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Trade Bank of Iraq Ihdhirmn linked to the Ministry of Finance
26/01/2012
Fear of jeopardizing his assets to the risk of international sanctions
BAGHDAD - Al Sabah
Warned the director of Trade Bank of Iraq Hamdiya dry of linking the bank's Ministry of Finance, for fear of exposing his money to risk international sanctions, and quoted by news agency AFP dry as saying «If you have got bogged down directly to the Ministry of Finance and we have lost our independence we will be exposed to the risk measures the seizure and confiscation by the international lenders imposed the Ministry of Finance and state banks such as Rafidain and Rasheed », pointing to look at« the obligations resulting from the Iraq government and its banks as a result of the political situation which has passed through the country ».
Parliament and read the first reading the bill, which the government submitted to Parliament, containing the link bank finance.
The Bank enjoys independence since its inception in 2003, is responsible for most of the large government transfers.
She dry «do not like to be a link to the ministry because the bank would lose its independence enjoyed by, away from the complexities and administrative routine in the banks of the Ministry of Finance», pointing out that «the Board of Directors of the bank, the highest administrative authority makes a decision without the intervention of any party, but when We're going to finance our attachment to a long series of references which complicates the work ».
And supported the new legislation for the Bank to suit the phase experienced by Iraq. And said in this regard that «the bank was established in the special circumstance must therefore reconsider its law as a result of changed circumstances and in line with the political stability and security, today became a state and it is not wrong to review the law for the better» .
Also uncovered the dry, the volume of money that the former Director lend without collateral amounted billion dollars, saying restore half. The Secretary-General of the Iraqi Council of Ministers on the Keywords announced last October, the issuance of the order of the Iraqi judiciary to re-director of Trade Bank of Iraq Hussein Uzri, who fled to Beirut after being accused of wasting millions of dollars, confirming delivery of the International Police Organization (Interpol) and the incriminating documents. She said dry that «the size of non-performing loans was around billion dollars, up to last year we were able to restore $ 500 million, an average of fifty percent». She said «we turned to the courts for the remaining loans amounting to about half of the remaining funds, as we carried out a settlement with the creditors to others». She stressed that «the investigation with the officials confirmed that the powers were limited, however, the former director did not allow anyone to take any decision».
She pointed out that «the total employees who were expelled after the departure of former manager of 53 employees, some of them leave before the interrogation» noting that «the bank made a large number of files to the Integrity Commission, which in turn convert them to justice».
And found the commissions of inquiry, headed by Keywords on «The salary is based on the jurisprudence of personal amounts of thousands of dollars and disbursements are not justified, or for personal purposes such as buying buildings in the inside and outside Iraq, millions of dollars».
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26/01/2012
Fear of jeopardizing his assets to the risk of international sanctions
BAGHDAD - Al Sabah
Warned the director of Trade Bank of Iraq Hamdiya dry of linking the bank's Ministry of Finance, for fear of exposing his money to risk international sanctions, and quoted by news agency AFP dry as saying «If you have got bogged down directly to the Ministry of Finance and we have lost our independence we will be exposed to the risk measures the seizure and confiscation by the international lenders imposed the Ministry of Finance and state banks such as Rafidain and Rasheed », pointing to look at« the obligations resulting from the Iraq government and its banks as a result of the political situation which has passed through the country ».
Parliament and read the first reading the bill, which the government submitted to Parliament, containing the link bank finance.
The Bank enjoys independence since its inception in 2003, is responsible for most of the large government transfers.
She dry «do not like to be a link to the ministry because the bank would lose its independence enjoyed by, away from the complexities and administrative routine in the banks of the Ministry of Finance», pointing out that «the Board of Directors of the bank, the highest administrative authority makes a decision without the intervention of any party, but when We're going to finance our attachment to a long series of references which complicates the work ».
And supported the new legislation for the Bank to suit the phase experienced by Iraq. And said in this regard that «the bank was established in the special circumstance must therefore reconsider its law as a result of changed circumstances and in line with the political stability and security, today became a state and it is not wrong to review the law for the better» .
Also uncovered the dry, the volume of money that the former Director lend without collateral amounted billion dollars, saying restore half. The Secretary-General of the Iraqi Council of Ministers on the Keywords announced last October, the issuance of the order of the Iraqi judiciary to re-director of Trade Bank of Iraq Hussein Uzri, who fled to Beirut after being accused of wasting millions of dollars, confirming delivery of the International Police Organization (Interpol) and the incriminating documents. She said dry that «the size of non-performing loans was around billion dollars, up to last year we were able to restore $ 500 million, an average of fifty percent». She said «we turned to the courts for the remaining loans amounting to about half of the remaining funds, as we carried out a settlement with the creditors to others». She stressed that «the investigation with the officials confirmed that the powers were limited, however, the former director did not allow anyone to take any decision».
She pointed out that «the total employees who were expelled after the departure of former manager of 53 employees, some of them leave before the interrogation» noting that «the bank made a large number of files to the Integrity Commission, which in turn convert them to justice».
And found the commissions of inquiry, headed by Keywords on «The salary is based on the jurisprudence of personal amounts of thousands of dollars and disbursements are not justified, or for personal purposes such as buying buildings in the inside and outside Iraq, millions of dollars».
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