Two experts: hidden activities or to reduce risks behind the central monitoring of private banks

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[size=52]Two experts: hidden activities or to reduce risks behind the central monitoring of private banks[/size]

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Investigate the reasons for dissolving the Board of Directors of the Bank of Kurdistan[/size]
[size=45]An economist attributed the evasion of some private banks from disclosing their balances to the existence of activities he described as frightening, while a legal expert confirmed that imposing control is a measure aimed at reducing risks during crises. The expert, Malath Al-Amin, told (Al-Zaman) yesterday that (the central bank’s supervision of private banks is necessary to prevent money smuggling or engaging in suspicious activities), and added that ( Some banks deliberately do not disclose their balances to gain clients from political figures who may be involved in illegal gain. To address the procedures that may lead to the bankruptcy or liquidation of banks, as the powers are suspended and transferred to the person who is assigned by the bank’s management during the period of tutelage to carry out the function of preserving the bank and representing it before the legal authorities). And investigated (time) earlier, the reasons for the dissolution of the Board of Directors of the Kurdistan International Islamic Bank for Investment and Development. A source told Al-Zaman yesterday that (the bank used to grant members of the board of directors $10,000 per month to dispose of it, without a legal basis), as he said, and it is likely that The source (this may be behind the Central Bank's decision to monitor the activities that the bank has conducted during the past two years, dissolving its board of directors). The central had decided to monitor the work of the bank. (Depriving the bank from issuing letters of guarantee through the electronic platform, participating in the window, and granting loans through the Central Bank initiative, as well as through the credit portfolio, and any exchange process for amounts exceeding one billion dinars, until the completion of the processing or installation of the banking system. comprehensive electronic mail, as well as the dismissal of all advisors who were previously appointed by your bank without obtaining the bank’s approval). The Central Bank also assigned a company to monitor and audit the accounts of the Bank of Kurdistan in Erbil. Al-Zaman saw a document of the company stating that (based on what was stated in the bank’s letter that included providing them with a detailed report on the status of the approved banking system during the past two years, the reports extracted from it were clarified for the accounts of the assets therein for revenues and expenses and matching Balances of public administration accounts with all bank branches. ‬ The Central Bank also assigned a company to monitor and audit the accounts of the Bank of Kurdistan in Erbil. Al-Zaman saw a document of the company stating that (based on what was stated in the bank’s letter that included providing them with a detailed report on the status of the approved banking system during the past two years, the reports extracted from it were clarified for the accounts of the assets therein for revenues and expenses and matching Balances of public administration accounts with all bank branches. ‬ The Central Bank also assigned a company to monitor and audit the accounts of the Bank of Kurdistan in Erbil. Al-Zaman saw a document of the company stating that (based on what was stated in the bank’s letter that included providing them with a detailed report on the status of the approved banking system during the past two years, the reports extracted from it were clarified for the accounts of the assets therein for revenues and expenses and matching Balances of public administration accounts with all bank branches. ‬[/size]
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