Rafidain Bank has announced the financing of a number of large investments in service projects. These projects include Metro Baghdad amounted at 5 trillion Iraqi dinars. The Bank also announced a number of major laboratories in the country in collaboration with government banks under the supervision of Iraqi Central Bank. The director of Rafidain Bank, Khawla Talib Al-Asadi issued a press statement that the Central Bank of Iraq has adopted a project in providing offers by all government banks. The Bank is offering Iraqi trade and other projects to finance in major and important sectors in Baghdad and the provinces. The most important investment projects include the Baghdad Metro project and its suspension and the revival and development of cement plants.
Each bank to finance a project of these projects and after completion is transferred to one of the investors as an investment opportunity. It was also said that the bank will finance the Baghdad Metro project and the train suspended through the Central Bank. The Bank is serious regarding implementing this project and it was agreed to start a month ago. Al-Asadi also stressed that the activities of the bank aren’t limited to allowing advances to employees and citizens, but the circumstances in which the country is forced to adopt it. The bank has 9204 employees and their salary is fixed. The entire bank expenses will be collected as an activity.
The real work of the banks is to provide facilities and support investment projects that started to work on electrical architecture Ktmoelh plant worth $400 million, a number of recreational sites of water malls, residential complexes, plant brick in Arbil, and laboratories across the country. Al-Asadi announced the objective to adopt the bank building a number of schools in Baghdad and the provinces according to the plan of the Iraqi Ministry of Education. 5 schools will be constructed in each province to own the name of Rafidain Bank. The Iraqi Ministry of Education will pay the amount in the form of annual rent. The bank is in the process of obtaining approvals from the Iraqi Ministry of Finance regarding the project.