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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    The Central Bank of Iraq stops transferring the balances of Lebanese banks: suspicions of corruption

    Rocky
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    The Central Bank of Iraq stops transferring the balances of Lebanese banks: suspicions of corruption Empty The Central Bank of Iraq stops transferring the balances of Lebanese banks: suspicions of corruption

    Post by Rocky Wed 23 Nov 2022, 6:46 am

    [size=47]The Central Bank of Iraq stops transferring the balances of Lebanese banks: suspicions of corruption[/size]


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    Baghdad

    Mohamed Ali

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    November 23, 2022
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    Suspicions of corruption in the process of transferring the balances of Iraqis deposited in Lebanese banks (Getty)
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    Today, Wednesday, [You must be registered and logged in to see this link.] decided to  stop transferring the balances of depositors in [You must be registered and logged in to see this link.]   to two Iraqi banks, one day after a supervisory report indicated the transfer of balances deposited in Lebanese banks to the Iraqi Rafidain Bank - Beirut branch.
    And the document of the Central Bank of Iraq’s decision addressed to all Iraqi banks showed that “for the requirements of the work interest and for control and audit purposes, it was decided to stop the procedures for transferring balances from Lebanese banks to the Rafidain Bank, Beirut branch, and the account of the Rashid Central Bank in the Central Bank of Lebanon.”

    The document, signed by the Deputy Governor of the Central Bank of Iraq, Ammar Hamad Khalaf, came one day after a statement by the Iraqi Integrity Commission, in which it said that "the Supreme Commission has begun an investigation into the process of transferring balances deposited in Lebanese banks to the Rafidain Bank in Beirut."
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    The statement added that the commission "is investigating suspicions of corruption in the process of transferring the balances of Iraqis deposited in Lebanese banks to the Rafidain Bank - Beirut branch, as well as the bank account of the Rasheed Bank in the Lebanese Central Bank."
    And she continued, explaining that “the investigating judge of the Central Anti-Corruption Criminal Court issued, based on her investigations into the case, orders to bring in the former General Manager of the Rafidain Bank and his assistant, on the grounds of suspicions of corruption in the process of transferring balances deposited in Lebanese banks, while he decided to summon other officials in the Central Bank.” .

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    The document came one day after a statement by the Iraqi Integrity Commission (Iraqi Central)
    She pointed out that the recruitment order issued in accordance with the provisions of Article (340) of the Penal Code, was followed by the issuance of an order to stop the transfer of funds to the Rafidain and Rasheed Banks, stressing that she will inform the public of developments in the progress of the investigation in the case and the decisions of judgments issued by the judiciary against the accused, as permitted by the law and without prejudice. confidentiality of the investigation.
    The decision also comes a day after the US Ambassador to Baghdad, Alina Romanowski, met with the Governor of the Central Bank of Iraq, Mustafa Ghaleb, and she explained in a tweet that the meeting focused on the issue of money laundering and "the need to fight corruption."


    She stressed that the meeting focused on "the need to support reforms in the banking and financial sector, and the need to work together to combat corruption and money laundering."
    A source in a private Iraqi bank spoke to Al-Araby Al-Jadeed, on the condition that his name not be mentioned, that the decision to stop dealing with Lebanese banks comes after the disclosure of huge corruption suspicions that resulted from them in the last period.
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    He added that Iraqi and Lebanese depositors, banks and private companies, after their Lebanese banks faltered, found a trick to transfer their existing balances to the Iraqi Rafidain Bank, Beirut branch, from which the amount is withdrawn, in hard currency dollars, or in Iraqi dinars, so that financial transactions are transferred from the depositor and the troubled Lebanese bank to between The Iraqi banks of Al-Rafidain and Al-Rashid and the Lebanese bank from which the balance was transferred, which resulted in great losses for Iraq.
    The source talked about huge sums that were stuck in the troubled banks in Lebanon, which depositors obtained as soon as the (balance transfer) operations were completed, considering that the decision of the Central Bank of Iraq "came late."
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