Documents .. The judiciary ratifies the waiver of the Ashtar company in compensation of 600 million dollars from Al-Rafidain Bank
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Shafaq News/ The Commercial Cases Court of First Instance confirmed, on Wednesday, that Ishtar Gate Company waived its right to obtain a financial compensation of 600 million US dollars from Al-Rafidain Bank for the termination of a contract between the two sides on issuing and managing cards for electronic payment and collection.
Earlier today, the Second Karkh Investigation Court, which is concerned with the issues of the Integrity Commission, decided to bring in officials at Al-Rafidain Bank against the background of signing the contract of the Ishtar Gate Company.
The "Ishtar Electronic Payment Company" fined Al-Rafidain State Bank 600 million dollars after it filed a lawsuit to the competent court.
The management of Al-Rafidain Bank decided the day before yesterday, Monday, to appeal the ruling issued against the bank.
An official document issued on the eighth of this month showed that Ishtar Gateway Company for Systems and Electronic Payment Services for Money has waived the lawsuit filed against Al-Rafidain Bank.
It is noteworthy that the Iraqi Minister of Finance, Ali Allawi, decided on 3/9/2021 to refer the director of Al-Rafidain Bank to the investigation and withdraw his hand because of his signature on the “Ishtar Gateway” project for electronic payment, which does not meet the conditions and laws related to contracts.