Departments
Risk Management Department
Legal Compliance and Compliance Control Division
Money Laundering and Terrorist Financing Reporting Section
Internal Legal Control and Audit Department
Human Resources Department
Treasury and Investment Department
Central Operations Department
Legal Department
Financial Department
Credit Department
Information Security Department
Information Technology
Risk Management Department
RiskManagementDepartmentisoneofthemoderndepartments,anditisanindependentdepartmentinthebanklinkedtotheBoardofDirectors.Itmeansstudyingthepotentialrisksofvariousactivitiesthatmaybeexposedtorisks,forexample,liquidityrisks,exchangeratefluctuations,creditrisks,legalrisks,inadditiontomarketrisksandreputationalrisks…etc.Theimportanceofriskmanagementliesinunderstandingthevariouspositiveandnegativeaspectsofallbankservicesthatmayaffecttheinstitutionthroughperiodicreviewofpoliciesandprocedures,follow-upandworktoamendthemwhenevernecessaryinlinewiththeactivityandworkofthebankanditsacceptanceofrisks.Thishelpstoincreasetheprobabilityofsuccessinachievingthebank’sgoalsandreducetheriskoffailure.Oneofthemostimportanttasksofthissectionistoidentifytherisksresultingfromtheuseoffinancialinstrumentsandnewactivitiesbeforedealingwiththemandthelimitsofthoserisks.Italsospreadsculturalawarenessofrisksamongtheworkteamthroughthetrainingcoursesitorganizes.Thereis a riskadvisorycommitteefromtheadvancedteaminthebankthatstudiestheproposalsandrecommendationssubmittedbytheRiskManagementDepartment.Thereisalsoa riskcommitteeoftheBoardofDirectorsformedby a numberofmembersoftheBoardofDirectors.ItisanindependentcommitteelinkedtotheBoardofDirectors,whichinturnsupervisesthiscommitteeandchecksthetreatmentofexistingrisksandensuresthatstresstestsareconductedperiodicallytomeasurethebank’sabilitytowithstandshocksandfacehighrisksanddiscussTheresultsofthetestsandtheadoptionofactionstobetakenbasedontheseresults.
Legal Compliance and Compliance Control Division
Thissectionundertakesthetaskofreviewing,followingupandevaluatingallpolicies,proceduresanddecisionsissuedbytheseniormanagementregardingthevariousactivitiesofthebank,andindicatingtheirconsistencyandcompatibilitywiththelaws,regulations,andinstructionsinforce,themostimportantofwhicharethelawsandinstructionsoftheCentralBankofIraqandtheCompaniesLaw.Thissectionisconcernedwithensuringcompliancewiththerulesofconduct,standardsandsoundbankingpracticesissuedbytherelevantauthorities,andavoidingmistakesandviolations,incooperationandcoordinationwithallbankbranchesandrelevantdepartments,andtheestablishmentofeducationalandtrainingcoursesforthispurpose.Aswellaslayingtheorganizationalfoundationsandexecutivemechanismsnecessarytomonitortheworkandactivitiesofthebankandallitsorganizationalunitstoprotectthebankfromtherisksofnon-compliance,byensuringthatthebank,itsinternalpoliciesandexecutiveprocedurescomplywithallrequirementsoflaws,regulations,instructions,standardsandsoundbankingpracticesissuedbytheCentralBankofIraqandlocalandinternationalbodiesofhistory.workinginbanking.
Money Laundering and Terrorist Financing Reporting Section
ThisdepartmentplaysanimportantandprominentroleinsupportingthebankandstrengtheningitscapabilitiesinimplementingtheeffectiveAnti-MoneyLaunderingandTerroristFinancingLawNo. 39of2015asitperformsitsvariousauditing,oversightanddirectiveactivitiesthroughauditing,reviewingandfollowingupontheworkofthebank’sbranchesanddepartmentsandinfullcompliancewiththeanti-moneylaunderingandterroristfinancinglaw,instructionsandcontrolsissuedpursuantthereto,includingperiodicandcontinuousauditingofallactivitiesandreportsrelatedtowithdrawalanddepositoperations.Andirregularities,especiallywithregardtothesourcesoffunds.Italsohasasupportiverolefortheworkofthebankinallitsbranchesbyorganizingtrainingcoursesforthemtostrengthentheirskillsinimplementingandimplementingmoneylaunderingandterroristfinancinginstructions.
Internal Legal Control and Audit Department
Thisdepartmentworksdiligentlyandcontinuouslyinordertoachievethehighestlevelofoversightandauditaccordingtothelatestinternationalsystemsandmechanismsthatarealwaysupdated.TheinternalShariaauditisaprocessofobjectiveindependentexaminationoftheextentofthebank’scommitmenttotheprinciplesandprovisionsofShariaandthedecisionsandfatwasoftheShariahSupervisoryBoardintheexerciseofallitsactivities.Theinternalprocedure,whereacomprehensiveplanforauditingandreviewisdeveloped,includingaunitoftimemeasurementwithspecificcompletionstages,anditisupdatedannually.ItmustbebasedonfieldobservationandbeapprovedbytheheadoftheShariahSupervisoryBoardandtheChairmanoftheBank’sBoardofDirectors.Informationrelatedtotheactivitythatwillbemonitorediscollected,suchasThisincludesproducts,services,branchesanddepartments,determiningtheobjectiveoftheinternalShariahcontrolandthescopeofitswork,obtainingfatwas,instructionsandinstructionsoftheinternalexternalShariahsupervisoryboardforthepreviousyear,andrelatedcorrespondence,includingcorrespondencewiththesupervisoryandsupervisoryauthorities,anddeterminingthenecessaryresourcestoaccomplishtheinternalShariahcontrolandcommunicationwithinthebankwithallIndividualswhoneedtoknowthedutiesofShariasupervisionandconductingasurveyoftheareasthatshouldbefocusedonintheinternalShariahcontrol,accordingtowhatisappropriate,withtheaimofidentifyingtheactivities,risks,andcontrolcontrols,andinvitingtheentitiesthatarebeingmonitoredtosubmittheircommentsandsuggestions.
