Central Bank warns banks and companies transfer from "extortion"

Sunday, March 3,




Alsumaria News / Baghdad
Iraq's central bank on Sunday warned all banks and financial transfer companies of "extortion" of their rights to obtain funds.

The bank said in a statement received by Alsumaria News that "the Ministry of the Interior spotted some elements go to several financial companies and claim that they follow the Ministry of the Interior and blackmail the owners of your financial institutions in order to take money on the pretext of the existence of irregularities in it."


The bank stressed the need to be vigilant and investigate the civilian persons who carry out the inspection and investigation and verify their identity and the existence of a judicial decision of the competent court authorizes them to conduct the inspection and investigation in the presence of forces occupying the ground before entering the headquarters of the institution.

The bank pointed out that "in the event of such actions to file a formal complaint to the Directorate of Crime Control of the Ministry of the Interior and directly being the body authorized by law to follow up these procedures for the benefit of the public."

The Central Bank of Iraq was established as an independent bank under its law of March 6, 2004, as an independent body responsible for maintaining price stability and implementing monetary policy. It supervises 10 commercial banks, 26 private banks and 16 Islamic banks, as well as 19 foreign banks. 6 financial institutions and 31 financial transfer companies.

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