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Private banks invokes the central bank to stop the lawsuits against it are threatened with bankruptcy
Monday, October 26.2015 at 11:58
Called on the Iraqi private banks, the Central Bank of Iraq to support its position to instruct the judiciary to suspend prosecutions for managers Commissioners and heads of boards of directors by the integrity Court, in spite of all the requirements of the external switch banks are met, including the receipt of transactions and documents from the customer (importer).
And ensured that these banks in a letter submitted to the Iraqi Central Bank Governor to an improved relationships with meeting its observations about the risks to the financial positions of banks as a result of the imposition of the recent financial fines by the size (CBI), which amounts are up to each to the equivalent of 40 percent of the total capital of these banks. "
and confirmed that banks in the mission "that the bank is an intermediary between the local importer and between the Central Bank by entering into sale and purchase of foreign currency window to the central bank after studying the applications submitted to him and then made the process of transfer of funds through banking channels to correspondent banks any foreign bank, any bank Source or last beneficiary.
"As confirmed private banks it stems in claim through the vision of the Central Bank as a father and shepherd and savior and sanctuary and through the main function in addition to ensure currency stability and achieve internal and external balance and the issue of currency, management and the State Administration reserves of gold and silver as well as contributing to the accelerating growth Economic and raise the standard of living by providing financial and monetary resources for development in accordance with the means available.
"She banks hope that the central bank with the help of banks to overcome the ordeal and stand with them as a sponsor of her career to strengthen the liquidity of banks and ensure the safety of its performance and maintain the integrity of their financial positions considering that the banks are hand sound Central Bank in the performance of its functions and access to the different development of the economic structure of the country segments of society as a sound and healthy banking system would work in the country's economy service.
"She said banks in the mission" that permits laid the fine was provided by the banks themselves and pro-received by the Central Iraqi on the dates marked them as it is not the duty of matching banks amounts customs declarations that prove the entry of goods across the border crossing points where the absence of the health of the issuance of such permits are located outside the boundaries of private banks requirements as the customs Altsrihh not of remittances import requirements or letters of credit because they are issued After that contained the goods to the border crossing points and authorship that it is the responsibility of customs in addition to that the banks do not bear the responsibility of forging some permits in the case of hindsight.
"On a related issue demanded banks that have branches in Kurdistan that the province of the central bank by clicking on the branches in Arbil and Sulaymaniyah in order re-launch of deposits in place to have as a property of the depositors and not the property of the banks, according to applicable laws and considering that the deposits it is only the money entrusted to it by individuals and bodies to the bank that a recent undertakes no bank their response to them or refund an amount equal to her upon request and under the conditions agreed upon, we find that a sub The central bank in Erbil and Sulaymaniyah are called upon to refund these deposits to banks that belong to it these deposits, totaling about five trillion dinars.
For his part, said financial expert banking, the International Union of Arab Bankers member Sadiq al-Shammari, "The Governor of the Central Bank of Iraq Ali Mohsen Keywords was responsive to proposals of private banks at the meeting, which was compiled by him, understands with the content of the message you gave him from seeing (CBI) the vital role posed by the private banking sector in the stability of the market.
"Shammari said that" everyone thinks that the cases brought before the courts on the private banks, which coincided with the fines imposed by the series drain a large volume and a negative impact on the cash liquidity and its ability to fulfill its commitment towards its customers, and that such actions harm the work and performance of the banking sector in terms of reputation, which does not stop at the borders of its clients inside Iraq but harm extends to the reputation front Correspondence global banks that are wondering about the substance of such legal proceedings or financial fine imposed by the monetary authorities, something which we have called the meeting to activate the work of the competent court in financial irregularities and disputes between banks and the Central Bank of Iraq. "
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Monday, October 26.2015 at 11:58
Called on the Iraqi private banks, the Central Bank of Iraq to support its position to instruct the judiciary to suspend prosecutions for managers Commissioners and heads of boards of directors by the integrity Court, in spite of all the requirements of the external switch banks are met, including the receipt of transactions and documents from the customer (importer).
And ensured that these banks in a letter submitted to the Iraqi Central Bank Governor to an improved relationships with meeting its observations about the risks to the financial positions of banks as a result of the imposition of the recent financial fines by the size (CBI), which amounts are up to each to the equivalent of 40 percent of the total capital of these banks. "
and confirmed that banks in the mission "that the bank is an intermediary between the local importer and between the Central Bank by entering into sale and purchase of foreign currency window to the central bank after studying the applications submitted to him and then made the process of transfer of funds through banking channels to correspondent banks any foreign bank, any bank Source or last beneficiary.
"As confirmed private banks it stems in claim through the vision of the Central Bank as a father and shepherd and savior and sanctuary and through the main function in addition to ensure currency stability and achieve internal and external balance and the issue of currency, management and the State Administration reserves of gold and silver as well as contributing to the accelerating growth Economic and raise the standard of living by providing financial and monetary resources for development in accordance with the means available.
"She banks hope that the central bank with the help of banks to overcome the ordeal and stand with them as a sponsor of her career to strengthen the liquidity of banks and ensure the safety of its performance and maintain the integrity of their financial positions considering that the banks are hand sound Central Bank in the performance of its functions and access to the different development of the economic structure of the country segments of society as a sound and healthy banking system would work in the country's economy service.
"She said banks in the mission" that permits laid the fine was provided by the banks themselves and pro-received by the Central Iraqi on the dates marked them as it is not the duty of matching banks amounts customs declarations that prove the entry of goods across the border crossing points where the absence of the health of the issuance of such permits are located outside the boundaries of private banks requirements as the customs Altsrihh not of remittances import requirements or letters of credit because they are issued After that contained the goods to the border crossing points and authorship that it is the responsibility of customs in addition to that the banks do not bear the responsibility of forging some permits in the case of hindsight.
"On a related issue demanded banks that have branches in Kurdistan that the province of the central bank by clicking on the branches in Arbil and Sulaymaniyah in order re-launch of deposits in place to have as a property of the depositors and not the property of the banks, according to applicable laws and considering that the deposits it is only the money entrusted to it by individuals and bodies to the bank that a recent undertakes no bank their response to them or refund an amount equal to her upon request and under the conditions agreed upon, we find that a sub The central bank in Erbil and Sulaymaniyah are called upon to refund these deposits to banks that belong to it these deposits, totaling about five trillion dinars.
For his part, said financial expert banking, the International Union of Arab Bankers member Sadiq al-Shammari, "The Governor of the Central Bank of Iraq Ali Mohsen Keywords was responsive to proposals of private banks at the meeting, which was compiled by him, understands with the content of the message you gave him from seeing (CBI) the vital role posed by the private banking sector in the stability of the market.
"Shammari said that" everyone thinks that the cases brought before the courts on the private banks, which coincided with the fines imposed by the series drain a large volume and a negative impact on the cash liquidity and its ability to fulfill its commitment towards its customers, and that such actions harm the work and performance of the banking sector in terms of reputation, which does not stop at the borders of its clients inside Iraq but harm extends to the reputation front Correspondence global banks that are wondering about the substance of such legal proceedings or financial fine imposed by the monetary authorities, something which we have called the meeting to activate the work of the competent court in financial irregularities and disputes between banks and the Central Bank of Iraq. "
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