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Al Rasheed Bank grants special interest for fixed deposits

Al-Rasheed Bank announced, on Tuesday, that it will grant interest at a rate of (7%) to fixed deposits.

The media office said in a statement received by “Al-Eqtisad News”, that “the specified period for these deposits is two and a half years.”

He added that “citizens, individuals, companies, associations and other sectors can open the aforementioned deposit accounts and obtain interest at our bank branches located in the governorates of Iraq.”

Governmental banks seek to invest the hoarded money with citizens, which, according to the Central Bank, is estimated at more than 77% of the money circulating in the market. Source