What does it mean to settle the salaries of employees in Iraq and how to benefit financially?


I realize this may be a few days old but a few questions arise when talking about Iraq going electronic in regards to salaries and the benefits of. I think this answers a lot of those. If it's already been posted, I apologize. Thanks Julian

Rafidain Bank on Wednesday issued a clarification on the settlement of salaries and unique financial services waiting for employees in Iraq, and how to use it financially.

What does it mean to settle salaries?

Is the process of transferring the salaries of employees in the private or public sector of manual salaries received from their departments until they are received from banks and government or private banks through a special account opened to the employee in the bank and drawn by the electronic payment card or received in cash from the bank.

Al-Rafidain: The employees of the local districts gave us their salaries and loans

Al-Rafidain issues the electronic payment tools to employees of the Awqaf Endowment Department to receive their monthly salaries
Benefit from using the Emiratisation system:

This system began to spread in many countries of the world with the expansion of the business and services of banks and banks and with the increasing volume of electronic transactions and the result of these banks and banks seek to shorten the time and effort and cost in the dealings and transactions of various financial citizens and leave dealing with criticism and risk.

What is the system of localization of salaries:

The system of localization of salaries several advantages of the benefits of financial and service to many of the staff and these benefits vary between banks and others and we will show some of these advantages:

1. Localization will reduce the risk of cash transfer.

2- Each employee who settles his salary shall be given a special salary card through which he can withdraw his salary from various points of sale (ATMs / POS / Internet ...) locally and internationally.

3. The employee shall have full freedom to withdraw, deposit and transfer, at his discretion and at any time.

4. The employee may not have any fees to open an account.

5. The employee's salary may be exempted from the monthly employee's monthly commissions such as (low balance commission / account management).

6 - The employee will receive a symbolic amount for some financial services such as transfer service and salary card (this will be subject to agreement with the salary).

7. The employee may be able to use the salary card for cash withdrawals or purchases.

8. The employee may enjoy free and interest-free electronic banking services.

9 - Salary settlement will provide the employee with a package of products and banking services and facilities on loans.

10 - Helps the employee to save automatically and withdraw the need only.

The Rafidain Bank, on (1 March 2017), the importance of settling the salaries of employees in electronic accounts to give them advances and loans.