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[rtl]Editorial Date: 2018/9/6 9:56 • 70 times read[/rtl]
{Baghdad: Al-Furat News} The Commission of Integrity, the cases of delays in repaying the loans of the Industrial Bank and its contribution to companies suspended from work.
A statement of integrity received by the agency {Euphrates News} a copy of it that "the Department of Prevention in the Integrity Commission, called for the development of effective solutions in respect of the contribution of the Industrial Bank in {27} companies, most of which is idle from work first earn any profits, 38} billion dinars, a claim to take appropriate decisions to the disposal of shares in each company; in order to take advantage of those amounts in an increase of capital of 175 billion dinars, in line with the amount planned by the Central Bank of Iraq.
He added that "the department requested, in a report submitted by its working group, which carried out follow-up visits to the bank to find out the actions taken in light of the observations indicated in the comprehensive report prepared by the Department in July 2017.
It also called on the bank's management to "establish an appropriate mechanism to control the subject of loans, facilities and advances through the organization of the files, and the establishment of an electronic database that gives detailed data on the stages of completion of the transaction and the position of loans or advances to ensure the rights of the bank and the borrower alike."
He pointed out that "the reports sent a copy to the Office of the Minister of Finance, in the large delay in the payment of installments due to the borrowers, as the total payments during the period following the issuance of the comprehensive report in July 2017 to June 2018, twenty four billion and 594 million and 862 thousand And 366 dinars, out of the outstanding debts of 76 billion and 111 million and 616 thousand and 999 dinars.
He pointed out that "the administration of the bank did not take the initiative to take legal action against debtors for the payment of debt or loans, except in recent years, most of them in the years {2016 and 2017}, with emphasis on the ministries and their directorates to urge its employees to pay, The corrupt and the devout. "
The statement added that "In addition to the bank to allocate 15 billion dinars to three companies, 5 billion dinars for each company to equip [cars production of industrialists] in 2015, where the role of mediator financed between the company equipped vehicles and borrowers, and led banking instructions, These loans are based on the bank's loss of funds. A number of measures have been taken to ensure that the bank's money will be redeemed by raising the value of the deposit with real estate guarantees to be accepted by the bank at a value of JD1 billion. Under the lending contract, and that the sponsor is a government employee on permanent staff. "
The report estimated the ratio of the Bank's response to the observations made in the comprehensive report by 50%, except those that are dealt with outside the powers of the bank's management. Complete or conduct a comprehensive audit, but is only to take random samples of them, as well as the lack of inspection visits to branches of the Bank in Baghdad and the provinces.
He noted that "he noted that the feasibility studies for industrial projects are not prepared by specialized academic and professional staff, and that the borrower submits a feasibility study on the project for which the borrowing is intended by consulting offices approved by the Ministry of Planning. In the preparation of technical and economic studies "
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Integrity monitors delays in repaying loans of the Industrial Bank
[/rtl][rtl]Editorial Date: 2018/9/6 9:56 • 70 times read[/rtl]
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[rtl]{Baghdad: Al-Furat News} The Commission of Integrity, the cases of delays in repaying the loans of the Industrial Bank and its contribution to companies suspended from work.
A statement of integrity received by the agency {Euphrates News} a copy of it that "the Department of Prevention in the Integrity Commission, called for the development of effective solutions in respect of the contribution of the Industrial Bank in {27} companies, most of which is idle from work first earn any profits, 38} billion dinars, a claim to take appropriate decisions to the disposal of shares in each company; in order to take advantage of those amounts in an increase of capital of 175 billion dinars, in line with the amount planned by the Central Bank of Iraq.
He added that "the department requested, in a report submitted by its working group, which carried out follow-up visits to the bank to find out the actions taken in light of the observations indicated in the comprehensive report prepared by the Department in July 2017.
It also called on the bank's management to "establish an appropriate mechanism to control the subject of loans, facilities and advances through the organization of the files, and the establishment of an electronic database that gives detailed data on the stages of completion of the transaction and the position of loans or advances to ensure the rights of the bank and the borrower alike."
He pointed out that "the reports sent a copy to the Office of the Minister of Finance, in the large delay in the payment of installments due to the borrowers, as the total payments during the period following the issuance of the comprehensive report in July 2017 to June 2018, twenty four billion and 594 million and 862 thousand And 366 dinars, out of the outstanding debts of 76 billion and 111 million and 616 thousand and 999 dinars.
He pointed out that "the administration of the bank did not take the initiative to take legal action against debtors for the payment of debt or loans, except in recent years, most of them in the years {2016 and 2017}, with emphasis on the ministries and their directorates to urge its employees to pay, The corrupt and the devout. "
The statement added that "In addition to the bank to allocate 15 billion dinars to three companies, 5 billion dinars for each company to equip [cars production of industrialists] in 2015, where the role of mediator financed between the company equipped vehicles and borrowers, and led banking instructions, These loans are based on the bank's loss of funds. A number of measures have been taken to ensure that the bank's money will be redeemed by raising the value of the deposit with real estate guarantees to be accepted by the bank at a value of JD1 billion. Under the lending contract, and that the sponsor is a government employee on permanent staff. "
The report estimated the ratio of the Bank's response to the observations made in the comprehensive report by 50%, except those that are dealt with outside the powers of the bank's management. Complete or conduct a comprehensive audit, but is only to take random samples of them, as well as the lack of inspection visits to branches of the Bank in Baghdad and the provinces.
He noted that "he noted that the feasibility studies for industrial projects are not prepared by specialized academic and professional staff, and that the borrower submits a feasibility study on the project for which the borrowing is intended by consulting offices approved by the Ministry of Planning. In the preparation of technical and economic studies "
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