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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    What does lifting the United Nations sanctions against Al-Rasheed Bank mean? .. Aqeel Al-Ansari

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    What does lifting the United Nations sanctions against Al-Rasheed Bank mean? .. Aqeel Al-Ansari Empty What does lifting the United Nations sanctions against Al-Rasheed Bank mean? .. Aqeel Al-Ansari

    Post by Rocky Sat 25 Jun 2022, 5:28 am


    [size=30]What does lifting the United Nations sanctions against Al-Rasheed Bank mean? .. Aqeel Al-Ansari

    2022-06-25
    [/size]
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    Aqeel Al-Ansari wrote:

    Lifting the sanctions on Rashid Bank by the United Nations and the British government!
    In fact, it is good news, but what does this mean for the Iraqi banking sector in general, or for the rational bank?
     
    Nothing, the bank is missing the most important real infrastructure, if it is simply like the ATM or real banking services and products and the application of the financial inclusion instructions adopted by the Iraqi banking sector!
    Sanctions did not prevent them from working in local markets and developing banking products!
    Sanctions did not prevent them from developing the skills of their working cadres!
    Sanctions did not prevent them from building a vision and establishing strategic planning to develop themselves.
    Sanctions did not prevent them from participating in the development of the banking sector to benefit the Iraqi economy.
    Bureaucracy is the basis for the work of Al-Rasheed Bank and government banks, and their distance from local competition in the first place.
    This is because there is no need for competition because government deposits and government lending are the main work.
    Yes, the economic sanctions have affected foreign transactions, but there is no real impact on work and the provision of better services and products in the Iraqi market!
    I understand the emotional relationship between the Iraqi citizen and the brand of Al-Rasheed Bank, which has been stuck in the memory of generations for many years. But it does more harm than good, as I said earlier.
    In my personal opinion, the solution is to restructure Al-Rasheed Bank and cross into a bridge bank and establish a new bank that will be a real nucleus for banking work that seeks to develop the Iraqi economy.
    It is built on scientific foundations and modern technology with a clear vision of the bank and a real strategic plan after organizing the ownership of the bank to be in the way of shares and put on the Iraqi market for securities like most banks in the world!
    Of course, this proposal does not affect the employees of government banks, but the opposite will expand the work of the bank and need to hire and appoint more.
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