"Useless and not pay" banks .. "opaque" suck the currency auction

"Useless and not pay" banks .. "opaque" suck the currency auction

Editor Ammar Tarek - Thursday July 13 2017 13:34

Alsumaria News / Baghdad
after the Iraqi Central Bank by issuing new standards for the classification of banks for the purpose of participating in auctions selling the dollar within the categories included A, B and C, these banks standards allowed classification of class C from participating in the sale currency window.

Specialized financial and economic affairs and described these banks classified under classification C Palmtlkih and are not eligible to enter the sale of currency window, as he hovers around doubts about the possibility of achieving the objective behind the purchase of the dollar through its participation auctions.
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Parliamentary Finance Committee member Rahim al - Daraji said in an interview with Alsumaria's News, that " the ratings criteria raised eligibility for banks" vague and by many question marks , "pointing out that" the ratings raised eligibility for banks where the understandable mechanism does not exist, we do not know Is ratings parties or quotas, therefore we have formed a committee of experts to study them in detail and get to the truth. "

He added Darraji that" parliamentary Finance Committee focused today on the completion of the supplementary budget in addition to the follow - up appeals by the government on some of the budget materials , "asserting that" the issue of the divisions of banks into categories issues of A task that will work by the Committee , respectively. "

Economic expert Abdul Rahman al - Mashhadani said in an interview with Alsumaria News that" the Central Bank of class banks into three categories that can enter the window of the sale of foreign currency through the standard of compliance , which include anti - money laundering, risk management, financial and special things the bank. "

he adds Mashhadani , " the banks got a and B , it is according to this classification responsive to the conditions and compliance , and therefore it is entitled to enter the window sell currencies, while the banks that received a rating of C allowing them to enter the currency sale mistake. "

He added that "these banks which carry out a class C problems that compliance with standards that may not necessarily be applied by suspicions of corruption has not Kamour administrative own shareholders, such as capital bank and other rights of other things."

Mashhadani said that "these ratings established by the Central Bank is a local rather than international , because most of the banks in Iraq are small compared to neighboring countries, whether the heads of its funds or private banking operations management."

He said the financial expert Jassem Al- Issa in an interview with Alsumaria's News that it was "supposed not to allow these banks which are a class c entry to sell the currency window only after full compliance with the instructions and controls established by the Central Bank , " noting that "least rated banks deprived will be paid to improve their performance to reach the highest rating, by adhering to the instructions and controls established by the Central Bank. "

It indicates Alissa that "allow these banks in this category Login window sell currencies will display the window to the confusion in their work, considering that these banks is Mahlyh to enter for such a auction and the doubts of the arrival of the dollar goal desired to him."

The central bank confirmed that the assessment of the banks have been in accordance with the standards in consultation with the Office of international scrutiny, at a time when it is between the periodic review of the re - evaluation of banks, he pointed to allow banks by making observations on the ratings.

And adopted by the Central Bank in June , seven key criteria for the classification of banks entering the window to sell the currency branch of which other sub gives each of which contributes to a relative weight in determining the final grade of the bank.

The central bank confirmed that the assessment of the banks have been in accordance with the standards in consultation with the Office of international scrutiny, at a time when it is between the periodic review of the re - evaluation of banks, he pointed to allow banks by making observations on the ratings.


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