The Central Bank imposes trusteeship on the Warka Bank
10.03.2012
Criticized by experts and observers, economists decision of the Iraqi Central Bank to impose trusteeship on the Warka Bank one of the largest private banks in Iraq, loaded at the same time the banking sector the government of Iraq, responsible for the continued failure of the private banking sector, and the weakness of his participation in investment projects in the country. The Central Bank of Iraq situation Warka Bank of Iraq Investment and Finance under guardianship because of lack of liquidity, which is the same reason that led to the development of Basra International Bank for investment under the trusteeship system about two years ago. The economist said Bassem Jamil Antoine that the Central Bank of Iraq too late to decide custody because the bank Warka and Basra were Mtlkin more than a year and a half and were unable to repay deposits of citizens. He Antoine in his interview with Radio Free Iraq to the crisis of liquidity, banks would not have been up to the extent to which if the follow-up and control the performance of the bank are available by the Central Bank of Iraq. criticized Antoine sector government banking as a result taken from the reluctance of bank Warka and Basra excuse for not dealing with private banks, which have negatively impacted on their work. defended the adviser to the CBI the appearance of Mohammed’s decision to impose custody of the Warka Bank, stressing that an informed decision and would contribute to the rebirth of this bank . Salih stressed that a committee of the Iraqi Central Bank will examine the problems of the Warka Bank is trying to find opportunities to integrate with another bank or find an outside partner and thus return to the practice of his work as before. assured the benefit of Iraqi citizens who have deposits in the Warka Bank that their rights are guaranteed and Okhov the result of a decision of the Trusteeship. referred to as the Warka Bank was entered last year in negotiations with the British Standard Chartered Bank to sell stake of its shares, but the negotiations have reached a dead end, which accelerated in the decision to impose the trusteeship upon by the CBI
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