Central Bank: slow computational procedures to the observer behind the non-return of the Warka Bank to work

Central Bank: slow computational procedures to the observer behind the non-return of the Warka Bank to work
Date: Thursday, 06.14.2012 7:58

Baghdad (news) .. The Central Bank of the slow action of the observer arithmetic in charge of inventory and control of the assets of the Warka Bank for the lack of return to work at the moment.
Deputy Governor of the Central Bank of the appearance of Mohammed Saleh in a statement (of the Agency news): The Warka Bank is one of the banks civil exposed to the problem of liquidity and wealth Alrismalah Bank have fallen so and under the Banking Act No. 94 of 2004 and the Central Bank Act, that is the central bank the right to custody of the Bank in this case. He added that guardianship means the creation of an interim administration until the evaluation of the bank and find out and put it Alrismala. He Saleh: to raise the guardianship or continuation depends on what is available from the assets in the banks so head the central bank, according to the law (64) of the Banking Act to ask for a loan from the government in its financial position and this depends on the decision of the Controller of account, which costs from both sides of Central Bank and the government. and the favor: he is supposed to observer arithmetic to raise a report to the trustee within weeks of any central bank, and then the central bank raises the report to the government and confirming that the Warka Bank is subject to the lives and assets are good, but is exposed to minor problems and to preserve the stability of the financial system can be saved and returned to his situation. said: The bank is expected that the external auditor report shall be submitted, but its procedures slow the fact that there are assets held by the buildings issue is taking a long time Palmsph him. The Executive Director of the Association of Iraqi private banks Abdul Aziz Hassoun announced a number of media in August 2011 that the Warka Bank needs to be about 100 billion Iraqi dinars (90 million) to boost its liquidity while confirming the Iraqi market for securities that the Board of Governors in the Iraqi Stock Exchange canceled the listing of the Warka Bank from the market in accordance with paragraph IX of Article V of the instruction number three amended for the year 2011, which provides for the write-off company from listing if the stoppage of circulation for six months without taking appropriate action to appeal pointing out that the Warka Bank is turned off from trading since the eighth of February 2010 and the Warka Bank for Investment and Finance which was established in 1999.130 branches and (350) ATMs in all parts of Iraq. It is noteworthy that the central bank plan of three phases to raise banks’ capital to 213 million by June 2013 to stimulate lending in the time he recovers Iraq of sanctions and the U.S. invasion in 2003. noteworthy that Iraq has seven banks owned by the state and (23) private banks, eight Islamic banks particularly according to the website the central bank as dominated by the banking sector, banks, Rafidain and Rasheed Aovernmaan and are under way to restructure in order to pay off the debts that have accumulated after years of war and sanctions / Finished / 3. n. p. /
Source: ikhnews