Central Bank and the Bank of the economy discuss the procedures and mechanisms that will be adopted to improve the performance of the bank

06/02/2014 18:56




BAGHDAD / obelisk: discussed a number of officials of the Central Bank of Iraq, on Monday, with the chairman of the Economy Bank for Investment and funding procedures and mechanisms that will be adopted to improve the performance of the bank.

Said a statement obtained by "obelisk", a copy of the "Central Bank Governor Abdul-Basit Turki, and a number of bank officials met with the chairman of the Bank of the economy for investment and finance and chief commissioner, and discussed the procedures and mechanisms that will be adopted to improve the performance of the bank and address problems of administrative and activate its role in the field of banking business In the light of the decisions of the Central Bank of the actual task of supervising the administration to the bank. "


http://www.almasalah.com/ar/news/31272/

Central Bank puts the Bank of the economy under guardianship

 
   June 4, 2014
 

BAGHDAD ((eighth day)) _

The development of the Iraqi Central Bank, on Wednesday, Economy Bank for Investment under guardianship, while pointing to his commitment to promote and protect bank customers.

The Musdermsrfa "put the bank watchman financially to inventory the Bank's assets and put a two-step for the advancement of its final liquidation or repayment of money after his customers.

While the Association of private banks called for the central bank to help the Bank of the economy to return to the banking sector to "force".

The central bank said in a statement received by ((eighth day)) that "the central bank governor and a number of bank officials met with the chairman of the Bank of the economy and the managing director, and they discussed about the possibility of taking the necessary measures for the advancement of the bank's financial and maintain service customers."

The statement added that "representatives of the Central Bank undertook the task of overseeing the effective management of the economy, the Bank for Investment and Finance."

He continued that "in the event of insufficient assets of the bank, the central bank will work on a final liquidation of the bank after the fulfillment of the obligations of its customers."

The Bank was established to invest in the economy 22.03.1999, as has been included in the stock market on 02/01/2005, and the bank has 50 branches scattered in various governorates of Iraq, with a capital of one hundred and fifty billion Iraqi dinars. (ST)


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Lebanon's experience closest to the reality of the Iraqi banks
   

6/5/2014 0:00

 Analytical vision

Baghdad Yasser incumbent
Economists are advised of the need to take advantage of global and regional experiences that have passed the same conditions that have wracked the country in the search for solutions to intractable faced by the Iraqi economy .

He told me one day, Sheikh Abdul Aziz, the Iraqi banking Goldfinch for Lebanese banking experience , where he owns the country's most efficient global expertise and proven to overcome the economic difficulties as a result of war and its consequences and implications , and drove out the country from the brink, how?

Hassoun , trying to bring the picture and clarified in this regard , he asked me about how to help the down- one of the two men ? Astvzni question the fact that at the beginning of it , and I felt that the answer is simple, what motivated him? But soon Astdrki and tried to lured the man to know the motives beyond question I answered him by giving him a " walking stick ," he said what do you think a broken man second solution ? , When then realized that the same man to express something inside it , and the question was "a joke " to be out of it to develop solutions in perspective.

When you get out of Lebanon from its crisis , which exceeded the twenty -year-old left behind a lot of problems in the areas of project and the loss of the losses suffered by debt and burdened by their owners and that led to trying to sell everything in order to repay them but clear what happened?

Says Hassoun said Lebanese banks and as Roy has halted this decline through its initiative to lend to entrepreneurs and private interests and traceable after hired her to repay the debt and thus contributed to lift the country's economy out of the abyss and the restoration of life for all projects and those are working and producing in spite of all the circumstances that befell them and with Astmraralzerov complex , but Lebanon rebuilt its banks initiatives to maintain the stability of the economy with all the crises that passed out and even financial crises and economic crisis did not affect the exchange rate of the Lebanese pound .

Intended to display this puzzle about the experience of Lebanon in addressing crises economic They experienced the same conditions experienced by the country and still despite the reverse is to confirm what called and calling him Braalaguetsad to look at international experiences close to the reality and conditions with the aim of restoration and building our economy to the fullest .

In this regard, it is necessary to focus on the role that could be played by Iraqi banks in the economy out of its problems , and this role must be reflected in the treatment of crises experienced by some unprofitable banks and help them promote the role instead of breaking her leg a second to impose guardianship or liquidation but to raise pregnancy and that the people of the first banks to resolve the problems of their colleagues and then work together to solve the problems of society, the economy does Sistfik hibernate from their sleep , and a lesson in this puzzle is how to handle the down- one of the two men with his isnaad " Bekazh " Apeixr for the second man .


http://www.alsabaah.iq/ArticleShow.aspx?ID=72118

Central impose guardianship on the bank "for the economy, finance and investment" for failing to fulfill its financial obligations



Friday June 6, 2014 11:36



Alsumaria News / Baghdad
Central Bank of Iraq, on Friday, for the imposition of trusteeship Economy Bank for Finance and Investment, adding that he would set up committees and trusteeship composed of three people for a period of 18 months, subject to extension of its mission to prepare a report on the financial situation and the future and the future prospects for the bank.

