Rafidain Bank: Interest Rates on Saving Accounts Reduced
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Rafidain Bank: Interest Rates on Saving Accounts Reduced
Shilo Mon Feb 08, 2010 5:26 pm
February 8, 2010 · Posted in NEWS
Monday, February 8th 2010 4:04 PM
Baghdad, Feb. 8 (AKnews)- Director-General of Rafidain Bank Abdul-Hussein al-Yasiri has said today that the bank intends to reduce the interest on saving accounts deposited in its branches in all Iraqi provinces.
“The bank’s profit is the difference between the interest rate and the interests deducted from the customers’ accounts”, Yasiri stated to the Independent National News Agency of Kurdistan (AKnews).
He said that “Profits will be granted from the interest rate: instead of giving the customer an annual interest up to 10%, he will be given a 7% benefit, and a 3% rate will be deducted as profits for the bank.”
“The bank will start the distribution of salaries to employees of ministries and government institutions, using the “Smart Card” technology as of March next ,and this is the third phase carried out in this project after the inclusion of retired employees and people covered by social security in the past few months.”
Aa/Nn (AKnews)
http://www.aknews.com/en/aknews/2/112342/
Monday, February 8th 2010 4:04 PM
Baghdad, Feb. 8 (AKnews)- Director-General of Rafidain Bank Abdul-Hussein al-Yasiri has said today that the bank intends to reduce the interest on saving accounts deposited in its branches in all Iraqi provinces.
“The bank’s profit is the difference between the interest rate and the interests deducted from the customers’ accounts”, Yasiri stated to the Independent National News Agency of Kurdistan (AKnews).
He said that “Profits will be granted from the interest rate: instead of giving the customer an annual interest up to 10%, he will be given a 7% benefit, and a 3% rate will be deducted as profits for the bank.”
“The bank will start the distribution of salaries to employees of ministries and government institutions, using the “Smart Card” technology as of March next ,and this is the third phase carried out in this project after the inclusion of retired employees and people covered by social security in the past few months.”
Aa/Nn (AKnews)
http://www.aknews.com/en/aknews/2/112342/
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