Home
Parliamentary committee investigates accusations of Iraq’s Trade
Bank over lending $ 2.5 billion to Kurdistan
February 25, 2015
BAGHDAD,— The Economic parliamentary Commission announced on Wednesday has formed an investigative committee to investigate the accusations made against the Trade Bank of Iraq TBI on lending $ 2.5 billion to Kurdistan Region Government without the knowledge of Iraq’s federal government.
The committee’s member Najiba Najib said that “The Economic Committee formed an investigative committee that will be visiting the Trade Bank of Iraq to get to know the real charges against the bank of lending $ 2.5 billion for the region without guarantees.”
Najib added that “through the initial data, the accusations are unfounded, as all financial transfers to Iraq’s Trade Bank of the three branches in Kurdistan is done by the Central Bank of Iraq.”
The MP of Ahrar bloc, Yasser al-Husseini revealed Tuesday, during a press conference in Baghdad that the Director General of the Iraqi Commercial Bank, Hamdiya Jaff lend the central bank in Kurdistan region an amount of one billion and a half billion dollars without any guarantees.
Chief executive of Trade Bank of Iraq, Hamdiya Jaff denied later lending Kurdistan region $ 2.5 billion during the last period, and emphasized that any money transfer from the Trade Bank of Iraq is not directly done but through its passage in the Central Bank of Iraq.
Need to be mentioned that Kurdistan region of Iraq is witnessing an economic crisis due Baghdad had declined to pay its share in the budget to Kurdistan since February 2014.
Kurdistan PM Nechirvan Barzani said that on his visit to Turkey last week he borrowed $500 million to help pay government salaries.
[You must be registered and logged in to see this link.]
Bank over lending $ 2.5 billion to Kurdistan
February 25, 2015
BAGHDAD,— The Economic parliamentary Commission announced on Wednesday has formed an investigative committee to investigate the accusations made against the Trade Bank of Iraq TBI on lending $ 2.5 billion to Kurdistan Region Government without the knowledge of Iraq’s federal government.
The committee’s member Najiba Najib said that “The Economic Committee formed an investigative committee that will be visiting the Trade Bank of Iraq to get to know the real charges against the bank of lending $ 2.5 billion for the region without guarantees.”
Najib added that “through the initial data, the accusations are unfounded, as all financial transfers to Iraq’s Trade Bank of the three branches in Kurdistan is done by the Central Bank of Iraq.”
The MP of Ahrar bloc, Yasser al-Husseini revealed Tuesday, during a press conference in Baghdad that the Director General of the Iraqi Commercial Bank, Hamdiya Jaff lend the central bank in Kurdistan region an amount of one billion and a half billion dollars without any guarantees.
Chief executive of Trade Bank of Iraq, Hamdiya Jaff denied later lending Kurdistan region $ 2.5 billion during the last period, and emphasized that any money transfer from the Trade Bank of Iraq is not directly done but through its passage in the Central Bank of Iraq.
Need to be mentioned that Kurdistan region of Iraq is witnessing an economic crisis due Baghdad had declined to pay its share in the budget to Kurdistan since February 2014.
Kurdistan PM Nechirvan Barzani said that on his visit to Turkey last week he borrowed $500 million to help pay government salaries.
[You must be registered and logged in to see this link.]
