Opps looks like Warka Bank is in deep doggie do

Central Bank warns Warka Bank liquidated in the event of non-payment of 200 billion dinars
Monday, December 31 1 / December 2012 11:15

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{Baghdad: Euphrates News} Central Bank of Iraq for directing an ultimatum to the Warka Bank liquidated in the event of non-payment of the amount agreed upon the filing of {200} billion dinars.

A statement by the Information Office of the Central Bank received and Euphrates News Agency {} copy on Monday that "the Central Bank confirmed that the deadline of payment expires today and according to what has been agreed upon in the atheist th of this month, otherwise the bank will take the necessary measures to eliminate him."

The CBI has called Warka Bank to provide financial resources available to the bank to resolve the problem since last March and discuss the options of the KPMG accounting and their representatives and provide financial resources available that shows the ability of the Warka Bank to resolve the problem seriously and decisively that are strengthening that documents official.

The CBI decided early last March put his tutelage Warka Bank due to the deterioration of its financial policy, and imposing guardianship came to save him, according to the Central Bank.

The central bank says that Article 59 of its law allow him to develop custody banks, which is about the appointment of an interim administration for any bank get its financial problems.

As Article 66 of the Law of the Bank were to be guardian after being appointed by the central bank can be sought through the Central Bank decision to request from the Minister of Finance to save the bank in the case found that there is a possibility to save him. Ended


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