Elimination eliminates the tutelage of the Central Bank of the Warka Bank

Elimination eliminates the tutelage of the Central Bank of the Warka Bank




Writings
Tuesday , March 12, 2013
It's arbitrary decision as he said .. Has canceled Judicial Council Iraqi Supreme tutelage CBI on Warka Bank, which lasted a whole year right through damaged bank and depositors in him and in the Iraqi economy.
learned (writings) that the discriminatory at the head of the resumption of Baghdad - Rusafa Council Supreme Judicial had decided to cancel the tutelage of the central bank Warka Bank after hearing chaired by President Jaafar Hassan Ali and membership deputies gesture Hamel Ajili and Najim Abdullah Mohsen.
said the discriminatory in its resolution, obtained by (writings) that "in 29 - 2-2012 board decided CBI put guardianship of Warka Bank Investment and Finance .. and that's where this decision arbitrarily led to damage the interests of the bank and the depositors and customers and shareholders in the capital and the banking sector and the national economy .. and after checking the body in the central bank's decision has decided to accept the appeal decision guardianship after it found that the ruling is incorrect and contrary to law because the bank Central when he decided to put guardianship did not take into account the provisions of the law or the basis on which calls for taking as he did not take the necessary measures to provide liquidity to the bank, although it is one of his duties. "
said the discriminatory in its resolution that "the Ministry of Finance may have contributed to its proceedings of the withdrawal of government deposits from private banks in aggravate the financial situation of the Warka Bank because it was the mainstay of its liquidity cash .. also said the central bank did not take the necessary measures to improve the situation of the bank, despite this from his responsibilities as not give him credit required to get out of its financial crisis and urged the commissions set up by the Bank to address the financial situation Bank of Warka. "
and concluded Authority to say in conclusion, "and thus became central bank's decision to impose trusteeship bank free of isnads legal was decided to cancel the trusteeship."
was the Iraqi Central Bank decided to put his tutelage on the Warka Bank one of the largest Iraqi banks with 130 branches across Iraq because of marking some of the problems in financial dealings.The bank said that imposing guardianship on the Warka Bank for Investment and Iraqi funding came to save him from some of the problems suffered by. The main tasks of the central bank in the conduct of monetary policy in the country and raise the level of values ​​the Iraqi dinar and tackle inflation.
said the deputy governor of the Bank of Iraq the appearance of Mohammed Saleh said that "the central bank to impose his tutelage on the Warka Bank to help him overcome his problems," noting that "the bank exposure to the problem and we look closely now assets, and work is continuing it did not close. " He explained that "the Warka Bank of large banks and very good and has many branches, and guardianship means the temporary administration of the bank," and expressed the hope that "back Warka Bank to normal after the end of investigations."
and continued that "trusteeship under the law is 18 months, renewable for 18 other, "revealing that" the bank stumbled in dealing daily due to a section of his dealings outside his control, including the withdrawal of the Iraqi government to deposit him three years ago. "
In response to a surprise shown by Iraqi Finance Minister Rafie al-Issawi's decision trusteeship Warka Bank without being informed personally , Deputy Governor of the Central Bank that "there is confusion in the central bank law occurred in articles 59 and 66," noting that "gave an explanation of the Minister of Finance and the latter expressed his conviction." He said.
expressed Finance Minister Rafie al-Issawi in a press statement surprise decision CBI put Warka Bank under guardianship without coordination and the approval of the Ministry of Finance.
says CBI that Article 59 of its law allowing him a trusteeship on banks which is about the appointment of management Temporary any bank get the financial problems, while Article 66 of the law that after being appointed guardian central bank can seek through the Central Bank decision to request from the Minister of Finance to save the bank in case it was found that there is a possibility to save him.

..

[You must be registered and logged in to see this link.]

Thanks Rocky.