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Warka Bank Ahli insolvent liquidation since 2010
Saturday, November 7, 2015 at 00:00
Many media agencies published a story that, if the Central Bank of Iraq agreed in 06/09/2015, the rehabilitation of the Warka Bank Ahli under a plan prepared by him in this regard, said a source at the Central Bank that the (board of the Central Bank's management decided to approve the rehabilitation Warka Bank Ahli in the stomach plan by him for this purpose), and the Central Bank of Iraq, decided in February 6, 2015 trusteeship imposed by the Warka Bank since 2012 to find work since 2010 raise, as the Central Bank of Iraq announced (March 5, 2012) custody of the Warka Bank one of Iraq's largest private banks, following the failure of talks with Standard British Chartered Bank, which began in April 2011 to buy a stake in it after suffering a financial crisis summoned and placed under guardianship because of marking some of the financial problems in his dealings, and stressed the central bank at the time that the imposition of guardianship on Warka Bank Iraqi Investment and Finance was based on the text of article 59 of the law which allows him custody of the banks develop and include an interim administration set any bank where you get financial problems, while Article 66 of the law suggests that the guardian after he is appointed by the Central Bank could be sought through The central bank's decision at the request of the Minister of Finance to save the bank in case it was found that there is a possibility to save him.
All that is traded about Warka Bank since 2010, and so today just promises and illusions did not produce something for the benefit of depositors, Vomwal Iraqis reserved during these years has been the erosion of an important part of it because of inflation and management of the bank did not do something to them but they do not give ears to listen to the questions of legitimate depositors, although the existence of a building occupied by the Warka administration in Baghdad, al-Khilani square area Sinak a chartered an Iraqi insurance companies, the contract is renewed every regular period, and the presence of a number of employees engaged in their work regularly and receive their salaries even if it was delayed a month of days, but he did not answer what is being asked by customers word (Wait) are repeated in a dull six years ago, and when viewing humanitarian cases require the clouds find the answer ready and is subject to the bank for the guardianship of the Iraqi Central Bank, which hands the solution and connectivity, we do not know is the Central Bank of Iraq is a blessing or a curse for depositors In his statements he says he guarantor for the rights of depositors in private banks, and in his actions the public did not find only the slow pace of procedures that have not yielded nothing but a long-term promises, regardless of the texts developed by the damned (Paul Bremer) in the formulation of the Banking Act No. 94 of 2004, the priority should be given to meet depositors' withdrawals, even if subject to forced liquidation in a manner dividing the debtors are not making long topic for years.
And it is with great sadness that actually book the Iraqis depositors in the Iraqi private banks funds under the title it insolvent, and these funds are legitimate and legal funds and there is no doubt on the validity of sources, at a time is haraam wealth funds trading and washing as usual, the problem in the subject that the owners of the funds of the depositors have been subjected to various embarrassments Some lawsuits against them took place because of their inability to fulfill their obligations and the judges did not bother with the concerns of the fact that the non-fulfillment caused by the reluctance of the National Bank, while when it is reviewed judiciary regarding the establishment of claims on the private banks for not honoring tell you that the bank insolvent and under the tutelage What good stay The lawsuit afford it, and despite that the issue of the Warka Bank and other private banks in Iraq known to the majority of the public, it did not turn into a scandal like the Petra Bank, which was used as a bargaining to demonstrate the extent of corruption in Jordan and Iraq was free of corruption, and the reason is that the central bank Iraqi appears from time to time Vitmon the public that the problem is on its way to resolve although we have not seen any solutions, Vtsrih rehabilitation two months ago not accompanied by any action and the case remains as it is since 2010 and until today, and before it performs the patience of those affected, it is necessary to take action determined to address the issue and if the private banks association intercede for those banks, it should contribute to finding solutions rather than prolong the promises Kaltkhaddar.
The treatment of the administrative and financial lag suffered by private banks of obligations of the relevant financial authorities, in light of the financial crisis in our country due to lower global oil prices, which leads to a reduction of the federal budget revenues, should be those banks help to the state and not a burden so that cause the loss of local wealth through wasting depositors' money, and up to this day have not been accessible to the public the true reasons for the occurrence of some banks and civil problems of liquidity. Most of those banks enter the daily auction of the Central Bank of Iraq and you are buying dollars that earn them millions degree of risk the profitability of the amount of zero, and the lack of risk because the dollar selling prices in all more than the selling price somewhere in the central auction of Iraq, and the high demand for the dollar makes everything you buy is sold at a profit in the case, and some are talking about administrative differences from within the bank or with opponents from outside Some also talk about other reasons that are not of interest to depositors, because it is important for them is to re-money especially since most of them are not from the merchant class or of those who know how to access illegal means to rebuild their money kickbacks, must be here to wonder aloud Is that the reforms announced by Mr. packages Abadi limited to government agencies or she stretches every sector of the economy, civil Banks lagging reforms requires coverage by making them comply with the law, and accountability of government agencies supervising them about the reasons for inadequate performance and take deterrent action as corrupt require liquidation and beeping.
