Turki show dissatisfaction with the decision of the Court of integrity and warns of the Iraqi economy's vulnerability to shake "inappropriate"

May 29, 2013



warned the central bank governor Agency Abdul Basit Turki, Wednesday, subjected the Iraqi economy to shake reflected improperly on the process of attracting foreign investment and encouraging, expressing dissatisfaction with the actions taken on bringing in a number of heads of boards of directors and managers of Commissioners in the sector banking without being there to move any complaint against them.

The Integrity Court has sent a notification to attend to managers of Commissioners / 27 / private banks to record their words Kmthim in cases did not disclose.

He said Turkish through a letter sent to the President of the Supreme Judicial Council Hassan Humairi and received / Baghdadi News / copy of which was that "the result is that we fear the fact is that driving it to mix in securities between believe بتقصيره, and among other men proved their devotion and seriousness in support of the Iraqi economy and were keen to professional reputations in light of the volatility of the circumstances and the diversity of temptations, "expressing his" dissatisfaction with the actions taken on the introduction of a number of heads of boards of directors and managers of Commissioners in the banking sector without being there to move any complaint against them.

He pointed out that "such a decision could lead to a shake in the economy is reflected improperly on the process of attracting foreign investment and encouraging," explaining that "it was best for the entire previous period is an attempt to repair, restoration and overcome mistakes and try to keep الطارئين for this sector of the parasites, users and owners Profit regardless of its source, the central bank was not envisaged in دعاواه brought before the courts and that have not seen them so far, unfortunately, any suit only serves this sector.

Turki called "the head of the Supreme Judicial Council to take the appropriate decision on the subject of the recent decision to bring in is most likely year for banks to request highlighting their documents on transactions entry window sell the currency (auction) without the presence of the issue inevitably from the central bank.


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Central Bank of the Supreme Judicial Council: Running low hurt efficient, fair and cause a jolt to the economy



05/29/2013 21:52


Range-Presse / of Baghdad,

Expressed the Iraqi Central Bank, today Wednesday, "non-his satisfaction" of measures followed by the the Supreme Judicial Council b "call the a number of his senior staff," while the warned of the occurrence of "jolt" in the Iraqi economy a result of of this resolution, stressing that it's going to hurt "the efficient and disinterested" more from the the abuser.

The governor of the Iraqi Central Bank and the Agency Abdul Basit Turki said in a statement addressed to the Supreme Judicial Council and received a (long-Presse) a copy of that "by virtue of our legal and professional offer you the perspective of the central bank and lack of satisfaction with the measures taken with regard to bringing in a number of heads of the Board of Directors and managers of Commissioners in the sector banking without there being a move to any complaint against them by the bank. "

Turkish and added that "the result is that we fear the fact that it leads to confusion among those papers believe بتقصيره and among other men proved their dedication and seriousness in support of the Iraqi economy and were keen to professional reputations in light of the volatility of the circumstances and the diversity of temptations."

He continued that "the best full was in the previous period is an attempt to repair and restoration and overcome the mistakes and try to keep الطارئين for this sector of the parasites, users and owners profit regardless of its source," adding, "It was not the central bank envisaged in the lawsuit brought before the courts and that have not seen them unfortunately limit Now any suit, but that trim the sector. "

He pointed out that "the central bank continues to audit all transactions and all the banks in cases where estimated that the offense had to be presented to the judiciary will not hesitate about it."

And between the that "the the recent decisions outgoing from the bank liken بالعامة for the banks to the request of to highlight the their documents on coefficients their incomes a window sell the currency (UAE Time) without the presence of the issue of inevitably from the central bank Multi We wish of you personally It is your esteemed Council take the appropriate decision to stop it now and of investigating the its source according to the mechanisms the approved from the before you, particular the ".

He warned the Turkish Supreme Judicial Council, that "such a decision could lead to a shake in the economy and inappropriate to attract foreign investment and encourage," Msttrd that "transforms our efforts are all in the field of rehabilitation and construction of this sector to a mere resolutions approaching revenge."

He emphasized that "this hurts business man, fair and efficient, which are filled with their corridors of Iraqi banks now more than what hurts the abuser or manipulated in order."

And the Turkish seal his statement, addressing the of the Supreme Judicial Council saying, "We and the banking sector awaiting إجراءاتكم in this regard".

