Al-Rashid directs its branches to open documentary credits for companies

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Al-Rashid directs its branches to open documentary credits for companies

Post  Admin on Mon Apr 03, 2017 8:22 pm





Al-Rasheed Bank, on Monday, opened its branches by opening letters of credit to companies from the public and private sectors, indicating that the amounts of appropriations are transferred at the official rate specified by the Central Bank.

The director general of the bank Rashad Khudair Wahid said in a statement received "economy News", "The bank directed its branches deployed in Baghdad and the provinces to open documentary credits to companies in the public and private sectors," noting that "the process is the most effective way to settle international sales."


"The documentary credits will ensure the seller obtains the price of the goods and the buyer to receive it and through correspondent banks of the bank abroad and according to the controls," adding that "the amounts of appropriations are transferred at the official rate specified by the Central Bank of Iraq."



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