Al-Rasheed grants 7% for fixed deposits

Shafaq News/ Al-Rasheed Bank announced on Tuesday granting 7% interest to fixed deposits.

The bank's media office said in a statement received by Shafaq News agency, "the specified period for these deposits is two and a half years."

"citizens, individuals, companies, associations and other sectors can open the deposit mentioned above accounts and obtain interest at our bank branches spread in the governorates of Iraq," it added.

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.