by Rocky Wed 28 Dec 2016, 1:43 am
[You must be registered and logged in to see this image.]Banks liquidity crisis put the Iraqis under the tutelage of the Central Bank Baghdad / peace Zidane Central Bank to impose trusteeship bank Dar es Salaam and the Tigris and Euphrates rivers because of non - fulfillment of their obligations to repay deposits of citizens during the past few days, while the confirmed number of specialists in finance and business affairs, the central bank assumes what we have reached the banks because of poor oversight of its work during the past period and the large number of irregularities Finance.
Dozens of citizens demonstrating in front of the central bank during the last period as a result of Dar es Salaam refused to give them their deposits amounting to thousands of dollars.
An official source in the banking sector "long", " The central bank decided to impose a trusteeship on the bank of Dar es Salaam for investment and the Tigris and Euphrates rivers because of Aavaihma to repay deposits of citizens during the last period as a result of mismanagement , " stressing that " the central bank has in the past days by firing part of the legal reserve Dar es Salaam to depositors, but the bank can not meet its obligations. "
The source added that " the central bank will appoint two people to manage the bank Dar es Salaam and the Tigris and Euphrates directly until the disposal of the depositors problems and then decide before the liquidation , as happened with Basra bank or continue to work and raise custody , as happened with the economy the Bank."
According to Article 59 of the Banking Act No. 94 of 2004 to the central bank to appoint a trustee for the bank when it decided that the bank does not meet its financial obligations and capital of at least 5% of the minimum does not implement an order issued by the central bank , while Article 60 refers Ieian guardian for a maximum of eighteen months and impose control over the bank 's assets, books and records.
The central bank decided to place the custody of banks and the economy, development and Elaf United Investment, Basra and the Warka because of financial mismanagement and abuses that have occurred in their work during the last period to decide after a period lifted the custody of some of them after adjusting their financial situation.
On the other hand, President of the Economic Media, Durgham Muhammad Ali's "long" said that " the central bank law has to protect deposits in the government and private banks as a relevant entity in licensing and monitoring the work of banks and ensure their commitment to the standards set by the law to ensure the rights of depositors," he "it is natural to impose trusteeship on any bank violates exceeds the banking instructions or chaos performed or fail to save the rights of depositors or commit violations of the law."
He explained that " the previous directives of the Central Bank experience has frozen the assets of the public for long periods , which calls for creating flexible mechanisms to ensure the people their rights as soon as , " noting that " the mechanisms that must be taken by the central bank after the guardianship is the scrutiny of large loans and strict control over credit policies of banks with ensuring a higher level of protection for deposits. "
While the vice president of the Iraqi Economists Association, Bassem Jamil Anton said the "long" that " the many complaints by citizens to the banks and not to grant deposits them difficult and the rights of citizens in addition to the financial irregularities making the central bank intervenes to impose trusteeship , " adding that " the Central Bank He hoped that things are going these banks fairly and maintaining the rights of shareholders and depositors , but the continuation of irregularities made him take this decision. "
He pointed out that "there are successful experiments have taken place in the past to impose guardianship , such as a bank of Warka and the economy , which Sahha their forms and they continued to work after the guardianship lift", noting that " the central bank will appoint competent people to manage the banks that put them guardianship."
Anton stressed that " the weak control of the Central Bank during the last period on the banks bring them up to this point, but the day began to set conditions and they inspect all banks to prevent the fall of other banks."
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