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Saturday, November 7, 2015 at 00:00
Many media agencies published a story that, if the Central Bank of Iraq agreed in 06/09/2015, the rehabilitation of the Warka Bank Ahli under a plan prepared by him in this regard, said a source at the Central Bank that the (board of the Central Bank's management decided to approve the rehabilitation Warka Bank Ahli in the stomach plan by him for this purpose), and the Central Bank of Iraq, decided in February 6, 2015 trusteeship imposed by the Warka Bank since 2012 to find work since 2010 raise, as the Central Bank of Iraq announced (March 5, 2012) custody of the Warka Bank one of Iraq's largest private banks, following the failure of talks with Standard British Chartered Bank, which began in April 2011 to buy a stake in it after suffering a financial crisis summoned and placed under guardianship because of marking some of the financial problems in his dealings, and stressed the central bank at the time that the imposition of guardianship on Warka Bank Iraqi Investment and Finance was based on the text of article 59 of the law which allows him custody of the banks develop and include an interim administration set any bank where you get financial problems, while Article 66 of the law suggests that the guardian after he is appointed by the Central Bank could be sought through The central bank's decision at the request of the Minister of Finance to save the bank in case it was found that there is a possibility to save him.
All that is traded about Warka Bank since 2010, and so today just promises and illusions did not produce something for the benefit of depositors, Vomwal Iraqis reserved during these years has been the erosion of an important part of it because of inflation and management of the bank did not do something to them but they do not give ears to listen to the questions of legitimate depositors, although the existence of a building occupied by the Warka administration in Baghdad, al-Khilani square area Sinak a chartered an Iraqi insurance companies, the contract is renewed every regular period, and the presence of a number of employees engaged in their work regularly and receive their salaries even if it was delayed a month of days, but he did not answer what is being asked by customers word (Wait) are repeated in a dull six years ago, and when viewing humanitarian cases require the clouds find the answer ready and is subject to the bank for the guardianship of the Iraqi Central Bank, which hands the solution and connectivity, we do not know is the Central Bank of Iraq is a blessing or a curse for depositors In his statements he says he guarantor for the rights of depositors in private banks, and in his actions the public did not find only the slow pace of procedures that have not yielded nothing but a long-term promises, regardless of the texts developed by the damned (Paul Bremer) in the formulation of the Banking Act No. 94 of 2004, the priority should be given to meet depositors' withdrawals, even if subject to forced liquidation in a manner dividing the debtors are not making long topic for years.
And it is with great sadness that actually book the Iraqis depositors in the Iraqi private banks funds under the title it insolvent, and these funds are legitimate and legal funds and there is no doubt on the validity of sources, at a time is haraam wealth funds trading and washing as usual, the problem in the subject that the owners of the funds of the depositors have been subjected to various embarrassments Some lawsuits against them took place because of their inability to fulfill their obligations and the judges did not bother with the concerns of the fact that the non-fulfillment caused by the reluctance of the National Bank, while when it is reviewed judiciary regarding the establishment of claims on the private banks for not honoring tell you that the bank insolvent and under the tutelage What good stay The lawsuit afford it, and despite that the issue of the Warka Bank and other private banks in Iraq known to the majority of the public, it did not turn into a scandal like the Petra Bank, which was used as a bargaining to demonstrate the extent of corruption in Jordan and Iraq was free of corruption, and the reason is that the central bank Iraqi appears from time to time Vitmon the public that the problem is on its way to resolve although we have not seen any solutions, Vtsrih rehabilitation two months ago not accompanied by any action and the case remains as it is since 2010 and until today, and before it performs the patience of those affected, it is necessary to take action determined to address the issue and if the private banks association intercede for those banks, it should contribute to finding solutions rather than prolong the promises Kaltkhaddar.
The treatment of the administrative and financial lag suffered by private banks of obligations of the relevant financial authorities, in light of the financial crisis in our country due to lower global oil prices, which leads to a reduction of the federal budget revenues, should be those banks help to the state and not a burden so that cause the loss of local wealth through wasting depositors' money, and up to this day have not been accessible to the public the true reasons for the occurrence of some banks and civil problems of liquidity. Most of those banks enter the daily auction of the Central Bank of Iraq and you are buying dollars that earn them millions degree of risk the profitability of the amount of zero, and the lack of risk because the dollar selling prices in all more than the selling price somewhere in the central auction of Iraq, and the high demand for the dollar makes everything you buy is sold at a profit in the case, and some are talking about administrative differences from within the bank or with opponents from outside Some also talk about other reasons that are not of interest to depositors, because it is important for them is to re-money especially since most of them are not from the merchant class or of those who know how to access illegal means to rebuild their money kickbacks, must be here to wonder aloud Is that the reforms announced by Mr. packages Abadi limited to government agencies or she stretches every sector of the economy, civil Banks lagging reforms requires coverage by making them comply with the law, and accountability of government agencies supervising them about the reasons for inadequate performance and take deterrent action as corrupt require liquidation and beeping.
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