How did the former prime minister's niece cause the loss of 5 million dollars from the treasury of t

[rtl]Baghdad-Iraq today:[/rtl]
[rtl]Informed sources said that the niece of former Prime Minister Adel Abdul Mahdi, called Zainab, who occupies the position of Deputy Director General of the Iraqi Trade Bank, caused a waste of 5 million dollars of the bank's money after she agreed to disburse the amount to the Warka National Bank, without taking sufficient guarantees.[/rtl]
[rtl]And the sources indicated, "There has already been a waste of public money in the amount of approximately $5 million, as a result of a default by (Zainab Rafiq Shubar), the niece of Adel Abdul-Mahdi (the former prime minister), who is currently the first vice president of the aforementioned bank.” .[/rtl]
[rtl]And in the details of the case, the sources indicated that "the Warka Bank had previously requested the opening of a documentary credit, whereby it deposited the payment of the credit amount amounting to 5 million dollars in its current account opened in the Iraqi Trade Bank , and as the mechanism for opening the credit is that the amounts are deposited from the customer who accepts that it be paid to the correspondent bank (the foreign bank), and the transfer is made from the returnee's insurance account to the Trade Bank of Iraq, without obtaining the approval of the bank, since the credit was due by its deadline and according to its terms.[/rtl]
[rtl]And she continued, “After that, the Warka Bank requested a withdrawal of the amount, despite its deposit, for the purpose of paying the credit opened in their favor, as the Iraqi Trade Bank is supposed to refuse to accept the Warka Bank's request to withdraw the amount of $5 million deposited in its current account, as explained above. In order not to waste and lose the bank's money, since it was paid to the foreign bank, and there is no guarantee of recovering the amount from the Warka Bank.

 

And she added, "The Iraqi Trade Bank, represented by Mrs. Zainab Rafiq, approved the Warka Bank's request, as the Warka Bank withdrew the amount of $5 million from their current account (the bank was supposed not to approve the Warka Bank's request so that it would not become a waste of public money) as it The Iraqi Trade Bank, by paying the amount to the Warka Bank, without having a balance, and without guarantees or papers proving the Warka Bank's obligations towards the bank, such as a contract, a bill of exchange, a check or something else, and this is a risk that has put the bank in the trap of wasting public money.[/rtl]
[rtl]And the sources pointed out that "the Iraqi Trade Bank filed a civil lawsuit against the Warka Bank to inform them that it had paid the amount of credit from its own funds, because the sums deposited with it as trusts from the Warka Bank were withdrawn under the approval of Zainab Rafiq Shubar.”[/rtl]
[rtl]The sources also explained, “A judicial decision was obtained many years ago in favor of the Trade Bank of Iraq, but the amount has not been paid until now, as since then no legal action has been taken against Zainab Rafiq, as a result of her violation, which led to a waste of public money.”5 One million dollars, as a result of the political support that stands behind her, represented by Adel Abdul-Mahdi, and it was necessary for an investigation committee to be established against the employee Zainab, and for her negligence and charging her with the required amount to be an example and a lesson for everyone who does not protect or preserve public money.” And the sources also indicated, “The amount is still

A debt owed by the Warka Bank was restricted, and instead of holding the employee Zainab accountable, she was dispatched to London on a trip that cost 10 thousand pounds without achieving any significant public benefit.[/rtl]
[rtl]The sources concluded by affirming that "Zainab Rafiq holds a certificate from the sewing institute, but no one dares to shorten her and remove her.. The reasons are known, of course."[/rtl]
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