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Director of Trade Bank of Iraq warns of linking the Ministry of Finance
Warned the director of Trade Bank of Iraq to link its bank, which enjoys independence since its inception in 2003, the Ministry of Finance, saying it could put his money to the risk of international sanctions. It is said that the Iraqi government submitted a draft law to parliament, where it was read the first, includes a link bank, Ministry of Finance .
Said Hamdiya dry Director of the bank is responsible for most of the remittances Iraqi government, big, told AFP that "the obligations resulting from the Iraq as a result of the political situation which has passed through the country and the government banks" in Iraq. "If you got bogged down in images directly to the Ministry of Finance and we have lost our independence we will be exposed to the risk measures seizure and confiscation by the international lenders imposed on the Ministry of Finance and state banks such as Rafidain and Rasheed, and fear most of that. "as shown dry, which took over its functions in the management of the bank's important after the detection of a major corruption accused the former director, who fled out of the country, concern the new law because it might complicate the work of the bank.
She said dry spent thirty years in banking, "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." "The Board of Directors of the bank, the highest administrative authority makes a decision without the intervention of any party, but when our attachment to finance we would be passing a long series of references which complicates things "at work.
Has established the Coalition Provisional Authority headed by the ruling American civil administrator of Iraq Paul Bremer Bank and began his law. And upheld the Director of the bank's new legislation for the Bank to suit the stage that Iraq is experiencing now. And said in this regard that "the bank was established in a special circumstance so you should re-consider its law as a result of changed circumstances In line with political and security stability, and today there is a state and it is not wrong to review the law for the better. "On the other hand, revealed that the dry amount of money that the former Director lend without collateral reaching one billion dollars, half of uncertain recovery.
The Secretary-General of the Iraqi Council of Ministers on the Keywords announced in 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 (Interpol) and the incriminating documents. And said dry "The size of the non-performing loans were up to billion dollars, up to last year we were able to restore $ 500 million, an average of fifty percent." She added, "we turned to the courts for the remaining loans amounting to about half of the remaining funds, as we carried out a settlement with other creditors." confirmed that the "Investigations with the officials confirmed that the powers were limited, however, the former director (Hussein Uzri) did not allow anyone to take any decision."
She noted that "the total employees who were expelled after the departure of former manager of 53 employees, some of them leave before the investigation," adding that "the bank made a large number of files to the Integrity Commission, which in turn convert them to justice." Prime Minister Nuri al- Maliki made a surprise visit to the bank after receiving reports to his office the existence of "irregularities in certain transactions," according to a statement issued by the Prime Minister's Office. As a result, formed a commission of inquiry found that the bank grants loans and credit facilities without collateral in the bank allocated to the opening credits for the import and export. He pointed out that the Keywords "There is billions of dollars in open credit notes as some of it is not known and unknown determination value of the benefits associated with it."
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 outside of Iraq and within the millions of dollars," according to the source. In turn, spoke dry for "start to re-structure of the bank and the distribution of powers employees and is not keen, however, one person, and the distribution of our responsibilities, as we review all previous agreements and contracts. "
The Commercial Bank of Iraq in addition to his participation, along with the Rafidain and Rasheed, funded by the largest residential project will be implemented by Korean companies near Baghdad worth $ 7.5 billion, financed by a large number of investment projects, including cement plants in Najaf, Muthanna, and infrastructure projects and production lines with and visited the the industry. The dry that "the banking system in Iraq is still a young as a result of the circumstances of the former, he was absent from all the developments in the world due to the blockade and war experienced by the country since 1980 until 2003 and Tallagha of occupation." In the view of the dry that "Iraq needs to private sector development, particularly the banking sector in line with the appropriation in the infrastructure construction and development of the economy. "" We must rely on the free economy and private sector. "confirmed that" the government has directed in this regard but needs more than during the revision of the labor laws and investment and how to support this sector. "dry also called" the private sector to restructure itself, to be on as much responsibility in the task itself "to build the country's economy.
