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Central: Help Warka Bank depend on the auditor's report
Adviser said the Central Bank of Iraq, Tuesday, that provide assistance to the Warka Bank after the debacle, and the imposition of guardianship will depend on the auditor's report, and expressed his belief the ability of the bank to overcome its current crisis.
He said the appearance of Mohammed Saleh told the news agency (Voices of Iraq) that provide assistance to the Warka Bank After the debacle and the imposition of guardianship by the Central Bank "will be after the issuance of the auditor who was appointed to his report which will outline the development of the bank, and the size of its assets and their adequacy," and determine "Is that the bank is viable or not."
The Central Bank of Iraq has decided to impose trusteeship on the Bank Warka after the failure of his negotiations with Standard Chartered Bank, which began in April 2011 to buy a stake in it, which is not the first time facing the bank decisions against him, where he was written off the bank from trading the Iraqi Stock Exchange in February 2010, in accordance with paragraph IX of Article V of the instruction number three amended for the year 2011.
The law provides for write-off company from listing if the stoppage of circulation for six months without taking appropriate action to appeal.
According to Saleh, the Warka Bank "is able to reorganize and put it," adding that the bank is "good, but suffered a bump , "and that he has" Deposits and loans hard to collect. "
Saleh explained that there are many ways to overcome the crisis, the bank, including "give him long term loan to pay off and re-organize the mess," he could "sell part of its assets to buy another bank," and also can "see the bank to share with another bank. "
The Warka Bank of the largest banks, the Iraqi civil was set up in 1999 and has 130 branches in different governorates of Iraq, which belongs to the family of "Saad structure" known in Iraq.
includes Iraq seven banks owned by the state and 23 private banks, many of which King to the families of well known brand, and eight Islamic banks in particular, with the banking sector is dominated by banks, Rafidain and Rasheed Aovernmaan.
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Adviser said the Central Bank of Iraq, Tuesday, that provide assistance to the Warka Bank after the debacle, and the imposition of guardianship will depend on the auditor's report, and expressed his belief the ability of the bank to overcome its current crisis.
He said the appearance of Mohammed Saleh told the news agency (Voices of Iraq) that provide assistance to the Warka Bank After the debacle and the imposition of guardianship by the Central Bank "will be after the issuance of the auditor who was appointed to his report which will outline the development of the bank, and the size of its assets and their adequacy," and determine "Is that the bank is viable or not."
The Central Bank of Iraq has decided to impose trusteeship on the Bank Warka after the failure of his negotiations with Standard Chartered Bank, which began in April 2011 to buy a stake in it, which is not the first time facing the bank decisions against him, where he was written off the bank from trading the Iraqi Stock Exchange in February 2010, in accordance with paragraph IX of Article V of the instruction number three amended for the year 2011.
The law provides for write-off company from listing if the stoppage of circulation for six months without taking appropriate action to appeal.
According to Saleh, the Warka Bank "is able to reorganize and put it," adding that the bank is "good, but suffered a bump , "and that he has" Deposits and loans hard to collect. "
Saleh explained that there are many ways to overcome the crisis, the bank, including "give him long term loan to pay off and re-organize the mess," he could "sell part of its assets to buy another bank," and also can "see the bank to share with another bank. "
The Warka Bank of the largest banks, the Iraqi civil was set up in 1999 and has 130 branches in different governorates of Iraq, which belongs to the family of "Saad structure" known in Iraq.
includes Iraq seven banks owned by the state and 23 private banks, many of which King to the families of well known brand, and eight Islamic banks in particular, with the banking sector is dominated by banks, Rafidain and Rasheed Aovernmaan.
[You must be registered and logged in to see this link.]
