Financial and banking services provided to customers in Al-Sanam Islamic Bank branches
Al-Sanam Islamic Bank aims to provide financial and banking services compatible with the provisions of Islamic Sharia to contribute to the development of the national economy to the extent of its available capabilities. For this purpose, the bank shall carry out, for its own account or for the account of others inside and outside Iraq, all known and new aspects of banking activity, and all Islamic banking and investment activities, in a manner that does not conflict with the provisions of Islamic Sharia, international Islamic legal and accounting standards, the applicable law of the Central Bank of Iraq and Islamic banks, and the instructions issued pursuant thereto. . For this purpose, he may practice the following activities
1- The service of opening accounts (current individuals, current companies) and accounts (savings, deposits) electronically.
2- Issuing electronic payment cards of all kinds.
3- Service of issuing checks and savings books.
4- Certified Instruments Service.
5- Transfer service and transfer of amounts between customers within the bank.
6- Issuing bills of exchange service.
7- Outgoing and incoming clearing transfers (CT) service, in addition to real-time gross settlement transfers (RTGS).
8- External transfer service via the SWIFT system through the foreign currency buying and selling window platform affiliated with the Central Bank of Iraq and through the bank’s network of correspondents.
9- Electronic clearing service (ACH) for instruments.
10- Mobile banking service.
11- The service of withdrawing an account statement and confirming the bank account balance to official authorities.
12- Issuing letters of guarantee service.
13- Studying the applications submitted to the bank (Islamic financing) according to the controls of the Central Bank of Iraq, such as (Murabaha, Musharaka, etc.).
14- Salary settlement service for public and private sector employees.
15- Issuing external documentary credits.
16- Preserving and managing valuables, including securities, and providing safekeeping services.
17- Accepting fixed deposits.
