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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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    Cihan Bank.. Various services and a great contribution to the banking sector

    Rocky
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    Cihan Bank.. Various services and a great contribution to the banking sector Empty Cihan Bank.. Various services and a great contribution to the banking sector

    Post by Rocky Mon 23 Jan 2023, 4:56 am

    Cihan Bank.. Various services and a great contribution to the banking sector

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    President of Cihan Bank Ahmed Abdel-Khalek



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    Economy News-Baghdad
    Banks of all kinds represent important pillars for the development of the wheel of economy and development in Iraq by engaging in various economic, financial and banking activities and services that serve the citizen and the state in general. Al-Iraqiya held a dialogue with the head of the bank, Ahmed Abdel-Khaleq, to ​​talk about the bank's strategy and vision in promoting financial inclusion in Iraq and the types of services it provides to customers.
    When was the bank established and what are its strategic objectives?
    Cihan Bank for Islamic Investment and Finance was established in February 2008 in accordance with the Iraqi Companies Law No. 1997-21 and its amendments for the year 2004, as the bank opened on 4/1/2009 at its headquarters in Erbil.
    Cihan Bank is a complete Islamic bank listed on the regular market of the Iraq Stock Exchange (ISX) since 2017 under the abbreviated name (BCIH) and the company code in the international agency ISIN (IQ000A2DN949) and is subject to the disclosure standards of the Iraqi Securities Commission (ISC) and the Iraq Stock Exchange, It offers a wide range of Islamic banking products and services. We strive to provide the best and unique banking services and develop them in accordance with the principles of Islamic Sharia to our customers from government institutions to companies and individuals in the new Iraq, including the provinces in the Kurdistan region.
    The bank aims to be distinguished among our customers, counterparts and strategic partners by adding the value of creativity and innovation, by following the core values ​​which are integrity and transparency and applying the highest levels of professional ethics as a company and as individuals. Contribute to the adoption of community initiatives within the dimensions of sustainability and adherence to the principles and instructions of Corporate Governance.
    The bank works to achieve a set of strategic objectives, which are represented in providing innovative financial solutions that are compatible with the provisions of Islamic Sharia, preparing leaders and specialized cadres in the Islamic banking industry, improving the level of institutional performance within the application of the principles of corporate governance, horizontal and vertical expansion of services and products to achieve growth, financial strength and investment in technology. Which would reduce operational risks and work to implement the best international rules and practices in banking business (Best Practices).
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    What are the bank's measures to increase financial inclusion in Iraq?
     - The bank intends, through the products it offers, to include all groups and spectrums of society, regardless of gender and creed, through its branches spread in most of the governorates and regions of Iraq, as the bank works to localize the salaries of workers in the public and private sectors and benefit from multiple banking services .
    The bank has issued credit cards of all types and denominations, credit, debit and prepaid, and the bank is in the process of launching a loyalty campaign for customers to enhance the concept of financial inclusion so that the customer benefits from incentive prizes through his use of bank cards to encourage him to use them and dispense with direct cash.
    Soon, the electronic Murabaha card will be issued, which is considered a Murabaha financing available to the customer to use it at any time and anywhere and to pay it in installments according to the customer’s desire and commensurate with his monthly income.
    The bank has also completed the procedures for the bargaining product by installments at the cash price to provide the opportunity for customers to purchase their needs in installments at the cash price, as the bank has adopted financing medium and small projects to include the youth group in the implementation of their commercial, industrial and professional projects.
    The bank provided electronic services through its exchange spread in the governorates of Iraq, through the bank’s application on the phone, and through the brown internet, which includes many services in a modern and modern manner. Through the call center, the bank’s customers are contacted and introduced to them with the services provided by the bank.
    How does the bank contribute to moving the banking and economic wheel in Iraq:
    - The bank distributes the available cash resources to the best uses for the purposes of economic and social development, and the bank deals with participation as it is more able to accumulate investable cash balances and distribute financial resources on the basis of productivity and economic efficiency, which directly contributes to the distribution of strong income in a manner fair during the development process.
    The bank encourages positive behavior that drives the development process through concessional financing and the payment mechanism, and seeks to expand the base of beneficiaries of the products offered by the bank, financing productive projects to increase the national gross domestic product, financing small and medium projects to reduce unemployment and facilitating import operations through a network of correspondent banks and through Documentary credits with self-financing and Murabaha.
     The bank employs social networking pages such as Facebook, Instagram, and Linkedin to announce banking services, their importance, and advantages. It aims to spread the banking culture, in addition to participating in local exhibitions that are held in the governorates of Iraq to introduce banks and the services they provide.
    What is the size of accounts opened to deposit citizens' money in the bank?
    The number of open and active accounts with our bank has exceeded (60) thousand accounts, and it is constantly increasing. The bank’s most prominent priorities in the next stage are to maintain financing windows until recovery for the economic sectors and move towards a green economy in terms of financing projects based on renewable energy and promoting inclusion. Financial, which includes (banking culture - microfinance - electronic payment - consumer protection and the focus of financing small and medium enterprises - and data and research)
    The bank aims to expand digitization operations and the rapid developments accompanying them, and adhere to the Sharia frameworks for the banking sector in order to combat money laundering and terrorist financing. Outside it, knowing that the bank’s cadres are considered one of the most important investments of banks, and the bank also works to increase the number of customers with deposits and credit of all kinds to maximize the bank’s profitability and bring the bank to the best ranking among local banks.
    What types of banking services does the bank provide to customers?
    - The bank offers many banking services, including: account opening services, including current accounts for commercial purposes, current accounts for salary settlement purposes, and investment savings accounts, as well as cash credit services, including Murabaha financing for the purchase of goods, products, machinery, construction and industrial equipment, vehicles and transportation And cars, furniture, and project requirements of all kinds, such as factories, clinics, laboratories, craft workshops, etc., and financing leases ending with ownership of apartments, houses, lands, and commercial projects.
     Likewise, leasing products described as a liability for renting benefits and services have recently been launched, and they include: a Labbaik product for Hajj and Umrah, a Shifa product for the purposes of financing the costs of treatment and surgical operations, and a product Iqraa for the purposes of financing study costs in all its stages from school to postgraduate studies in addition to professional courses, as well as financing credits Murabaha documents for import purposes from abroad, Murabaha transfers also for import purposes, and credit cards, in addition to a good loan for special cases.
    The bank has also adopted the initiatives of the Central Bank to produce pledge credit services, including: self-financing documentary credits, local and foreign letters of guarantee, local and foreign outgoing and incoming transfers, issuance of bills of exchange, as well as other services provided by the bank, including the issuance of check books to customers and the exchange of checks drawn on Our bank and local banks through the clearing system, salary settlement services and call center service to respond to customer inquiries and respond to customer inquiries regarding Sharia fatwas for Islamic banking products through the Sharia board of the bank.
    The bank also offers a set of electronic and technological services to its customers, including mobile banking and the Internet, which includes the following services: transfer between customer accounts and accounts of customers of the same bank, request account statements, make fixed orders, submit a credit card request, manage beneficiary services, balance inquiry, checkbook request, and Recharge the mobile with the balance.
    The bank provides ATM services, including: cash withdrawal, account statement request, balance inquiry, electronic payment cards of all types and categories, cash withdrawal, local and international purchases, and purchases through the Internet. 

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    Added 01/23/2023 - 12:41 PM
    Updated 01/23/2023 - 1:54 PM


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