Central Bank: the Committee on Trusteeship Warka Bank proceeds will be distributed among small deposits
Central Bank: the Committee on Trusteeship Warka Bank proceeds will be distributed among small deposits
Author: HM Editor: GS | SS 26 June 2012 11:15 GMT
Deputy Governor of the Central Bank of the appearance of Mohammed Saleh
Sumerian News / Baghdad
Central Bank of Iraq, Tuesday, that the Committee on Trusteeship formed to audit the accounts Warka Bank will be distributed financial returns they receive from the debt the bank owners of small deposits, stressing that there are ten of thousands of small depositors in the bank. Deputy Governor of Central Bank the appearance of Mohammed Saleh in an interview for “Alsumaria News”, “Committee for the trusteeship set up by the Iraqi Central Bank to audit the accounts Warka Bank is keen on the distribution of financial returns they receive from the debt the bank owners of small deposits according to each individual and Diath,” noting that “there are ten thousand citizen of the small depositors in the bank. ” The Central Bank of Iraq announced, in (5 March 2012) on the status of the Warka Bank under trusteeship after the failure of talks with Standard Chartered Bank, the British, which began in April 2011 to buy it after suffering a financial crisis summoned and placed under the guardianship . Saleh added that the “Commission Wills is currently checking deposits of State for Warka Bank in preparation for the lifting of its report to the Central Bank to get to the truth and the value of the bank,” noting that “the bank is still under the tutelage of the central bank, which is expected to report Sergeant Financial to decide the possibility of the return the bank to work or not. ” Salih stressed that “the report be submitted to the commandments if positive, it will apply the law of 67 of the Banking Act No. 94 of 2004 with the support the bank at the request of the guardian of the Central Bank to the Ministry of Finance supporting financially, either through deposits or loans to regain its health and status , “pointing out that” the central bank was designed by placing the Warka Bank under its guardianship and to try to revive him to stabilize the financial system in Iraq. ” and Article 67 of the Banking Act that the Central Bank of Iraq to establish and license of the Bank of progress on the basis of Article 67 and provide it with a money by the state to get all or part of the assets and liabilities of the bank subject to rehabilitation. The Executive Director of the Association of Iraqi private banks Abdul Aziz al-Hassoun said, in August 2011, that the Warka Bank needs to be about 100 billion Iraqi dinars (90 million) to boost 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 the listing if the stoppage of trading for a period of 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 Warka Bank for Investment and Finance, which was established in 1999.130 branches and 350 ATMs in all parts of Iraq. noteworthy that Iraq has seven state-owned banks and 23 private banks, eight Islamic banks in particular, according to the website of the Central Bank, while the banking sector is dominated by banks, Rafidain and Rasheed Aovernmaan, and now subject to restructuring in order to pay off the debts that have accumulated after years of war and sanctions.
Source: alsumarianews
