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After the demonstrations in front of the central bank.. Disclosure of the fate of depositors' funds in "bankrupt" private banks
1,491 economy 2022/11/14 19: 18 hs
Baghdad today-Baghdad
The Economist, Salam smeism, on Monday, the Central Bank of Iraq, responsible for the return of depositors' funds in private banks, which declare bankruptcy from time to time.
"According to the laws and economic norms, the central bank is considered the legal and legitimate reference for all government and private banks, and it is the one who grants banks permission to practice banking," smeism told Baghdad today.
"The central bank is the guarantor of all banks operating in the country, and
it is he who requires these banks to have working capital,
so the central bank must cover the losses of bankrupt banks, and return citizens' money," she added. Smeism continued,
"Recently, a bank deposit insurance company was established, which is supposed to cover 75% of depositors' deposits in banks," explaining that
"the recurrence of banking crises destabilizes confidence in the banking system in Iraq.
A number of citizens demonstrated, on Monday, in front of the Central Bank of Iraq, to demand their money deposited with al-Warka National Bank, after it declared bankruptcy.
After the demonstrations in front of the central bank.. Disclosure of the fate of depositors' funds in "bankrupt" private banks
1,491 economy 2022/11/14 19: 18 hs
Baghdad today-Baghdad
The Economist, Salam smeism, on Monday, the Central Bank of Iraq, responsible for the return of depositors' funds in private banks, which declare bankruptcy from time to time.
"According to the laws and economic norms, the central bank is considered the legal and legitimate reference for all government and private banks, and it is the one who grants banks permission to practice banking," smeism told Baghdad today.
"The central bank is the guarantor of all banks operating in the country, and
it is he who requires these banks to have working capital,
so the central bank must cover the losses of bankrupt banks, and return citizens' money," she added. Smeism continued,
"Recently, a bank deposit insurance company was established, which is supposed to cover 75% of depositors' deposits in banks," explaining that
"the recurrence of banking crises destabilizes confidence in the banking system in Iraq.
A number of citizens demonstrated, on Monday, in front of the Central Bank of Iraq, to demand their money deposited with al-Warka National Bank, after it declared bankruptcy.