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Warned the director of Trade Bank of Iraq to link its bank, which enjoys independence since its inception in 2003, the Ministry of Finance, saying it could put his money to the risk of international sanctions. It is said that the Iraqi government submitted a draft law to parliament, where it was read the first, includes a link bank, Ministry of Finance .
Said Hamdiya dry Director of the bank is responsible for most of the remittances Iraqi government, big, told AFP that "the obligations resulting from the Iraq as a result of the political situation which has passed through the country and the government banks" in Iraq. "If you got bogged down in images directly to the Ministry of Finance and we have lost our independence we will be exposed to the risk measures seizure and confiscation by the international lenders imposed on the Ministry of Finance and state banks such as Rafidain and Rasheed, and fear most of that. "as shown dry, which took over its functions in the management of the bank's important after the detection of a major corruption accused the former director, who fled out of the country, concern the new law because it might complicate the work of the bank.
She said dry spent thirty years in banking, "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." "The Board of Directors of the bank, the highest administrative authority makes a decision without the intervention of any party, but when our attachment to finance we would be passing a long series of references which complicates things "at work.
Has established the Coalition Provisional Authority headed by the ruling American civil administrator of Iraq Paul Bremer Bank and began his law. And upheld the Director of the bank's new legislation for the Bank to suit the stage that Iraq is experiencing now. And said in this regard that "the bank was established in a special circumstance so you should re-consider its law as a result of changed circumstances In line with political and security stability, and today there is a state and it is not wrong to review the law for the better. "On the other hand, revealed that the dry amount of money that the former Director lend without collateral reaching one billion dollars, half of uncertain recovery.
The Secretary-General of the Iraqi Council of Ministers on the Keywords announced in 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 (Interpol) and the incriminating documents. And said dry "The size of the non-performing loans were up to billion dollars, up to last year we were able to restore $ 500 million, an average of fifty percent." She added, "we turned to the courts for the remaining loans amounting to about half of the remaining funds, as we carried out a settlement with other creditors." confirmed that the "Investigations with the officials confirmed that the powers were limited, however, the former director (Hussein Uzri) did not allow anyone to take any decision."
She noted that "the total employees who were expelled after the departure of former manager of 53 employees, some of them leave before the investigation," adding that "the bank made a large number of files to the Integrity Commission, which in turn convert them to justice." Prime Minister Nuri al- Maliki made a surprise visit to the bank after receiving reports to his office the existence of "irregularities in certain transactions," according to a statement issued by the Prime Minister's Office. As a result, formed a commission of inquiry found that the bank grants loans and credit facilities without collateral in the bank allocated to the opening credits for the import and export. He pointed out that the Keywords "There is billions of dollars in open credit notes as some of it is not known and unknown determination value of the benefits associated with it."
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 outside of Iraq and within the millions of dollars," according to the source. In turn, spoke dry for "start to re-structure of the bank and the distribution of powers employees and is not keen, however, one person, and the distribution of our responsibilities, as we review all previous agreements and contracts. "
The Commercial Bank of Iraq in addition to his participation, along with the Rafidain and Rasheed, funded by the largest residential project will be implemented by Korean companies near Baghdad worth $ 7.5 billion, financed by a large number of investment projects, including cement plants in Najaf, Muthanna, and infrastructure projects and production lines with and visited the the industry. The dry that "the banking system in Iraq is still a young as a result of the circumstances of the former, he was absent from all the developments in the world due to the blockade and war experienced by the country since 1980 until 2003 and Tallagha of occupation." In the view of the dry that "Iraq needs to private sector development, particularly the banking sector in line with the appropriation in the infrastructure construction and development of the economy. "" We must rely on the free economy and private sector. "confirmed that" the government has directed in this regard but needs more than during the revision of the labor laws and investment and how to support this sector. "dry also called" the private sector to restructure itself, to be on as much responsibility in the task itself "to build the country's economy.
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