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Economy Bank gets ICB trusteeship

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rocky
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Economy Bank gets ICB trusteeship

Post by rocky on Sun 08 Jun 2014, 7:38 am

Economy Bank gets ICB trusteeship





Saturday, 07 June, 2014




Baghdad (Forat)-The Iraqi Central Bank announced Friday, imposition trusteeship over Economy Bank for Finance and Investment, noting ” Forming 3 members trusteeship constitute committees, for 18 months period, to prepare a report on the financial situation, and the future prospects for the bank.

A statement of the Central Bank, received by Alforat News Agency , on Friday ” It was decides to impose a trusteeship on the Economy Bank ,due to the financial deterioration of the Economy Bank , and its inability to fulfill its financial obligations, because of mistakes and unsound practices committed by the bank ,and its disability over fulfilling obligations to customers, and aiming to the banking safety, and financial system in Iraq.

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