Iraqi National Bank opens first place in Iraq to manage cash

17/07/2019

(Independent) .. The Iraqi National Bank announced the opening of the first cash management center of its kind in Iraq and located in the branch of the main bank in Baghdad.

The bank said in a statement on the occasion of the official opening of the center: "This center provides a unique infrastructure to automate the private logistics operations after counting the money to save time and reduce the risks of financial movements through the adoption of sophisticated counting devices and a mechanism of action to provide a secure environment for financial transactions while ensuring the provision of another The world-class technology adopted in the field of financial services.

He added that the center is an incubator for the latest cash counting machines that work in a precise and effective manner and provides a varied sorting of currencies very quickly, with the introduction of a new link technology for banknotes to prevent their damage according to the latest international standards. A specialized team with cash counting to reduce customer waiting time and speed up procedures in a remarkable way The Center also ensures full insurance of all amounts by the major insurance companies in addition to strict compliance with the regulations and policies of the Central Bank of Iraq.

The bank's managing director, Ayman Abu Dheim, said: "The bank always strives to be a pioneer in providing the best and latest integrated banking services to our clients from all sectors to meet all their requirements and help them to advance their business.

He added: "The launch of this center is the first of its kind in Iraq to ensure our customers services very accurate, fast and safe.

The Center provides distinguished customers with a cash monitoring experience through live screens, cash counting operations within the VIP Lounge, in addition to providing for the first time accepting cash withdrawals from large amounts and from any cash category, from Saturday to Thursday, in addition to deposits and withdrawals during working hours From 8:00 am to 5:00 pm with counting and deposit in the accounts directly on the same day if received before 3 pm.

The center is characterized by doubling the bank's productivity in cash management by achieving a greater volume of deposits and withdrawals by raising the rate of banknotes that can be received at the bank from 250 thousand coins per day to one million notes a day, four times the Bank's previous absorption.

Since the beginning of the operation of the Monetary Department in mid-May, 11 million banknotes have been deposited in the equivalent of 110 billion Iraqi dinars and at the rate of 400 thousand sheets of cash per day and increasing continuously.

The National Bank of Iraq was established in 1995 and provides comprehensive banking services to individuals and companies in Iraq.

In 2005, Capital Bank of Jordan purchased the majority of the Bank's shares and joined it with Capital Bank Group, through which the Bank provides investment advisory services to companies through Capital Investments, the investment and advisory arm of Capital Bank Group in Jordan and the Dubai International Financial Center (DIFC).

Today, the bank has 11 in Iraq's major cities and will be upgraded to 14 branches by the end of this year.




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