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Variation in deductions from employee salaries
Economical 2023/02/23
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Samawah: Nafeh Al-Naji
Walid was surprised while withdrawing his salary from one of the automatic teller machines (ATMs) of one of the banks where his salary was settled, with a deduction that exceeded ten thousand dinars, an amount comparable to his annual bonus from the ministry in which he works.
When Walid carried the printed paper receipt, and went to the accounts officer inside the bank to ask him about the reason for this deduction, which he found large compared to his salary, the employee replied that the deduction commission is fundamental and legal, and that this (deduction) along with commissions for other operations, finances the commercial activities of this bank and covers the salaries of workers And maintenance and the like, and because the customer has settled his salary on another bank, he does not have the advantage of free cash withdrawals from electronic machines for customers who settled their salaries on this bank’s branch.This is not the only deduction from the salary, as there are several other deductions. When the salary is consolidated to his Ministry of Finance and the amount arrives in his account, (2000) dinars are deducted per month for each salary, and there is an annual deduction of about ten thousand dinars under the section of electronic maintenance, and other amounts with His request for any endorsement or a printed copy of the movement of his financial account (Statement) for any purpose he needs, and there are known benefits that may reach 7-8 percent when he borrows any personal loan, and so on.
Hussein Al-Awadi, a banker in a government bank, tells Al-Sabah: “Commissions and deductions differ between government and private banks, despite all of them being subject to the instructions and laws of the Central Bank, for example interest on loans. The bank credit card (Visa or Master Card), in the event that it expires, is lost or damaged, differs from one bank to another. And close to this opinion, citizen Uday Abdul-Hadi said: "Several years ago, there were problems with some customers of private banks when some of them went bankrupt, as happened with (Al-Warka) Bank, so the citizen is more reassured about government banks than others at the present time." that "Private banks have modernized their work mechanisms, reduced some of the routine episodes, and kept pace with the Central Bank's initiatives with the aim of attracting citizens and diversifying banking operations that were monopolized by government banks until recently.
However, Abd al-Hadi believes that "there is a wide gap between our banking sector and other countries in terms of modernization and smooth procedures, as Iraqi banks are still far behind their counterparts in neighboring countries or in the region," and they also charge commissions that he considers (very high), according to his description.
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