An economic condition calls for the central bank to tighten its supervision of banks in the borrowing process

An economic condition calls for the central bank to tighten its supervision of banks in the borrowing process



5/20/2015


Economic expert called on behalf of Antoine, Wednesday, the Central Bank to tighten controls on Iraqi banks in the borrowing process.
Antoine said that "banks in Iraq has controls to borrow, and the controls are to take mortgages twice the money of which the borrower, lender and the rigid and not moving assets such as real estate."
He added Antoine "The favoritism by members of the Board of Directors in banks and shareholders of the major problems that could affect the banking system in Iraq, adding," Some shareholders or board members, withdrew large loans without sufficient collateral, leading to the bankruptcy of the banks in the future. "
He pointed out that "the foreign investor, when he finds the banking system in Iraq dominated by defects and shortcomings and instability undermine confidence in investing in the country, calling on the central bank to tighten control over the banks in borrowing operations and detect deficiencies in their vaults to prevent the collapse of the banking system in the country" .anthy 29 / d 25

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Antoine said that "banks in Iraq has controls to borrow, and the controls are to take mortgages twice the money of which the borrower, lender and the rigid and not moving assets such as real estate."
He added Antoine "The favoritism by members of the Board of Directors in banks and shareholders of the major problems that could affect the banking system in Iraq, adding," Some shareholders or board members, withdrew large loans without sufficient collateral, leading to the bankruptcy of the banks in the future. "