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[size=36]Directing a new parliamentary question to the Governor of the Central Bank[/size]
Political| 03:51 - 04/27/2021
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Baghdad - Mawazine News,
a member of Parliament, Jamal Al-Muhammadawi, addressed a parliamentary question to the Governor of the Central Bank regarding monitoring banks, banking companies and brokerage offices for the sale and purchase of foreign currencies.
According to a document issued by his office, Al-Muhammadawi said, "Through the audit of the Federal Office of Financial Supervision, the data on the capital of private banks, it was noticed that there were a number of banks that did not increase their capital to (250) billion dinars, in contrast to the uncles of the General Directorate of Banking and Credit Monitoring in 2013, and we mention some These banks, for example, Dar Al Salam Bank (150) billion dinars, Babylon Bank (178.859) billion dinars, Tigris and Euphrates Bank (100) billion dinars, and Islamic Cooperation Bank (144.481) billion dinars. "
He added that "the follow-up of the Office of Financial Supervision showed that the Central Bank's instructions related to the sale and purchase of currency did not include anything indicating the follow-up of the commercial lists provided by private banks in exchange for imported goods that were covered by credits, which causes the central bank to lose the control component of remittances."
Al-Muhammadawi indicated that "there are no deterrent measures by the General Directorate of Banking Supervision regarding banks that refrain from paying the issuance of letters of guarantee for a specified period of time."
He continued, "Some companies have been observed to engage in brokerage business in selling currency in Baghdad, but they are not installed in the database of the Banking Supervision Directorate."
He stressed that "companies brokering the sale of currency benefited from the issuance of the Banking Control Directorate to stop requests to grant branches to banks, which led to companies and offices taking advantage of the legal loophole."
Al-Muhammadawi was surprised by the suspension of the activity of mediation companies located in the governorates of Anbar and Nineveh.
Al-Muhammadawi revealed that the company "Al-Lub" to mediate in the sale of currency, borrowed from the Iraqi Trade Bank an amount of (350) million dinars, or (70%) of its capital of (500) million dinars, in contradiction to the law, in addition to the loan granted to the company before registering it with Companies Registration Department. ”Ended 29 / h
a member of Parliament, Jamal Al-Muhammadawi, addressed a parliamentary question to the Governor of the Central Bank regarding monitoring banks, banking companies and brokerage offices for the sale and purchase of foreign currencies.
According to a document issued by his office, Al-Muhammadawi said, "Through the audit of the Federal Office of Financial Supervision, the data on the capital of private banks, it was noticed that there were a number of banks that did not increase their capital to (250) billion dinars, in contrast to the uncles of the General Directorate of Banking and Credit Monitoring in 2013, and we mention some These banks, for example, Dar Al Salam Bank (150) billion dinars, Babylon Bank (178.859) billion dinars, Tigris and Euphrates Bank (100) billion dinars, and Islamic Cooperation Bank (144.481) billion dinars. "
He added that "the follow-up of the Office of Financial Supervision showed that the Central Bank's instructions related to the sale and purchase of currency did not include anything indicating the follow-up of the commercial lists provided by private banks in exchange for imported goods that were covered by credits, which causes the central bank to lose the control component of remittances."
Al-Muhammadawi indicated that "there are no deterrent measures by the General Directorate of Banking Supervision regarding banks that refrain from paying the issuance of letters of guarantee for a specified period of time."
He continued, "Some companies have been observed to engage in brokerage business in selling currency in Baghdad, but they are not installed in the database of the Banking Supervision Directorate."
He stressed that "companies brokering the sale of currency benefited from the issuance of the Banking Control Directorate to stop requests to grant branches to banks, which led to companies and offices taking advantage of the legal loophole."
Al-Muhammadawi was surprised by the suspension of the activity of mediation companies located in the governorates of Anbar and Nineveh.
Al-Muhammadawi revealed that the company "Al-Lub" to mediate in the sale of currency, borrowed from the Iraqi Trade Bank an amount of (350) million dinars, or (70%) of its capital of (500) million dinars, in contradiction to the law, in addition to the loan granted to the company before registering it with Companies Registration Department. ”Ended 29 / h
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