Parliament calls for the economy to pay the dues of the creditors of the Central Bank
Source: Neno’s Place – A Community of Reality
Parliament calls for the economy to pay the dues of the creditors of the Central Bank of Warka
Date: Monday 12/03/2012 10:10
Baghdad / term follow-up
Commission asked for the economy and investment representative central bank to pay all the money of citizens who deposited in the Warka Bank for Investment and Finance, who suffered a financial crisis, saying that many of the citizens’ complaints against the Warka Bank came to the Commission.
A member of the Committee, according to Khalil Mahma (Rn) that the government and the Central Bank take responsibility for payment of all dues citizens financial implications of the Warka Bank Ahli after suffering a financial crisis, noting that many citizens have lost their rights in the Warka Bank.
Khelil said: that many of the citizens’ complaints against the Warka Bank reached the Commission after their financial loss, because of the mistaken policy of the bank. “

Khalilzad said: that the Iraqi environment in the area of ​​banking business is one of the lush environments in the region through the profits they get from the citizens. He said
In the meantime, slammed by the Economic Committee in the House of Representatives Nora Salem Albjara central bank’s decision to impose custody of the Warka Bank and described it as “wrong and urgent.”
The Albjara according to the Agency (news): The imposition of the trusteeship by the Central Bank to Warka Bank executed trust between him and the private banks for the time which must be supported by those banks and exploitation in the financing of investment projects of the country.
She Albjara: This decision was urgent and wrong of by the Central Bank and not in his time, as it would limit the freedom of private banks, calling for support of private banks everything they need for their contribution to the development of the country’s economy.
She noted that the Finance Minister Rafie al-Issawi told from the Jordanian capital Amman that the ministry was not aware of this decision, and the Central Bank rushed a lot in doing so. For his part, described the Finance Minister Rafie al-Issawi decision to the CBI last to impose its guardianship and financial management at Warka Bank to “non- legal.
“The central bank had announced on the status of the Warka Bank under trusteeship after the failure of talks with Standard Chartered Bank, which began in April 2011 to buy a stake in it, stressing that it will set a new administration soon.
It is noteworthy that the Board of Governors in the Iraqi Stock Exchange canceled the listing of Bank Warka from the market, in accordance with paragraph IX of Article V of the instruction number three amended for the year 2011, which provides for the write-off company from the listing if the stoppage of circulation for six months without taking appropriate action to appeal. and Warka Bank for Investment and Finance, which was established in 1999, (350) ATMs in all parts of Iraq.
sought Warka Bank, according to economic reports to emerge from its financial crisis by entering into talks with Standard Chartered Bank British to sell a share of the shares, but the talks have reached a dead end.
The decision to place custody of the Warka Bank at a time enter the central new mechanism requiring the withdrawal of foreign currency on the basis of the importance of development projects in the country, after news spread of the breadth of the phenomenon of smuggling hard currency, especially to Iran, facing international sanctions.
Revealed the Finance Committee representative for decision by calling the Iraqi Central Bank Governor Sinan Shabibi to discuss the financial crisis that hit the Warka Bank and the National mechanism to bring him back on track. and the central bank decided last week to develop and guardianship to the Warka Bank, one of the largest banks because of the deterioration of fiscal policy.
The bank said that the imposition of guardianship and the Warka Bank came to save him.
The main tasks of the Central Bank in managing monetary policy in the country, and raise the value of Iraqi dinar and tackle inflation.