The certificate of deposit product is considered one of the distinguished products in the banking sector as it is characterized by clarity, ease and inclusion. The certificate of deposit is a security that is issued at nominal value in exchange for cash customers’ deposits, and it is issued with different values and varying terms (short and medium term), and is non-refundable. Our bank provides a certificate of deposit with the following characteristics:
IQD 1,000,000 (one million Iraqi dinars)
Issuance Domination
One year after the date of issuance
Maturity Date
existing clients or new potential clients
Types of deposits for certificate of deposit financing
7.5% Annually
The interest rate on certificate of deposit
not possible
Certificate of Deposit liquidation
not possible
Partial liquidation of the certificate of deposit
* Granting the client’s Certificates of Deposit amount do not exceed 1 billion, in case they did, an approval from the Head of Retail is required.