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Why is the Central Bank reluctant to implement the measures taken against Iraqi private banks?
economy 2024-09-27 | 06:24
3,326 views
Alsumaria News - Local
Including liquidation and guardianship, as the Central Bank of Iraq took a number of decisions against a number of Iraqi private banks for violating banking instructions.
The source said in an interview with Al-Sumaria News,
“The Babylon Bank was referred for forced liquidation, and
guardianship was imposed on the Al -Arabiya Middle East Islamic Bank and the Iraqi Investment Bank.” The source indicated,
"The period of guardianship over the Northern Bank will be extended until the 31st of next October." The source stated that
"these decisions were taken with caution without knowing the reasons." Economists wondered
“why the Central Bank was so patient with the decisions issued on these banks,” while some of them believed that
“political pressure from higher authorities was exerted on the Central Bank with the aim of being patient in implementing those decisions.” While they pointed out that
“this warns of the presence of corrupt parties standing behind these banks that have achieved failures in their work and violated the applicable laws and rules,” stressing
“the necessity of amending the context of the work of these banks, which
if their violations continue, it portends negative indicators on the Iraqi economy, which the government seeks to reform through A package of measures.
https://www.alsumaria.tv/news/economy/501382/لماذا-تريث-البنك-المركزي-في-تنفيذ-الإجراءات-المتخذة-على-مصارف-أهلية-عر
economy 2024-09-27 | 06:24
3,326 views
Alsumaria News - Local
Including liquidation and guardianship, as the Central Bank of Iraq took a number of decisions against a number of Iraqi private banks for violating banking instructions.
The source said in an interview with Al-Sumaria News,
“The Babylon Bank was referred for forced liquidation, and
guardianship was imposed on the Al -Arabiya Middle East Islamic Bank and the Iraqi Investment Bank.” The source indicated,
"The period of guardianship over the Northern Bank will be extended until the 31st of next October." The source stated that
"these decisions were taken with caution without knowing the reasons." Economists wondered
“why the Central Bank was so patient with the decisions issued on these banks,” while some of them believed that
“political pressure from higher authorities was exerted on the Central Bank with the aim of being patient in implementing those decisions.” While they pointed out that
“this warns of the presence of corrupt parties standing behind these banks that have achieved failures in their work and violated the applicable laws and rules,” stressing
“the necessity of amending the context of the work of these banks, which
if their violations continue, it portends negative indicators on the Iraqi economy, which the government seeks to reform through A package of measures.
https://www.alsumaria.tv/news/economy/501382/لماذا-تريث-البنك-المركزي-في-تنفيذ-الإجراءات-المتخذة-على-مصارف-أهلية-عر
