Home
An expert explains the details of the International Agency (Fitch) report on the evaluation of the Iraqi Trade Bank
Time: 03/17/2024 20:12:48 Read: 1,716 times
{Economic: Al-Furat News} The financial expert and former head of the Financial Supervision Bureau, Salah Nouri, revealed today, Sunday, the most prominent findings in the report of the International Credit Rating Agency (Fitch) on the evaluation of the Iraqi Trade Bank. Nouri said {to Al-Furat News} that:
“The defaulted debts {loans} are subject to recovery, the
first of which is the bank’s debts to the Kurdistan Regional Government, and
this debt has been since Hamdiya al-Jaf took over the management of the bank and continues to do so, in addition to the
loans granted to many Iraqi companies supported by politicians {according to Agency information}. He pointed out,
"There are risks to the bank's ability to continue its activity due to the
loans granted and not refunded, and the
An answer will also be prepared by the bank's management to the questions and evaluation scores issued by the credit rating agency." He stated that
"the report indicated the possible repercussions of international foreign banks' reluctance to deal with the bank as correspondent banks for government imports."
https://alforatnews.iq/news/خبير-يوضح-تفاصيل-تقرير-الوكالة-الدولية-فيتش-الخاص-بتقييم-مصرف-التجارة-العراقي
Time: 03/17/2024 20:12:48 Read: 1,716 times
{Economic: Al-Furat News} The financial expert and former head of the Financial Supervision Bureau, Salah Nouri, revealed today, Sunday, the most prominent findings in the report of the International Credit Rating Agency (Fitch) on the evaluation of the Iraqi Trade Bank. Nouri said {to Al-Furat News} that:
“The defaulted debts {loans} are subject to recovery, the
first of which is the bank’s debts to the Kurdistan Regional Government, and
this debt has been since Hamdiya al-Jaf took over the management of the bank and continues to do so, in addition to the
loans granted to many Iraqi companies supported by politicians {according to Agency information}. He pointed out,
"There are risks to the bank's ability to continue its activity due to the
loans granted and not refunded, and the
government's significant interference in the bank's management decisions, especially the text in the Federal General Maronite Law that the
bank must finance part of the general budget deficit." Nouri continued, "The
weakness of the bank's management and doubts about the
credibility of the annual financial statements prepared by the bank.
An answer will also be prepared by the bank's management to the questions and evaluation scores issued by the credit rating agency." He stated that
"the report indicated the possible repercussions of international foreign banks' reluctance to deal with the bank as correspondent banks for government imports."
https://alforatnews.iq/news/خبير-يوضح-تفاصيل-تقرير-الوكالة-الدولية-فيتش-الخاص-بتقييم-مصرف-التجارة-العراقي
