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IMF calls for the privatization of Rafidain Bank and Rasheed
16/9/2017
BAGHDAD / Press tomorrow:
revealed a government source said on Saturday, on the request of the International Monetary Fund and the privatization of the government banking sector.
The source said , "Tomorrow Press" that " the International Monetary Fund showed significant observations about the Rafidain and Rasheed banking business , and their inability to invest money compacta have."
"The upcoming talks between the Iraqi government delegation and the International Monetary Fund will focus on the possibility of reducing operating expenses and work on the Rafidain Bank and Rasheed privatization as an initial step for the recovery and development of the banking system in Iraq."
The Union of Arab Banks announced earlier, that the Rafidain Bank deposits amounting to 30.9 trillion dinars, and profit over the past year amounted to 192 billion dinars.
The Union of Arab Banks said in a report published on the Rafidain Bank, said that the Rafidain Bank deposits amounting to 30.9 trillion dinars of cash and assets 12.3 trillion dinars and investments 4.8 trillion dinars, noting that the paid - up capital of the bank 126 billion dinars and reserves 107 billion dinars.
He added that the bank 's revenues over the last year amounted to 715 billion dinars and expenses of 522 billion dinars, indicating that the net profit of 192 billion dinars.
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