Central bank: Warka Bank will exercise its activities after rehabilitation

01/31/2016 15:30



BAGHDAD / Obelisk: the central bank announced on Sunday, for allowing the Warka Bank engage in banking activities after rehabilitation, including the entry of the sale and purchase of foreign currency window.

The bank said in a statement that "Based on the decision of guardianship for the Warka Bank lifted in accordance with the decision of the Financial Services Court No. 5 / Financial Services / 2013 in the September 92 013, and achieve the goal of monetary stability and soundness of the banking system and out of the role of the Iraqi Central Bank to maintain confidence in the banking system Iraqi and for the purpose of enabling the bank to play its role actor with commercial banks operating in Iraq announce his support for the rehabilitation of the Warka Bank for Investment and Finance. "

He added that the bank "Warka Bank will be allowed to exercise all banking activities, including entering the sale and purchase of foreign currency window, similar to other banks operating in Iraq to improve its resources and service the Iraqi economy."

The central bank announced on the fifth of March 2013 on the status of the Warka Bank under guardianship following the failure of talks with Standard Chartered Bank, which began in April 2011 to buy a stake in it after suffering a financial crisis that summoned.


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