The bank said in a statement received "Alsumaria News", a copy of it, he was "due to the deterioration of the financial Bank of the economy and its inability to fulfill its financial obligations because of mistakes and unsound practices committed by the bank and the debacle over the obligations to its customers and the aim of the safety of banking and financial system in Iraq decides to impose a trusteeship the bank. "

The bank said that "based on article 40 of the Central Bank Act of 2004, which authorized him supervisory authority and control over the banks operating in Iraq and the implementation of the provisions of paragraph 1 of Article 59 of the Banking Act 94 of 2004, which stipulates that the appointed Iraqi Central Bank and a trustee of the bank when the bank decided to that the central bank for its financial obligations when Ivy entitlements. "

The statement noted that "the central bank will form committees tutelage synthesized from three people for a period of 18 months, subject to extension of its mission to prepare a report on the financial situation and the future and the future prospects for the bank, which is under the custody of the inserts Rated for assets," noting that "the Commission will also manage the bank-style that would maximize revenue from the sale or disposition of assets and the bank reduces any losses and works to treat creditors fairly and equally. "

The statement noted that "the Bank will publish this resolution in the official gazette (facts of Iraq)."


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Bank of the economy and the rights of depositors Is trip Warka

06/06/2014


Economy Bank for Investment and Finance witnessing the beginning of the tragedy of the Warka Bank, which exceeded five years old, and the bank is unable to fulfill the Covenant is still a story in progress Pfsolha shameful yet, it is the cause of hundreds or even thousands of people who were involved in dealing with the banks, Vmsrv Warka underestimated his abilities, but fell abruptly the decisions of the government, ignored the interests of owners and depositors and creditors.

And repeated tragedy today with Bank of the economy, which was founded in 1999, and employs a set of competencies and banking expertise and multiple services and banking facilities provided by which attract the largest number of depositors who have switched today to the victims of waiting for mercy to re money to change my, due to shortfall in liquidity for cash, from easy to be addressed by giving the bank a deposit long-term help to overcome the crisis to ensure the assets of financial and in order not to repeat the problem of Warka Bank, was the Iraqi Central Bank to appoint a committee to oversee the work of the Bank of the economy, and I took receives requests for depositors and deal with it on the basis of an interview withdrawals income and here you will get the same Chaos particular that got Balorca where frozen business branches, forcing the people of the north and the Euphrates and the south to come to Baghdad to return their money.

goal of attendance is the submission of applications for this Committee and, unfortunately, will appear some cases marred by exploitation and corruption, as happened in Warka where some of the outside of the purchased assets Depositors deduct reached more than 50%, it has a 40 million dinar offer him the amount of 15 million., did not lead this guardianship to any matter in the interest of depositors, after taking their money eroded year after year, due to inflation levels which are getting louder, especially real estate prices and durable goods, It was deposited money to buy a house residential Pat Aigoy to buy a piece of land because of inflation, and in the beginning of the current year was raised guardianship for the bank, but the case has never changed is unable to meet withdrawals, and all Misamah affected is just promises and wishes, and has decision-making authority in the bank either resident outside Iraq or sitting in the offices of luxury and refrain from interview (CRM).

It has been five years and tens of billions of private money Bmodein captive in Warka Bank, procedures and the CBI did not benefit them never Every action taken is slow and does not serve the depositors.

That what is important now is to restore depositors' money which is found in the bank and we do not want to repeat the same problem again in the Economy Bank for Investment and Finance.

Notes on the treatment of central bank catastrophe small depositors in the Warka Bank to be a lesson in their dealings with the Bank of the economy:

1 mediate the leaders of the central bank in the payment of deposits and influential patronage and Almnsopeat

2 slow processing and insulting young depositors in front of the gate and leave them begging for the right bank

3 leave the manipulators of bank deposits and the purchase of small depositors cheaply

4 until now there are small depositors did not receive their deposits eaten by inflation, in addition to manipulating their accounts in amounts

5 Malkua bank participated in the last election and it was something that was not also participated son Managing Director of the Bank of the economy

6 shows a lot of customers from small depositors to heart attacks as a result of their inability to meet their financial commitments

7 non-interference by the government and not even looking into the complaints sent to the Office of the Prime Minister and the bank is working on the island of Bulwark protective ..... Peace be upon you


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