Trade Bank of Iraq announces increase its appropriation by 8% for the first quarter of last year

Tuesday April 24, 2012

Sumerian News / Baghdad 
announced the Trade Bank of Iraq, Tuesday, for recording an increase of 8% Batmadath for the first quarter of last year, when he said that he re-structured to develop the nature of his work, he denied allegations some government employees and the presence of obstacles in completing their transactions. The Director-General Agency and Chairman of the Board of Directors Hamdiya Mahmoud dry in a statement issued today, and received “Alsumaria News”, a copy of it, “The Trade Bank of Iraq issued during the first quarter of this year, 333 dependent, and Bokiem exceeded three and a half billion dollars, registering an increase of% 8 of the first quarter of last year. ” and confirmed dry that “Okiem credits issued by the bank since its inception in 2003 until now surpassed $ 50 billion,” pointing out that “the issuance of such a level of Okiem of appropriations can not be achieved in the presence of obstacles in functioning of the banking process. ” The Dry “The bank completed the advanced stages of re-structure to develop and update his work in general,” indicating that “the development work of the bank denies the claims by some of the staff of government departments, there are some obstacles in the completion of their transactions, including for issuing credits documentary. ” and called dry both face any obstacles in completing the issuance of credits or any other transaction of public or private, to the “Review of Public Administration of the bank to prove his claim, so that the bank take action and simultaneously.” The Inspector General at the Ministry of Industry Salem Paul pointed out earlier that there were some complications in the procedures for the issuance of credit by Bank of Iraq trade. announced Bank of Iraq Commercial (February 20, 2012), for release more of 610 credit in favor of the ministries of the Iraqi state and the financial value of more than $ 13 billion during the year 2011, denying at the same time there are no complications in the conduct of these funds. is a Trade Bank of Iraq bank Iraqi government was established in July of 2003, with a capital of $ 100 million and has been raising capital from profits accumulated in 2008 to half a trillion dinars In the intention of raising capital trillion Iraqi dinars. had already suffered TBI to the problems led to the escape of former boss Hussein Azri, who has relevance President National Congress of Ahmad Chalabi, as previously Prime Minister Nuri al-Maliki, to announce the second of September 2011 the past, that the Council of Ministers as directly responsible for the commercial bank, decided to form an investigative committee shared the Integrity Commission and the Office of Financial Supervision and the Ministry of Finance and experts, as reported on the existence of irregularities in the bank, and the report was transmitted to the judicial authorities responsible for its consideration. The director of the Commercial Bank of Iraq Hussein Azri , arrived in Beirut on the fourth of June 2011 the past on the run from Iraq on the back charge the bank’s board of corruption by Prime Minister Nuri al-Maliki, while the response close to the bank that the matter falls within the liquidation of political, carried the Integrity Commission Parliamentary government responsible for flight Azri outside the country, and said it repeatedly stressed not to allow any official travel only after approval. It is noteworthy that the Iraqi banks have not kept pace with developments in the work of international banks, has been linked through the use of telephones and fax machines, and did not enter the Internet only after 2004, and The Ministry of to finance the development of banks associated with them through introduction of modern techniques and to link global banks automatically, to facilitate the transmission of funds to and from Iraq.