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Documents.. The Central Bank issues warnings to the Bank of Kurdistan, prohibits it from issuing letters of guarantee, and dismisses its advisors
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2023-04-06 03:01
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Shafaq News/ The Central Bank of Iraq has taken a set of punitive measures against the Kurdistan International Islamic Bank for Investment and Development for not disclosing the accumulated balances with the Turkish "Halk" Bank.
Among those measures is sending a warning to the authorized director of the bank (Omar Saad Hamadna) for not complying with directives and instructions.
The bank also directed a warning to the Board of Directors of the Bank of Kurdistan because of its "clear" interference in banking business (executive management).
Among the decisions of the Central Bank, according to an official letter issued by it and appended to the signature of Kismat Salih Ali, the Director General, and issued on the third of April, conducting an administrative investigation with the financial department and identifying the defaulters after disclosing the cash balances collected with the Turkish “Halk” Bank in the financial statements sent To this bank with the provision of the central bank for investigation no later than the 30th of the month of April.
It was also decided to deprive the Bank of Kurdistan from issuing letters of guarantee through the electronic platform, to participate in the window, and to grant loans through the Central Bank of Iraq.
The Central Bank dismissed all the advisors who had previously been appointed by the Bank of Kurdistan without obtaining the approval of the bank.
Shafaq News Agency publishes the text of the Central Bank’s book below:
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