The Banking Awareness represents the first defense line against any attempt to inflict any circumvention by hackers and scammers. Therefore; PIB works on printing out brochures on Banking Awareness in order to guarantee the most extreme security standards to protect the rights and money of our customers and to give them the ability of implementing all their transactions and banking operations in an extreme safe flexible way, to build a good credit record.

The Credit Record:

It is the record where all the individuals’ financial transactions with different sides like banks and banking institutions are being recorded, in order to provide at the final stages some indicators which help the bank in decision making regarding approval or rejection of the individual’s application for loans in the future.

Advantages of a good Credit Record:

The good credit record reflects positively on the loan applier, helping decision makers in loans and facilities to increase the limit of credit or to decrease the interest rates, or even in easing the requirements needed for crediting. All the mentioned can be done if the customer has a clean and good credit record; while the opposite occurs to those with an inappropriate credit record.

How to guarantee a good credit record?

• You can guarantee that; by full commitment of paying the dues in time. Therefore; planning for the amount of payments according to the size of income and the urgent circumstances that can face you in the future and during the loan’s period.
• By not returning check due to insufficient funds. You must be fully aware of the dates and amounts of check issued by you; and make sure to secure the required funds in the designated dates.
• By keeping the limit of your credit cards not high; so that you won’t fall in temptations leading you to pay back dues that do not fit with your net income.
• Don’t let your self have many credit cards; to avoid disruptions in payments.
• Let your good credit record last for more time to give the bank a better vision.
• Check your credit record once a year at least to discover the problems and missing dues which were not paid in time.

Banking Fraud

How to avoid the Bank Fraud actions?

• It is extremely important to keep the confidentiality of your banking and personal details; and not to tolerate about revealing those details, keep it personal.
• Avoid signing any incomplete documents and always keep a copy of any contract signed by you.
• Inspect the information received in the statements your receive from the bank such as the account number, the amounts, currency, date of transaction and due dates, and always keep the receipts of deposits and withdrawals.
• Don’t deal with any unlicensed side in any financial or banking deals.
• Limit the use of the credit card through internet as possible; especially through unrecognized websites.
• Learn more about the charges and costs of banking services in prior to using it.
• Keep in contact with the bank and apply for bank statement at least once every 6 months.

Saving and investment of money in a right way:

• It is good to have your saving account; much better to keep saving continuously. It is an easy step to save up to 5% of your monthly income.
• It is also wonderful to invest your money in projects which can generate good benefits, but make sure to study the type of investment you are willing to have. If you have the capital but not the sufficient and feasible study for any project; it is better to invest your money in banks on the form of deposit account or smart deposits; where you get financial income in return. The smart deposit at PIB is the smartest way to invest your money; and even lets you receive your interest in advance for the period you’re intending to deposit for, knowing that the minimum rate for opening a smart deposit account is $5000 or equivalents in other currencies.
• It is worthwhile to have your investment project idea which is well studies and planned for, but you might not have the sufficient fund for financing it. Therefore; it is also worthwhile to get loans from the bank; whereas PIB afford to you the possibility of financing your project after submitting your project plan and an income proof, so that you can move forward in achieving your ambitions and gain benefits of your project.