The report of the Office of Financial Supervision (5)

The report of the Office of Financial Supervision (5)



18-02-2013 | (Voice of Iraq) -


Billions of dollars of foreign loans ancient unknown determination and Rafidain Bank records are inaccurate
I got the "long" the full text of the report of the Office of Financial Supervision for the first quarter of 2012 which will be put on the reader countless surprises through the rings. Diwan of the most prestigious institutions of the Iraqi state. In this report, the Group has unique advantages, the first being that it reveals information disaster level of government departments all diary, which appears to the public for the first time and is being presented in a language professional legal and audit and review meet and comparisons include previous years. The second advantage that he did not come from the party against party or bloc against another, but written by a crew staff and find wide acceptance, and respected by the Prime Minister himself. The third advantage is that the BSA through his powers can be up to most of the information documented by the media can not be accessed with this right of access to him in a democratic system, but is deprived of access to this information to Parliament. The quarterly report and also reader will notice, expressly involves large, which is a high recognition in the absence of the state in the terrifying details led us to these poor conditions. The state, through this report, acknowledges that within large areas of "non-state", and these spaces begin serious circles as a Council of Ministers, and does not end when the smallest village, as seen Followers of these episodes.
We will discover in turn that we have the full story of the Iraqi state during the first quarter of 2012, or "The Story of non-state in Iraq," if you like.

4. Ministry of Finance
Issued by the following reports: -
Report financial data report periodically evaluate performance Contract Audit inspection visits other auditing tasks Total reports
4 11 3 24 8 9 59 4 11 3 24 8 9 59
And below the most important indicators and comments received:
A - banks
First - general observations
(1) achieved some branches in the loss as a result of activity note that the continuing loss of years, as follows:
Bank Name Amount / million years loss
Rasheed / Mahmudiya 1317709,1039180,1275395 2010,2009,2008
Rasheed / Arkhitth 1819,2533,3016 2010,2009,2008
Rivers / upper 749,2510,2120 2010,2009,2008
(2) the presence of amounts owed owed treasurers for the shortage and fake cash through the process of replacing the currency failed to take the necessary measures in question as in the examples below: -
Bank Name Amount / MTD
Agricultural Cooperative / Cote 126
Rivers / Tikrit, 652
Rivers / Floor 297
Rasheed / Erkhitth 331
(3) under the debt account late payment amounts, did not take the time appropriate action as shown in the following examples:

