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The absence of central control of private banks .. movement of their capital in an explicit and fraud (Details)
15-11-2015 07:00 PM
It proceeded some established private banks departments under guardianship and rehabilitation by the Central Bank of Iraq, to transfer their capital to other banks and work under other labels which constitutes a violation and fraud explicit on the central bank actions that procedures routinely and ineffective look to the reduction of private banks irregularities.
According to economic sources, that the Bank of Basra departments and Bank of the economy and the Bank across Iraq and the Warka Bank has transferred their funds to other banks and continue to work speculation and financial transfers in violation of the procedures of the Central Bank.
'draws sources that these departments of these banks banks under their administrations killed in major irregularities because of their policy Finance undisciplined, which prompted the central bank to be drawn up either under Commandments or rehabilitation '.
However, the Bank of Basra which penal authority Court of Federal Discrimination ratified the Criminal Court's decision Rusafa judge jailed both the owner and director of Basra, Al-Ahli Bank ten years more to Achtlashma of 625 billion dinars from the Rafidain Bank in one of the state funds theft crimes, the Malik Hasan, the bank Ghalib Abdul Hussein Kubba still manages his money through other banks despite the central bank's decision to liquidate Basra Ahli Bank and the rule of the prison, who was convicted by Hassan Kubba.
The economy, which the Bank The Central Bank of Iraq, last year, the identification of work tasks in the economy, the Bank for Investment and Finance reality under the tutelage of the bank in order to maximize the Bank's financial resources to the limit and work to reduce losses to a minimum, as the central bank also agreed to exchange 10% of the deposits of customers in the economy and investment bank.
According to the Central Bank of the 'approval was based on the proposal of the economy, investment and finance bank regardless part of its deposits to depositors'.
Central Bank of Iraq justified the decision to impose their guardianship on «Economy Bank for Investment» because of his eagerness «For customers protect», while attributed the experts decision to the inability of some banks on the implementation of instructions «Central» to raise capital ceilings and the delay in depositors' money management.
He has the economy Bank 50 branches in Iraq and has a capital 150 billion dinars (128.8 million dollars).
But what happened is that the Bank of the economy owners took advantage of approval of the Central Bank and they act billions of dinars and take it out of the bank not to those who deserve it, preying on the consent of the bank and were able to take out these amounts to operate in other banks.
The Bank across Iraq, which put the central bank under the trusteeship in 2012 brought him in 2014 to the owner Hassan Rwina which medium tote school diploma, to transfer a lot of bank funds to other banks to work for him.
The Warka Bank, which the Board of the Central Bank's management agreed last September to rehabilitation within the stomach plan for this purpose, after that he had brought on 19 December 2012, warning of liquidation of the bank Warka Investment and Finance is not paid the amount of 200 billion Iraqi dinars, with depositors to suffer from non-receipt of their money, the founders of the bank also may have left Iraq, in addition to that there are a lot of claims made by citizens to the judiciary against the bank, as there is controversy in the ministries the letters of credit provided by the bank.
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