CBI: financial watchdog report Warka Bank completed soon

 26/08/2012

Baghdad August 26 / August (AKnews) - The Iraqi Central Bank, Sunday, near the completion of Sergeant of the report on financial at Olokue Bank, which was placed under trusteeship in March last after the deterioration of its financial position.

The Iraqi central bank decided early last March put his tutelage Warka Bank due to the deterioration of its financial policy.

The bank said that imposing guardianship on the Warka Bank came to rescue him.

The main tasks of the central bank in the conduct of monetary policy in the country, and raise the level of the value of the Iraqi dinar and tackle inflation.

The deputy governor of the Bank the appearance of Mohammed, told the Kurdish news agency (Rn) that "foreign checker is still being discussed for the Warka Bank's assets and expect to be finished preparing the report on the status of the bank soon."

He explained that "the continuation of the work of the bank or not will depend on the financial watchdog report," noting that "the process of paying creditors of the bank are still ongoing, particularly small depositors."

Warka Bank sought, according to economic reports to emerge from the financial crisis through enter Bembagesat with the British Standard Chartered Bank to sell a stake of its shares, but the talks reached an impasse.

The decision comes a trusteeship on the Warka Bank in the central time enter a new mechanism requiring the withdrawal of foreign currency on the basis of the importance of development projects in the country, having spread news about the spread of the phenomenon of smuggling hard currency, especially to Iran, which is facing international sanctions.

The central bank says the Iraqi Article 59 of its law allow him to develop custody banks, which is about the appointment of an interim administration for any bank get its financial problems.

And Article 66 of the Bank Act that after being appointed guardian central bank can be sought through the Central Bank decision to request from the Minister of Finance to save the bank in the case found that there is a possibility to save him.

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Finance Committee government is trying to undermine the independence of the Central Bank

26/08/2012

BAGHDAD / JD / .. Parliamentary Finance Committee unveiled the government's attempts to undermine the independence of the central bank.
He said the Commission's decision Iraqi List MP Ahmed electrodes / JD /: "The numerous attempts by the government is seeking to undermine the independence of the central bank." (To him).
The electrodes did not reveal what attempts by the government to control the central bank.
The government has denied seeking to link the bank .. The Secretary General of the Council on the Keywords in an earlier statement that "the Iraqi government did not ask for linking the central bank council or even trying to weaken its independence."
The head of the Iraqi Council of Representatives Osama Nujaifi stressed the need for non-subordination of the bank to the government, so as to prevent the seizure of Iraq's money or the implementation of international judgments issued against him by the creditors.
The parliamentary Finance Committee has warned of the danger of attempts on Iraq reserves of $ 64 billion.
The Nujaifi sent a letter to al-Maliki, after the authorization granted by the Federal Court for the owners control over independent institutions and personal attached to his office, asking him not to interfere in matters of the central bank and the statement of the functions and duties of this bank, which is one of the independent institutions.
The House of Representatives revealed his conception of the documents and recordings of well-known politicians likely involved money laundering and deposited in the banks of some of Iraq's neighboring countries.
The Finance Committee was held in the Iraqi parliament held a press conference a few weeks ago, made the involvement of (5-6) political figures with money laundering.
In a statement to a member of the Finance Committee parliamentary deputy state law Haitham al-Jubouri / JD /: The committee concluded documents and recordings of a number of politicians accused of money laundering and deposited in banks neighboring Albuldna ".
Jubouri said that "politicians involved money laundering operations have deposited large sums of money in the banks of the UAE, Jordan and Lebanon."
He believed not familiar with the central bank governor these breaches and mafia money laundering completed in collaboration with networks within the bank.
Jubouri revealed "for the formation of a committee of parliament soon, based on Article 103 II of the Iraqi Constitution, to uncover the truth of the names involved money laundering, Mtdarka: But there are still some doubts, you should make sure the archives and detailed information.
He suggested a member of the Finance Committee to parking big heads behind these mafias.
The Iraqi government has demanded that the Central Bank to slow down the process of printing currency and put it early in 2013, according to U.S. Bank officials.
The central bank is an independent body, founded in 1947 by a Royal Decree and was formerly called the National Bank of Iraq. / End / 11 n

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Director of private banks: the central bank obliged banks to provide data for the activities of its customers to the Tax Authority

 26/08/2012

Baghdad (news) .. The Executive Director of the Association of private banks Abdul Aziz Hassoun, asked the central bank to private banks to provide data private activities of its customers to the general taxes in order to pay off their tax fee.
The Goldfinch (of the Agency news) on Sunday: The process is not to provide complete information to detect special accounts audience of private banks as envisioned by some, but the central bank asked the depositors in banks that have number recorded in the general tax for the bank to provide specific data on the activities customers to determine the proportion of the tax due.

He added: that the central bank refuses to reveal secrets of customer is not entitled to any party to check out the information on audience banks, whether civil or public because it is illegal to explicit, referring to it regulatory process intended to see activity customer in the bank to pay what it taxes the state .

She reports claim the Central Bank of Iraqi banks to hand over complete information about customers who have a bank account to the general taxation, making experts and specialists fear of the statement of accounts for customers leads to loss of public confidence sinks civil. / End / 8. D. Q /

 

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Hassani: You must activate economic agreements with developed countries to support the national economy

 26/08/2012

Baghdad (news) .. Stressed member state law, former MP Abdul-Hadi al-Hassani, the need to implement all trade and economic agreements concluded with the developed countries, whether European or American or East Asian countries to develop national economy and promotion.
He said Hassani (of the Agency news): The article (110) of the Iraqi Constitution stressed the importance of organizing the economic relationship and trade between Iraq and the countries of the developed world through the activation of economic agreements with Europe or America or East Asian countries such as China, Korea and Japan, and continued: that do with its mission, which is intended to enter their company investment of state-building and the service sector and the training of human resources of the private sector.

He added: should benefit from international expertise in the development of economic sectors and the promotion of the private sector in order to take its role in building the state because the general government sector proved its inability to contribute to building the national economy, calling for activating all trade and economic agreements with industrialized countries to promote domestic industry as a political vision and patriotism is consistent with the strategic dimensions of the state. / end / 8. n. p /

 

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Falh: blocks waiting for the return of Talabani of the National Conference and there are positive indications to resolve the crisis

 26/08/2012

Baghdad (news) .. According to a member of a coalition of state law, MP / National Alliance / on Falh, that the political blocs waiting for the return of the President of the Republic of the National Conference, noting that there were positive indications to resolve the crisis.
And Falh said in a statement (of the Agency news) on Sunday: The President Jalal Talabani is determined to return as soon as to invite the political blocs to a national meeting to resolve outstanding differences between the political parties.

He added: There are positive signs of a convergence of views between the political blocs, especially after the launch of the National Alliance for the paper reforms.

The MP for the coalition of state law: that the National Conference will be held after the return of President Talabani and all the political blocs awaiting his return.

Included reform paper three points is inviting all political parties to review the situation in light of the political crisis experienced by the country and invited the political parties to deal with the dialogue positively and put all the files on the basis of adherence to the constitution, as well as to invite partners to discuss the important files and find solutions according ceilings time In addition to the commitment to the truce media. Finished / 2. N. P /

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