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Granting financial powers to the Bank of the economy to reduce its losses
06/30/20140
Central Bank granted some financial powers to the Bank of the economy for investment and funding in order to reduce losses.
said Director General of the Directorate of banking and credit control Abdul Abbas Khalaf Sultan said on Monday that "the central bank decided to give some financial authority for the management of the bank in order to compensate for the losses, which included entry Economy Bank for Investment and Finance to Window buying and selling foreign currency ceiling cash specified amount of five million dollars a week. "
and added that "the Bank allowed the bank also issued letters of guarantee type entry tender exclusively starting on Tuesday." and continued the Sultan said, "These actions come based on the powers of the Central Bank in accordance with the law No. 94 Iraqi banks for the year 2004.
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06/30/20140
Central Bank granted some financial powers to the Bank of the economy for investment and funding in order to reduce losses.
said Director General of the Directorate of banking and credit control Abdul Abbas Khalaf Sultan said on Monday that "the central bank decided to give some financial authority for the management of the bank in order to compensate for the losses, which included entry Economy Bank for Investment and Finance to Window buying and selling foreign currency ceiling cash specified amount of five million dollars a week. "
and added that "the Bank allowed the bank also issued letters of guarantee type entry tender exclusively starting on Tuesday." and continued the Sultan said, "These actions come based on the powers of the Central Bank in accordance with the law No. 94 Iraqi banks for the year 2004.
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