Bank Name Amount / MTD
Rivers / Quarter 162
Rivers / Baquba 150
Rivers / Floor 146
Rasheed / Mahmudiya 190
Rasheed / Samawa 564
Rasheed / Erkhitth 267
(4) the presence of domestic transfers Mptaah ago the legal limit some of them back to the previous years are still suspended in the records and the seriousness of that derived from the possibility of lack of funds in the accounts of sellers, as shown in the following examples:
Bank Name Amount / MTD
Rivers / Kut 9088
Rivers / Cordoba 13609
اRivers / Tikrit 47,872
(5) the continued existence of current accounts and providing non-animated from previous years with the good bank / branch Samawah, Iraq / Branch Muthanna, which requires contact their respective owners and urge them to move.
(6) Some banks did not take the necessary measures against borrowers Almtlkin who did not pay any installment of the loans granted to them as in (tributaries / death / Cordoba / real estate / Muthanna).
(7) does not have some good staff sub / (Samawah, Erkhitth) who have been granted loans to provide support property (image under the property) Despite the end of the specified period.
Secondly - notes (1) screening requirements financial restructuring of the Rafidain Bank (a) losses inherited (I) within the account balance losses inherited amount (2,784,693) million (two billion, seven hundred and Eighty-four billion, six hundred and ninety-three million dinars) represents balances with the Central Bank Iraqi and local banks of transactions arising between Rafidain Bank and local banks and the Central Bank and branches of the Interior before 04.09.2003 and which lost Oliadtha during the war were filtering a large part of them note that the bank did not explain the reasons for the loss of those priorities and inclusive amount (2,346,443) million (two billion, three hundred and forty-six billion, four hundred and forty-three million) represents the Central Bank in the records of the bank as at 31/12/2010 of debtor and creditor balances (24) branches of branches without specifying the balance of each branch of the bank covered losses inherited.
The balance of the cash account at local banks (195,310) million dinars (one hundred and ninety-five billion, three hundred and ten million dinars) as of 31/12/2003, which is less than the amount required coverage calculates losses inherited, which means that the transaction, your account is credited in the records of the Rafidain Bank after the date of 31/12/2003 and there is no documented loss of auditor own priorities.
(Iii) results of the audit showed that the CBI / Directorate General of Accounts has shown its letter No. (h / o / 11/1/509) 18/3/2009 (mutual account balance of the Rafidain Bank in its records always conformed to the balance in the bank records Central to its reliance on copying restrictions issued by the Bank in the migration to account mutual) as between the bank that balances its accounts with matching assets CBI until 12/31/2009, which indicates a clear contradiction between what came a book bank and the inclusion of balance above losses inherited, which requires to provide this Court with بكشوفات matching Rafidain Bank accounts open and exchanged with the Central Bank of Iraq at the level of each account and at the level of each branch as at 31/12/2010 includes account balance under the Rafidain Bank records and records under the Central Bank of Iraq with all analytical detection in detention enhanced the minutes joint site by the Rafidain Bank and the Central Bank of Iraq.
(B) requests for compensation
(I) was not signed on the worksheet for the account above and adult (477 257) million (four hundred and seventy-seven billion two hundred and fifty-seven million dinars) as on 31/12/2010 by a committee restructuring at the bank also did not specify whether Balance regard to the events of 9/4/2003 or is it includes cases of theft that occurred after the date of 9/4/2003.
(Ii) lack of documentation amount (438) billion dinars (four hundred and thirty-eight billion dinars) equivalent (300,200) thousand dollars (three hundred million and two hundred thousand dollars) at an exchange rate (1460) dinars / dollars (one thousand four hundred and sixty dinars per dollar) restricted in 02/09/2004 at the expense of war damage compensation documents and documents that supports transfer the amount to the bank branches in addition to non-enhanced investigations that took place on it in order to limit the amounts that show the results of the investigation neglect or default by the staff of the bank and holding them amounts that were the cause of the loss or were the result of war damage which are required to be submitted to higher authorities for a decision where the bank did not indicate the action taken on the letter received Commission on Public Integrity / Investigations Department No. (285) on 10/10/2007, which included a recommendation to form committees and investigative audits into the causes of non-registration These amounts and documented at the time knowing that the working paper submitted by the bank did not include last actions regarding the results of the Special Investigation cash stolen in sub Fallujah and Rafii's (4637) million dinars (four billion and six hundred and thirty-seven million dinars) and (1616) million dinars (one billion and six hundred and sixteen million) respectively, and there were no answer up to the date of the preparation of the audit report.
(C) liabilities inherited
The balance of the account above under budget (amended) (12056) million dinars (twelve billion and fifty-six million) as at 31/12/2010 after excluding Foreign Currency Translation Adjustments statement without foreign currency account balance as audit results showed the following:
( (I) The balance of account long-term loans outside world (8,786,725,939) dollars (eight billion, seven hundred and eighty-six million seven hundred and twenty-five thousand and nine hundred and thirty-nine dollars), equivalent to (7,913,839) million dinars (seven trillion, nine hundred and thirteen billion, eight hundred and nine and thirty million KD) exchange rate (900) dinars to the dollar under the working papers submitted by the Committee on the restructuring of the bank and although we asked validate it but he did not we receive answer until the date of re-audit report with the knowledge that the balance under the memorandum of the international section was (6,763,965,096) dollars (six billion seven hundred and sixty-three million, nine hundred and sixty-five thousand and ninety-six dollars).
(II) have been resolved some loans in amounts exceeding the minimum amounts that appear in the records bank and $ (31,876) million dinars (thirty-one billion, eight hundred and seventy-six million dinars) and (237 598) million (two hundred and thirty-seven billion five hundred and ninety-eight million dinars) on respectively, which requires make the necessary adjustments in the records of the bank after verification of their integrity.
(Iii) The balance of loans that have been settled with borrowers (4,466,717,793) dollars (four billion, four hundred and sixty-six million, seven hundred and seventeen and ninety-three million dollars), while there are still loans of $ (2,297,247,304) dollars (two billion two hundred and ninety-seven million, two hundred and forty-seven thousand, three hundred and four dollars) that had not been resolved up to the date of the audit report, which requires a statement the measures adopted to make adjustments for these loans.
(2) Rafidain Bank / upper
The balance of loans the government sector (199 034) million (one hundred and ninety-nine billion and thirty-four million) and represents loans grantees to the General Company for Post & Telecommunications and bail the Ministry of Finance and bear Budget Department interest rate (4%) under the instructions issued by the Department of bank credit / Division internal loans and by Cabinet Resolution No. (50) which states (the inclusion of all companies self-financing and formations other and self-funded borrowing from Iraqi banks to cover the shortfall in the salaries of its members), where the company has not general for communications and e-pay any section and does not install under entitlement benefits in the records section in addition to the non-payment of interest by the Ministry of Finance, which requires taking the necessary action to collect the money bank.
(3) Rafidain Bank / neighborhood
Branch stopped a year ago / 2003 for granting banking facilities, which led to a decline in revenue, which requires the need for the administration to grant branch roof fiduciary duty.
(4) Rafidain Bank / Cordoba
Fixed Assets
Do bank filed a lawsuit on tenants for shops belonging to the branch for the purpose of evacuation and after earning suits for him suspended evacuate shops and continuing tenants work was not demanding amounts rents since the date of expiry of their contracts in the 09/27/2007 with expenses, judicial and benefits Altojerip, which requires obtaining amounts due owed by tenants and re-rent stores in accordance with the law on the sale and lease of state funds (32) for the year / 1986 (as amended) and the investigation subject to stop the evacuation of shops and not require tenants to rent amounts.

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