Baghdad: Parliament Speaker Haibat Al-Halbousi engaged in a comprehensive discussion about the operational mechanisms of the “Qi Card” company and its banking service delivery processes with Ammar Subhi, Head of the Federal Board of Supreme Audit, and Abdul-Hassan Jamal, Head of the National Pension Commission.

According to National Iraqi News Agency, the meeting, held on Thursday, also included Iman Adnan Saad, Deputy Director General of Rafidain Bank. The discussions focused on the “Qi Card” company, which is contracted with Rafidain Bank, covering the nature of the services it provides and the mechanisms for delivering these banking services. A key focus was on evaluating the company’s adherence to contractual obligations as well as compliance with applicable government regulations and guidelines.

The Parliament Speaker raised several inquiries with the relevant officials about the company’s operations. These inquiries covered the mechanisms for granting banking advances, financing investments, the volume of financing provided, beneficiary sectors and segments, and the financial returns generated from these activities.

Further clarifications were sought regarding the guarantees agreed upon between Al-Rafidain Bank, the company, and the beneficiary sectors. Discussions included the contractual and financial obligations and guarantees that are incumbent upon the parties involved, as well as the mechanisms in place for safeguarding the bank’s rights and protecting public funds. Additionally, the identification of the sectors benefiting from the financing and banking facilities, along with the volume of funding allocated to each sector, was addressed.

The Speaker emphasized the necessity of providing accurate and transparent data and information on these issues to ensure the integrity of financial and contractual procedures. He stressed the importance of protecting public funds and delivering optimal services to citizens in compliance with the relevant laws and regulations.