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Central does not preclude the imposition of the commandments of the Trade Bank of Iraq
On: Friday 23/12/2011 6:01
Baghdad / term
The Central Bank of Iraq last Wednesday and the possibility of imposing guardianship on the Trade Bank of Iraq in the event of TPI administration, unable to retrieve the rest of the bank loans obstructed. Stressing that the recovery of 50% of which is a good step.
The deputy governor of the Central Bank of the appearance of Mohammed Saleh told the Kurdish news agency (Rn) that "the Trade Bank of Iraq if it has suffered from liquidity problems are temporary and due to loans obstructed granted by the previous administration could have a central bank lending to the bank to meet liquidity after the approval of the Minister of Finance by 20% of the bank capital. "
Saleh pointed out that "if the failed bank just to recover the rest of the loan and that up to another 50 percent because of his or fall in the capital under the Banking Act puts the hand on the bank by the Central Bank shall be under the Wills and managed on behalf up to improve his or towards liquidated or improve it. "
He added that "the restoration of 50% of the loans is a good thing but the other 50% is the bank's capital is 500 million dollars and if you can not manage the bank to return them, this is something dangerous."
Saleh indicated that "the bank should seek to restore all These loans and build a new political lender provide sufficient guarantees for the future and hedge capital and hedge credit risk.
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