Advisor Abadi commented on the opening of Hamorabi Bank

by **Rocky** Thu 04 Oct 2018, 7:03 am

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Advisor Abadi commented on the opening of Hamorabi Bank

by Rocky Thu 04 Oct 2018, 7:03 am

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Advisor Abadi commented on the opening of Hamorabi Bank

The financial adviser to the Prime Minister confirmed the appearance of Mohammed Saleh, that the opening of the "Hamorabi Bank Aljsri" represents a remarkable success is the first of its kind recorded by the Monetary Authority in rescuing troubled banks and restore life to financial activities and transition from the stage of guardianship to the stage of the bank bridge, rather than forced liquidation.

Mohammed Saleh said in a statement that "the opening of the bank the first financial model in Iraq, which resulted from the strict application of the Law of Iraqi banks No. 94 of 2004 in dealing with the phenomenon of banking failure without resorting to liquidation is a distinct success of the Iraqi banking sector, And the adoption of the rules of risk management in all its forms, especially in the field of credit management, liquidity and capital adequacy. "

"The central bank seeks to implement good governance standards and regulatory regulations based on the principle of separation of management from property rights to avoid conflict of interest banking and to participate in risk between management and owners of property rights through meetings of the General Authority of Banks."

The governor of the Central Bank of Iraq Ali Alalak inaugurated on Wednesday a bridge bridge Hamorabi bridge, in the first step of its kind to protect the banking system, and return to work and provide products that support the national economy.

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