And was a member of the Integrity Committee the parliamentary Jawad al-Alshahyla, 04/09/2013, that "the ten tons of gold stolen from the the Central Bank" the Iraqi during the end of the year the past, and confirmed that the the current presidency of the Bank "embroiled" to those theft, and while pointing out to near the the detection about the "the largest steal "in the bank has got through for the past few days, the President of accused the government of Nuri al-al-Maliki b" Deportation "former governor of the Bank of Sinan al-Shabibi" because of his refusal to lending to the government, "sums of money" outside the framework of the law. "

The fact-finding committee in matches Development Fund of Iraq revealed, on Monday, (April 8 2013), the central bank sold during the past six years in the auctions process conducted by about 207 billion dollars, equivalent to 56% of the revenues of Iraq's oil in those years, and in confirmed that those sales were many times more than you need the local market, they revealed that more than half of those sales went to specific banks poured their purchases from the bank in the Gulf and Jordan.

He accused the Congress and politicians and economists Central Bank of Iraq over the past months, burn "an average of four billion dollars a month in an auction of hard currency for the benefit of ten banks, mostly with capital Gulf, you buy a day most of the claims of the Central Bank of hard currency and make a profit overcharge up to 6% including them control of the Iraqi economy. "

Accused the General Authority for the North Bank for Finance and Investment, on the seventh of April 2013, the CBI not to meet the needs of the Iraqi market of hard currency over the past five months and refer it the responsibility of the private banks, while confirming that Iraq needs to pump nearly $ 300 million in the market daily to meet needs of the currency in the currency the central bank when he criticized the remarks they promised to attack him and "stems from ignorance and lack of knowledge of monetary policy."

The Cabinet decided to Iraqi (16 October 2012), the prime BSA Abdul Basit Turki functions of the central bank governor and the agency rather than the Governor of the Bank Previous Shabibi on charges of issues of financial and administrative corruption in the bank, especially in operations Auction dollars, but the something that did not occur to the work of the Bank and currency auction whereas the exchange rate of the Iraqi dinar a significant decline against the dollar jumped from 1170 dinars to the dollar in the fall of 2012 to 1270 dinars to the dollar in April 2013.

And the Fund was Male in a report issued in the (21/03/2013), Following the end of consultations were conducted in Amman between the delegation of from the Fund and an Iraqi delegation under the chairmanship of-ware planning Ali Shukri, and viewed (Range-Presse) on it "occurrence of an improvement in the financial sector,", to But he stressed that he what still "need to the efforts of is greater than before the of the Central Bank of in the revision of Tools of monetary policy and strengthen banking supervision, and to accelerate re-structuring of the banking system".

The International Monetary Fund (IMF) called the CBI to "take measures to gradually towards the liberalization of foreign exchange through auctions held by the Bank so as not to repeat disorders suffered by the financial market in the past year."

The Fund stressed that the establishment of a national banking system requires the abandonment of the current model, which is controlled in which weak banks by state-owned receive preferential treatment apart from private banks, "calling on Iraq to do to strengthen public financial institutions to ensure efficiency and transparency in the use of oil revenues.


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Association of Private Banks: proceedings of the Supreme Judicial Council right مدرائنا to opaque and illegal
30-05-2013 12:54 PM


Baghdad (news) and the Association of private banks described the Supreme Judicial Council proceedings against a number of managers private banks Balmpehma and illegal.

The head of the Association Abdul Aziz Hassoun said in a statement (of the Agency news): The Association and a number of private banks surprised the phenomenon is unprecedented was summoned heads of boards of directors and managers of Commissioners for private banks as defendants to appear before the court of inquiry relevant to issues of integrity without the knowledge of who is responsible for these banks is Bank CBI.

He added: Association believes that this action is illegal, particularly as it lacks the means regular charges and professional communications without taking into account the importance of the sites against her and the impact of its vital role in the functioning of the economic activity in the markets and in Iraq in general
Hassoun stressed: that these measures will affect the citizen through Matffersh from the effects of severe negative impact on the stability of the market, which in turn affects the overall economy of the state, who desperately need in these conditions for sustainability and in order to achieve the general goals.

It is noteworthy that the number of private banks amounting to 42 banks spread across Iraq and outside the branch network exceeding 500 branches and number of employees up to (12000) member, the total recapitalization of private banks operating in Iraq more than 8 trillion dinars, according to statistics the Association of Banks until the month of April It also manages private banks and private sector deposits of up to 10 trillion dinars. / End / 3.'s. m /


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