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Al-Rasheed Bank reduces the interest on the advances of retirees to 4%
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Al-Rasheed Bank announced, on Thursday, that it will reduce the interest rate on advances granted to retirees to 4% and to Nakheel card holders.
"The bank decided to reduce the interest rate on advances granted to retirees to 4% for Master Card holders," Nakheel, the bank’s media office said in a statement.
He explained that "the bank has previously reviewed all instructions related to advances and loans granted to employees, retirees and citizens."
He added, "Work is underway to implement the electronic system for granting advances to retirees, which will be implemented in the coming days after the experience of the predecessor of the security ministries' employees.
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