Human Resources Department
Thehumanresourcesdepartmentisthemainpillarinthebank,anditbearsamajorroleinimplementingandimplementingthepoliciesandstrategiesoftheboardofdirectorsandseniormanagementinrelationtothemanagementofthehumanelement,whichisthebank’scapital,whichisthemostvaluableresourceofthebankandmainlyaffectstheachievementofthebank’sgoals,efficiencyandproductivity.
WheretheHumanResourcesDepartmentworkstoimplementallactivitiesrelatedtohumanresourcesbysettingplansandpoliciesthatareconsistentwiththestrategicdirectionsofthebankandtoensuretheefficiencyandeffectivenessofhumanresourcesproceduressuchasrecruitment,training,salariesandincentivesandperformanceevaluation–careerpathplanning–applicationofinternalpoliciesandemployeerelationsandcompliancewithlawsthejob.
TreasuryandInvestmentDepartment
This section constitutes an important role in the bank’s work through managing liquidity and employing it to serve the bank’s interest by providing the required balances for the purpose of covering internal and external transfers and documentary credits, providing the required liquidity in order to invest the excess liquidity, following up the balances of branches, including ATMs, and following up on foreign exchange rates in an appropriate manner. Daily and provide the relevant departments.
InvestingthesurplusamountsinaccordancewiththeapprovedIslamicbankinglawsinvariousfieldstosupportthebankingworkandstrengthenthebank’sactivity.Theinvestmentpolicyofthebankaimstodefinethegeneralframeworkandthebasicprinciplesadoptedinmanagingthebank’sinvestmentsinmoneymarkettoolsandthecapitalmarketinforeigncurrenciesandtheIraqidinar.
CentralOperationsDepartment
Wherethissectionaloneincludescredits,remittances,instantpayments,andSwift.AlloftheseunitsworkwiththeirfulltechnicalandhumancapabilitiestoprovidecomforttoinvestorsathomeandabroadthroughanetworkoffinancialservicestotransfermoneyinsideandoutsideIraqwithanetworkofsoberglobalbanksthatplacestheNasikIslamicBankforInvestmentandFinanceamongtheforefrontofbanksWhichprovidesthehighestlevelofcomfort,confidence,speedandaccuracytoitsvaluedcustomers.
LegalDepartment
A group of skilled legal professionals who have gained experience in banking work. Their role is to look into all the contracts that the bank intends to sign, as well as to ensure that all the bank’s contracts are in line with the laws of the Central Bank on the one hand and protect the bank on the other hand, as well as representing the bank before external and internal parties. The most important thing that distinguishes the staff of this department is that they always think outside the box in order to find solutions and the purpose of which is to serve the bank’s customers, who are the most valuable possessions of the bank, relying on Iraqi law and the law of Iraqi Islamic banks to achieve the highest level of business quality.
Financial Department
The financial department is considered one of the important departments in the bank, as it submits financial statements and final accounts and the accompanying specialized financial statements and reports, provided that it conforms to Islamic and international accounting standards and according to the laws, regulations and instructions in force from the Central Bank of Iraq and works on managing internal and external accounts through the network of precise systems Which works on preparing reports, statistics and financial movements inside and outside the bank with customers and companies.
Credit Department
It is one of the most important strategic departments that work to provide various Islamic credit services such as (Profit, Speculation, Sharing, Leasing, as well as letters of guarantee). All of these services are provided in a modern technical manner according to the latest software and within Islamic frameworks and under the supervision of the Shari’a Supervisory Board. Shari’a standards
have been approved by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI)).
The Bank seeks to provide services and consultancy for economic projects and to support and study projects submitted by individuals within a diversified plan that applies the policy of financial inclusion and according to the laws, instructions and directives of the Central Bank of Iraq.
Information Security Department
It is considered one of the new emerging departments, which was developed under the direct guidance of the Central Bank of Iraq, and that our bank is one of the banks that is keen to implement global security standards for the governance of information security, cybersecurity and the integrity of its data according to modern frameworks approved by the Central Bank of Iraq and subject to the oversight of an accredited international observer.
The Bank seeks to provide services and consultancy for economic projects and to support and study projects submitted by individuals within a diversified plan that applies the policy of financial inclusion and according to the laws, instructions and directives of the Central Bank of Iraq.
Information Technology
Information technology is considered today the key to the success of any institution’s work. In the world of finance, information technology plays an important role in the success or failure of any institution and is the backbone of the bank’s work. The bank has invested all efforts and human energies to build a sophisticated and modern technological infrastructure and the best licensed electronic systems that aim at automating banking operations. One of the finest international origins at Al-Nasik Bank is an information technology infrastructure with high specifications and characterized by high capacity and speed. The bank also works on an integrated banking system that serves the needs of customers and according to their requirements, we have a high-quality data center that includes 44 servers working 24/7, high-quality monitoring systems and monitoring by dedicated security agencies, in addition to VDI technology and high-quality protection systems that protect Servers and the network completely and more than one level as well as users’ devices and control over all the operations that the user performs.
