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Neno's Place Established in 2006 as a Community of Reality


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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Central Bank applied custody of the Economy Bank for Investment and Finance

    Rocky
    Rocky
    Rocky
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    • Post n°1

    Central Bank applied custody of the Economy Bank for Investment and Finance Empty Central Bank applied custody of the Economy Bank for Investment and Finance

    Post by Rocky Sun Jun 08, 2014 7:57 am

    Central Bank applied custody of the Economy Bank for Investment and Finance


    06/07/20140 
    Tomorrow's Press / Baghdad: Iraqi Central Bank announced on Saturday, the start of the application of the custody of the Bank of economy, finance and investment, according to the decision issued by the central bank earlier this month, Neighbor, attributing the cause of the lack of obligations that fall on his shoulder. The Chairman of the Committee on Trusteeship Bank's Ali Mahmoud Fayad for "tomorrow's Press," said that "the decision of the Commission embarked on the application of trusteeship by 1512 it issued in early June because of the ongoing failure of the bank to fulfill the obligations that fall on his shoulder." He pointed out that "the Central was forced to impose a trusteeship because the bank was not able to avoid misstatement and out of the problems properly, in addition to some unsound practices committed by the tumble in the fulfillment of its obligations to customers." The CBI issued the first of June a decision on the custody of the Bank of the economy and ordered the formation of a committee for this purpose because of the complaints submitted to the bank ..

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    Rocky
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    Join date : 2012-12-21
    • Post n°2

    Central Bank applied custody of the Economy Bank for Investment and Finance Empty Re: Central Bank applied custody of the Economy Bank for Investment and Finance

    Post by Rocky Sun Jun 08, 2014 8:43 am

    Central Bank of Iraq seizes Economy Bank of Investment & Finance under receivership
     

       
    June 7, 2014 by Amir Abdallah


    Abdallah No Comments
     
    Central Bank of Iraq Logo Central Bank of Iraq seizes Economy Bank of Investment & Finance under receivershipThe Central Bank of Iraq imposed trusteeship, on Friday, on Economy Bank for Finance and Investment, the formation of committees of trusteeship will be composed of three people for a period of 18 months, subject to extension; it’s Mission preparing a report on the financial situation and the future prospects of the bank.

    The CBI said: ”it decided to impose a trusteeship on the Economy Bank because of the problems in the management of real estate and other financial services and its inability to fulfill its financial obligations towards the clients.”

    The Central Bank added:” Based on article number 40 of the Central Bank Act of 2004, which authorize the bank supervisory authority and control over the banks operating in Iraq and the implementation of the provisions of paragraph 1 of Article 59 of the banking Act 94 of 2004, the Central Bank has the right to put any bank under guardianship whenever it doesn’t meet its financial obligations.”

    The statement noted that “the central bank will form committees tutelage, composed from three people for a period of 18 months, subject to extension; its mission preparing a report on the financial situation and the future prospects of the bank.” noting that “the Commission will manage the bank effectively .It will treat creditors fairly and equally; its style would maximize revenue from the sale and reduce any losses.”

    The statement noted that the Bank will publish this decision in the official gazette “facts of Iraq”.

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