CBI confirms that the guardianship and the Warka Bank came to save him
09/03/2012 15:19
Baghdad, March 9 (Rn) – The Central Bank of Iraq, Friday, the imposition of guardianship on the Warka Bank of Iraq Investment and Finance came to save him from some of the problems experienced by noting that the interim administration’s current bank moving its business, while considered the Committee of Representatives of financial conduct of the Central is an important step to improve and reality. and decided Central Bank of Iraq this week to develop and guardianship to the Warka Bank one of the largest Iraqi banks because of marking some of the problems the financial dealings. The main tasks of the Central Bank in managing monetary policy in the country and raise the level of the values of the Iraqi dinar and tackle inflation. Deputy Governor of Bank of Iraq the appearance Mohamed Saleh, told the Kurdish news agency (Rn), “the central bank to impose guardianship on the Warka Bank to help him overcome his problems,” noting that “the bank had a problem and we look closely now its assets, and work is continuing and has not closed.” The Deputy Governor of the Bank that “Warka Bank of large banks and very good and has many branches and guardianship means the interim administration of the bank, “and expressed his hope that” the return Warka Bank to normal after the conclusion of the investigation. ” He said, “guardianship, according to the law is 18 months, renewable for 18 other”, revealing “The bank has stalled in the daily trading because of the reasons for part of them out of his will, including the withdrawal of the Iraqi government to deposit him three years ago.” In response to a surprise that situ Iraqi Finance Minister Rafie al-Issawi’s decision to custody of the Warka Bank without being told personally by the Deputy Governor of Central Bank “There is confusion in the law of the Central Bank is the event in articles 59 and 66″, noting that “He explained to the Minister of Finance and the latter expressed his conviction.” He said. He expressed his Finance Minister Rafie al-Issawi yesterday in a press statement surprise at the decision of the Iraqi Central Bank put Warka Bank under guardianship without the coordination and take the approval of the Ministry of Finance. , says Central Bank of Iraq that Article 59 of its law permits him put custody of the banks which is a set interim administration of any bank get the financial problems, while indicating Article 66 of the law that the trustee after the appointed by the central bank could seek through the Central Bank of the request by the Minister of Finance to save the bank in case found that there is a possibility to save him. sought Warka Bank, according to reports economic to get out of his financial entry through the Bembagesat with Standard Chartered Bank British to sell a share of the shares, but the talks have reached a dead end. expressed the Economic Commission of parliamentary support for the decision to place custody of Egypt P Warka on the grounds that the policy adopted by his administration were not effective. He said the Commission’s decision Mahma Khalil’s (Rn), “the policy of the Warka Bank banking and economic ineffective in Iraq and a lot of citizens’ rights were lost because of the political incorrect,” noting that “put the bank under the tutelage of the Central Bank is an important step to improve the reality.” said Khalil “The Central Bank of Iraq assumes all responsibility in the granting of rights to citizens who deposited their money in Warka Bank.”refers economists that all banks in Iraq, whether government and private need to tighten control by the central bank in order to prevent financial problems call placed
under guardianship.The economist said Falah Hassan’s (Rn), that “there are a lot of the problems that occurred in the banks issue deposits, the control of all banks, whether civil and government on the grounds that part of the banks so far has not led active role in the Iraqi economy.” Hassan said “The control of the central bank to all banks will be capable of evaluating their work and improve the efficiency of performance and thus employ expertise to improve the Iraqi economy,” adding that “everyone rejects the principle of trusteeship on any bank, but there is confirmation to activate the control of the bank.” He said, “control of the bank CBI will be important in terms of evaluating the work of Iraqi banks in addition to preventing access to the stage of development of custody of each. ” The decision to put Alossaath the Warka Bank at a time enter the central new mechanism requiring the withdrawal of foreign currency on the basis of the importance of development projects in the country, having spread news of the widening of the smuggling of foreign exchange and in particular to Iran, which faces international sanctions. From: Haidar Ibrahim, RN peace Baghdadi
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