Warka Bank Claims Court Victory

by **Rocky** Fri 15 Mar 2013, 8:16 am

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Join date : 2012-12-21

Post n°1

Warka Bank Claims Court Victory

by Rocky Fri 15 Mar 2013, 8:16 am

Warka Bank Claims Court Victory

Warka Bank has issued the following statement with regard to its legal case against the Central Bank of Iraq:

“With regards to the legal court case Warka Bank for Investment and Finance has filed against the Central Bank of Iraq
Warka Bank for Investment and Finance is delighted to inform its
cliental, shareholders and management that the Iraqi Supreme High Court
has awarded its decision in full favor of Warka Bank for Investment and
Finance confirming its judicial decision that the liquidity crisis and
events leading to Warka’s declining financial position is entirely due
to the fault, malice, mismanagement and misdirection of both the
Ministry of Finance and Central Bank of Iraq their ill actions taken
against the bank placing the full blame and cause on both the Central
Bank of Iraq and Ministry of Finance their lack to take the proper
action measurements and steps to resolve the crisis properly in
supporting the rehabilitation of the largest financial enterprise in the
country.

“Where we are delighted to add that the court decision confirms that
Warka Bank for Investment and Finance has implemented, practiced and
maintained all legal banking guidelines, protocols and regulations set
by the bylaws of the Central Bank of Iraq confirming its true innocence.

“We have posted a copy of the court’s decision to bring comfort joy
and happiness to all those whom have supported our bank, board of
directors and management.”

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