CBI begins to pay depositors Warka Bank

28/05/2012 09:33

Baghdad, May 28 (Rn) - The Central Bank of Iraq, on Monday, he began to pay small depositors Warka Bank for Investment Al-Ahli, who suffered a financial crisis summoned and placed under guardianship. and decided Central Bank of Iraq beginning of March last to develop and guardianship to the Warka Bank because of the deterioration of fiscal policy , the bank said that the imposition of guardianship on 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. Deputy Governor of Bank of the appearance of Mohammed, told the Kurdish news agency (Rn) that "there is in payment to small depositors Bank Warka al-Ahli and this payment depends on the rate of sale of real estate and some property belonging to the bank. " said Deputy Governor of the Bank that "Warka Bank is still under the tutelage of the Central Bank which is expected to report Sergeant Financial to decide the possibility of the return the bank to work or not." and sought the Warka Bank, according to economic reports to out of its financial crisis by entering Bembagesat with Standard Chartered Bank British to sell a share of the shares, but the talks 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 about the widening phenomenon of smuggling hard currency, especially to Iran, facing international sanctions. , says Central Bank of Iraq that the article 59 of its law permits him put guardianship of banks which is about the appointment of an interim administration for any bank you are financial problems.According to Article 66 of the Bank Act to be appointed guardian after the central bank could seek through the Central Bank's decision at the request of the Minister of Finance to save the bank in case found that there is a possibility to save him.