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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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    Al-Rafidain launches electronic submission of advances to employees and retirees

    Rocky
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    • Post n°1

    Al-Rafidain launches electronic submission of advances to employees and retirees Empty Al-Rafidain launches electronic submission of advances to employees and retirees

    Post by Rocky Wed Mar 08, 2023 7:08 am

    Al-Rafidain launches electronic submission of advances to employees and retirees

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    Economy News _ Baghdad
    Today, Wednesday, the Rafidain Bank announced the launch of the electronic application for advances for employees and retirees.
    The bank stated, in a statement received by "Al-Iqtisad News", that "in line with the government's directions in activating electronic automation and moving from paper work to electronic in providing banking services to customers, the bank launched the electronic submission of advances to employees and retirees via the electronic card."
    And he stressed during the statement that "applying for advances is by entering the application of the Al-Rafidian Bank electronically on mobile devices, or reviewing one of the bank's branches to apply electronically for the advance."
    He pointed out that "the amount of the advance starts from 5 million to 25 million."
    This procedure comes within the plan drawn up by the bank’s management to contribute to simplifying procedures and overcoming routine obstacles that would impede the completion of transactions, eliminating bureaucracy, nepotism, forgery, manipulation, corruption, shortening time, blocking the way for the weak-minded, and bypassing excessive administrative circles, which contributes to improving the level of services and mitigating on the shoulders of customers and complete their transactions as quickly as possible.

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    Added 03/08/2023 - 8:32 AM
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    Rocky
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    • Post n°2

    Al-Rafidain launches electronic submission of advances to employees and retirees Empty Al-Rafidain publishes instructions for electronic advances

    Post by Rocky Wed Mar 08, 2023 7:51 am

    Al-Rafidain publishes instructions for electronic advances
    • Time: 03/08/2023 09:29:17
       
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    {Economic: Al Furat News} Al-Rafidain Bank announced instructions for granting electronic advances, for the purpose of improving the provision of the best services to employees of state departments (permanent staffing), contracts, employees of the Ministries of Defense and Interior, and retirees.
    And the bank decided, in a statement that {Euphrates News} received a copy of, “to grant the advances with the guarantee of the Master Card card and without a guarantor, according to the controls: 1- The advance is
    submitted according to the customer’s desire through the following 
    : 2- The branches  stopped
    receiving and promoting 
    manual grant transactions for those covered by the above advance, as the request for the advance will be raised on the borrower’s card by the General Administration 3- It is required for the loan applicant
    to have a service of not less than one year with regard to employees of state departments and employees of the Ministries of Defense and the Interior whose salaries are residing with the bank.
    4- The amount of the advance is from 5 million dinars to 25 million dinars, according to the borrower’s entitlement, which is commensurate with the amount of his total monthly salary and with the guarantee of the Master Card issued by Al-Rafidain Bank. 
    5- For employees of the Ministries of Defense and Interior, officers of the rank of lieutenant and higher who are not nationals, their salaries were not granted to them with a Master Card, so the previous instructions related to granting advances apply to them, and they start from 5 million dinars up to 25 million. 
    6- As for the retirees, it includes the original retiree exclusively, provided that his age does not exceed 73 years and that he does not exceed the specified insurance age. 
    7- It is required that the deduction amount (installment and interest) not exceed the total salary in the borrower’s card.
    8- The term of the loan shall be 5 years at the rate of 60 months, and it shall be repaid in equal monthly installments.
    9- The interest rate of the advance is 5 percent annually, calculated using the straight-line method. The installments start to be deducted from the salary of the month following the grant date.
    10- Not granting the borrowed employee a clearance in the event that he is referred to retirement, and the following mechanism is followed:
    - The remainder of the electronic loan is paid from the end-of-service reward and accumulated leaves after submitting a written undertaking approved by the legal department to commit to payment upon completion of the retirement transaction 
    - in the event If he is not entitled to the end of service reward, the deduction of the electronic advance will be transferred to the pension salary 
    - in the event that the amount of the advance payment is transferred to the pension salary, the period for completing the pension transaction for the retiree is not considered a period of delay
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