4 April next year, according to the serial number of the certificate. "

The Iraqi Bank of Commerce director, said : "bank work on the localization of transactions electronically, while adhering to the directives of the central government and the Central Bank in particular , " noting that " the bank so far, salaries of the staff provides 16 official institution through the mail route, and we are because there will be a quantum leap in the work the bank. "

For its part , stressed the director of Retail Banking in the Trade Bank of Iraq, a good firm, said : "Our goal of this product, is to encourage the filing process within the banks, in order that the individual works and practiced his dealings through banking outlets , " indicating that " the deposit mechanism for the product (deserve) to highlight the official archives or a unified national card, with the amount of the deposit (500,000 dinars) to get a certificate of deposit , "noting that" the product will be withdrawn from a centralized ".

In turn, he indicated the central bank adviser Walid Idi, "there is a legal basis for a certificate of deposit , " noting that "this is the first initiative in Iraq, launched by the Trade Bank of Iraq, through the establishment of a deposit guarantee and protect the funds of citizens in the company."

He revealed Idi, about the intention of the central bank "raise the liquidity ratio to create competition between different banks, which will positively to the banking sector in the country , " noting that " the percentage of customer with the banks of the citizens of 12% of the total 23 million Iraqi citizens, according to statistics of the Ministry planning. "

He announced the central bank adviser, for " the establishment of the joint bank lending, and participated in the fund each of the bank trade and Mesopotamia , " pointing to "the existence of other initiatives for the development of the financial market."