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Central Bank: economy-Bank errors despite repeated warnings behind under wills
Baghdad/Obelisk said the Iraqi Central Bank, said Saturday that the repetition of mistakes by the Department of economics for investment bank on the guarantee behind the imposing trusteeship.
He said General Manager and finance at the Central Bank, Abdul Al-Abbas successor Sultan, in an interview for "the Obelisk", "regarding the economy Bank we spotted from the outset to issue letters of guarantee in excess of the limit under the instructions of the Central Bank of Iraq", stating "we have several warnings to the Bank and to the decision of the Central Bank of Iraq to deprive the Bank of issuance of letters of guarantee.
"Vinegar for a denial that the Bank has issued letters of credit to ensure that core irregularities committed by".
"From the observations of other roses instruments drawn on the Bank of the economy by clearing the Iraqi Central Bank, the bank balance at the Central Bank of Iraq was not sufficient for the payment of these obligations, this indicates that the Bank has failed in providing liquidity to pay obligations".
He noted that "the Central Bank came to the Banking Act to impose Trusteeship on the Bank because the administration isn't efficient enough to provide liquidity," adding that "the aim of imposing a Trusteeship on the Bank's rehabilitation and return, as well as to protect and preserve the funds depositors and shareholders".
The Central Bank recently announced the imposition of custodianship over the economy Bank for finance and investment, adding that he would form a Committee of three people trust and an 18-month extension to prepare a report on the financial situation and future prospects of the Bank.
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Baghdad/Obelisk said the Iraqi Central Bank, said Saturday that the repetition of mistakes by the Department of economics for investment bank on the guarantee behind the imposing trusteeship.
He said General Manager and finance at the Central Bank, Abdul Al-Abbas successor Sultan, in an interview for "the Obelisk", "regarding the economy Bank we spotted from the outset to issue letters of guarantee in excess of the limit under the instructions of the Central Bank of Iraq", stating "we have several warnings to the Bank and to the decision of the Central Bank of Iraq to deprive the Bank of issuance of letters of guarantee.
"Vinegar for a denial that the Bank has issued letters of credit to ensure that core irregularities committed by".
"From the observations of other roses instruments drawn on the Bank of the economy by clearing the Iraqi Central Bank, the bank balance at the Central Bank of Iraq was not sufficient for the payment of these obligations, this indicates that the Bank has failed in providing liquidity to pay obligations".
He noted that "the Central Bank came to the Banking Act to impose Trusteeship on the Bank because the administration isn't efficient enough to provide liquidity," adding that "the aim of imposing a Trusteeship on the Bank's rehabilitation and return, as well as to protect and preserve the funds depositors and shareholders".
The Central Bank recently announced the imposition of custodianship over the economy Bank for finance and investment, adding that he would form a Committee of three people trust and an 18-month extension to prepare a report on the financial situation and future prospects of the Bank.
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