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Warka Bank: not refrain from providing the media balances, but we follow the banking rules so
2011-06-06 18:07:33
BAGHDAD (Iba) .. MALE authoritative source in the Warka Bank for Investment and Finance that the judicial decision, which obtained the by the media and communications for enabling them to withdraw amounts deposited in the current account opened at the Almsrvho a foregone conclusion because the bank did not refrain mainly for the State to withdraw its position unchanged if any another customer, whether government or private sector companies or individuals.
The source told the independent press (Iba), but Modoeitalq the availability of sufficient cash liquidity to respond to all requests for withdrawals, which may be significant to a certain extent Mamtoffer not fit with the amount of cash and cash .. Because the process of withdrawal can not be your major customers and at one time, especially government agencies that have masses of cash most, because contrary to logic and contrary to the most basic rules of banking ..
He noted that the process of withdrawing the government's funds and the consequent withdrawal of non-justification was to implement the decision illegal and unjustified issued by the Ministry of Finance of 01.15.2009 spent also not dealing with the private banks as if the private banks are not part of the economic system of the state, then that private banks established in accordance with the provisions of the Companies Act and in accordance with the provisions of the Banking Act and the Help the Iraqi Central Bank, which operates under the supervision and control of all banks and financial institutions in Iraq.
The source was the decision of the Ministry of Finance said a negative impact on all banks have had their government's funds, which was also deprived of dealing with any department Overnmipozbb resolution disorder and confusion in financial transactions because most Tllk assets when it was deposited in private banks was a guarantor of open documentary credits related to foreign trade It was also a guarantor for bank guarantees concerning Tllk circles ..
He noted that the decision has caused the other hand, negative effects on private banks to withdraw stocks them and emptying the coffers and depriving them of an important source of liquidity, who is considered the most important elements of work and durability .. also make private banks is suspicious about, even before the private sector, which resorted to domestic banks starting to take advantage of banking systems and advanced banking technology, which makes the beneficiary feels part of the civilized world, where most of the banks sought, including the Civil Warka Bank to bring in and the application of the latest means of advanced banking technology, used globally ..
The source stressed that the embargo is to be the Ministry of Finance proactive to support the private banking sector because it is relying upon at this stage to be a tributary of the Iraqi economy because Iraq became a state that implements the concept of capital and therefore, the private sector is the backbone of the economy of any country and the private banking sector is the backbone of the private sector ..
He stressed that the sudden withdrawal and the justification for all government funds and at one time is not workable for the simple reason that private banks are not funds secretariats of liquidity can from her and let her be withdrawn by the sudden, because this is not logical and can not any banks world no matter how big his name and size to respond to all Withdrawals simultaneously.
He said that banks are financial institutions and intermediaries for handling traffic exchange and it is logical that banks currency cash reserves deposited with it fully but to prove the form of restrictions and balances to ensure the right of depositors either a cluster of cash is moving of course ..
He may be withdrawing some of those stocks, or in stages, but would force government departments to withdraw all assets from one time and force the banks to respond to all processes and applications for the sudden withdrawal, it is natural can not any bank that meets all Tllk withdrawals, and certainly there will be discounts legal or judicial in or another ..
He stressed that the Warka Bank did not refrain from payment requests or responding to withdrawals Mtalkabkdr What is the process of organizing the withdrawals and mechanisms Alsahbutan supervision and informed the CBI certainly so that the central bank urged government departments to exercise restraint by dragging and lack of pressure on the bank in this way because the central bank financial institution prestigious aware of Ktorh the implementation of the decision to withdraw deposits.
Eight stocks, all officially documented by the possibility of the customer to ask Bkdar gives an account of the balance in his account and check on his account and its assets, of course ...
The source noted that the decision of the Ministry of Finance has been applied to other banks without the banks and paid certain to be in the front and the coverage has been maintained at other banks so far, vast government balances in other banks when stripped of government deposits, including the Warka Bank.
