The Central Bank warns a UAE bank

by **Rocky** Wed 26 Aug 2020, 6:49 am

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Post n°1

The Central Bank warns a UAE bank

by Rocky Wed 26 Aug 2020, 6:49 am

[size=35][size=35]The Central Bank warns a UAE bank[/size]
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Economie

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2020-08-26 | 1:55
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[size=18]On Wednesday, the Central Bank of Iraq warned the "Abu Dhabi Islamic Bank" that contracts must be concluded with companies licensed by the bank, indicating that a commission will be imposed in the event of non-compliance.

The Central Bank said in a statement that Alsumaria News received a copy of, that “based on the decision of the Board of Directors and taken in its session numbered at number five hundred and ninety-six after the thousand, it was decided to approve the granting of Abu Dhabi Islamic Bank a final and final deadline until December 31 of 2020 to contract with companies Licensed by this bank. "

He added, "Otherwise, a commission will be imposed on every movement that passes through the National Switch in the amount of 500 dinars, which will be borne by your bank and not the customer."

The Central Bank of Iraq was established as an independent bank under its law issued on the sixth of March of the year 2004, as an independent body, and is responsible for maintaining price stability and implementing monetary policy, and supervises 10 commercial banks, 26 private banks, 16 Islamic banks, in addition to 19 foreign banks. About 6 financial institutions and 31 money transfer companies.
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by **Rocky** Wed 26 Aug 2020, 7:02 am

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Post n°2

08/26 | 11:07 The Central Bank alerts Abu Dhabi Islamic Bank of its contracting with unlicensed

by Rocky Wed 26 Aug 2020, 7:02 am

08/26 | 11:07
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On August 26, 2020[/size]

[rtl]Al-Mustaqila ... The Central Bank of Iraq has warned the "Abu Dhabi Islamic Bank" that it is necessary to contract with companies licensed by the bank, indicating that a commission will be imposed in the event of non-compliance.[/rtl]
[rtl]The Central Bank said in a statement that Al-Mustaqilla received a copy of it today, Wednesday, that “based on the decision of the Board of Directors and taken in its session numbered 590 after one thousand, it was decided to approve the granting of Abu Dhabi Islamic Bank a final and final deadline until December 31 of 2020 to contract with previously licensed companies This bank ”.[/rtl]
[rtl]He added, "Otherwise, a commission will be imposed on every movement that passes through the national exchange of 500 dinars, to be borne by your bank and not the customer."[/rtl]
[rtl]The Central Bank of Iraq, as usual, did not reveal the nature and details of the problems or mistakes committed by the Abu Dhabi Islamic Bank, and it was satisfied with its warning and omission until the end of the year.[/rtl]
[rtl]The Central Bank of Iraq, in its capacity as the one on the monetary policy, is subjected to continuous criticism by members of parliament, the media and economic experts, due to its obscure monetary policy and is useless on the economic reality, which led to the smuggling of hundreds of billions of hard currency without being reflected on the economic or development reality In Iraq .[/rtl]
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