He stressed that the bank did not refrain from responding to any process of withdrawing, but there is the process of organizing to withdraw cash in line with the directives of the Iraqi Central Bank which is located on the banks assumed control work and work on sustainability and development. (End)
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2011-06-06 18:07:33
BAGHDAD (Iba) .. MALE authoritative source in the Warka Bank for Investment and Finance that the judicial decision, which obtained the by the media and communications for enabling them to withdraw amounts deposited in the current account opened at the Almsrvho a foregone conclusion because the bank did not refrain mainly for the State to withdraw its position unchanged if any another customer, whether government or private sector companies or individuals.
The source told the independent press (Iba), but Modoeitalq the availability of sufficient cash liquidity to respond to all requests for withdrawals, which may be significant to a certain extent Mamtoffer not fit with the amount of cash and cash .. Because the process of withdrawal can not be your major customers and at one time, especially government agencies that have masses of cash most, because contrary to logic and contrary to the most basic rules of banking ..
He noted that the process of withdrawing the government's funds and the consequent withdrawal of non-justification was to implement the decision illegal and unjustified issued by the Ministry of Finance of 01.15.2009 spent also not dealing with the private banks as if the private banks are not part of the economic system of the state, then that private banks established in accordance with the provisions of the Companies Act and in accordance with the provisions of the Banking Act and the Help the Iraqi Central Bank, which operates under the supervision and control of all banks and financial institutions in Iraq.
The source was the decision of the Ministry of Finance said a negative impact on all banks have had their government's funds, which was also deprived of dealing with any department Overnmipozbb resolution disorder and confusion in financial transactions because most Tllk assets when it was deposited in private banks was a guarantor of open documentary credits related to foreign trade It was also a guarantor for bank guarantees concerning Tllk circles ..
He noted that the decision has caused the other hand, negative effects on private banks to withdraw stocks them and emptying the coffers and depriving them of an important source of liquidity, who is considered the most important elements of work and durability .. also make private banks is suspicious about, even before the private sector, which resorted to domestic banks starting to take advantage of banking systems and advanced banking technology, which makes the beneficiary feels part of the civilized world, where most of the banks sought, including the Civil Warka Bank to bring in and the application of the latest means of advanced banking technology, used globally ..
The source stressed that the embargo is to be the Ministry of Finance proactive to support the private banking sector because it is relying upon at this stage to be a tributary of the Iraqi economy because Iraq became a state that implements the concept of capital and therefore, the private sector is the backbone of the economy of any country and the private banking sector is the backbone of the private sector ..
He stressed that the sudden withdrawal and the justification for all government funds and at one time is not workable for the simple reason that private banks are not funds secretariats of liquidity can from her and let her be withdrawn by the sudden, because this is not logical and can not any banks world no matter how big his name and size to respond to all Withdrawals simultaneously.
He said that banks are financial institutions and intermediaries for handling traffic exchange and it is logical that banks currency cash reserves deposited with it fully but to prove the form of restrictions and balances to ensure the right of depositors either a cluster of cash is moving of course ..
He may be withdrawing some of those stocks, or in stages, but would force government departments to withdraw all assets from one time and force the banks to respond to all processes and applications for the sudden withdrawal, it is natural can not any bank that meets all Tllk withdrawals, and certainly there will be discounts legal or judicial in or another ..
He stressed that the Warka Bank did not refrain from payment requests or responding to withdrawals Mtalkabkdr What is the process of organizing the withdrawals and mechanisms Alsahbutan supervision and informed the CBI certainly so that the central bank urged government departments to exercise restraint by dragging and lack of pressure on the bank in this way because the central bank financial institution prestigious aware of Ktorh the implementation of the decision to withdraw deposits.
Eight stocks, all officially documented by the possibility of the customer to ask Bkdar gives an account of the balance in his account and check on his account and its assets, of course ...
The source noted that the decision of the Ministry of Finance has been applied to other banks without the banks and paid certain to be in the front and the coverage has been maintained at other banks so far, vast government balances in other banks when stripped of government deposits, including the Warka Bank.
He stressed that the bank did not refrain from responding to any process of withdrawing, but there is the process of organizing to withdraw cash in line with the directives of the Iraqi Central Bank which is located on the banks assumed control work and work on sustainability and development. (End)
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