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Hamdiya al-Jaff appointed head of Commercial Bank
17/07/2011 18:30
Baghdad, July 17 (AKnews) – Former Rafiadan State Bank advisor Hamdiya al-Jaff has been appointed head of the Commercial Bank of Iraq, a government official announced today.
Senior Economic advisor, Salam al-Quraishi, told AKnews that Prime Minister Nouri al-Maliki has appointed Jaff to take over the state-owned bank after its former director, Hussein al-Azri, fled to Lebanon last month when the parliamentary integrity commission referred him to the judiciary, accusing him of corruption and misusing public funds.
With 14 branches across Iraq, the Commercial Bank has assets that reach $15 billion – a 16% increase from 2009 when its assets stood at $12.6 billion.
Jaff has been serving as the bank’s interim director since Azri’s flight into exile.
Hussein al-Azri left for Lebanon in June when it was discovered that he had granted loans without guarantees – reported to have cost the state treasury millions of dollars.
Quraishi told AKnews that Jaff’s appointment is part of a government plan to turn the Commercial Bank around.
“The government is determined to make broad changes in the work of the Commercial Bank,” he said, “…to reduce administrative and financial excesses that have caused numerous fiscal and monetary problems.”
Azri – still in Lebanon - is currently the subject of an extradition order to repatriate the former bank chief to stand trial in Baghdad.
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17/07/2011 18:30
Baghdad, July 17 (AKnews) – Former Rafiadan State Bank advisor Hamdiya al-Jaff has been appointed head of the Commercial Bank of Iraq, a government official announced today.
Senior Economic advisor, Salam al-Quraishi, told AKnews that Prime Minister Nouri al-Maliki has appointed Jaff to take over the state-owned bank after its former director, Hussein al-Azri, fled to Lebanon last month when the parliamentary integrity commission referred him to the judiciary, accusing him of corruption and misusing public funds.
With 14 branches across Iraq, the Commercial Bank has assets that reach $15 billion – a 16% increase from 2009 when its assets stood at $12.6 billion.
Jaff has been serving as the bank’s interim director since Azri’s flight into exile.
Hussein al-Azri left for Lebanon in June when it was discovered that he had granted loans without guarantees – reported to have cost the state treasury millions of dollars.
Quraishi told AKnews that Jaff’s appointment is part of a government plan to turn the Commercial Bank around.
“The government is determined to make broad changes in the work of the Commercial Bank,” he said, “…to reduce administrative and financial excesses that have caused numerous fiscal and monetary problems.”
Azri – still in Lebanon - is currently the subject of an extradition order to repatriate the former bank chief to stand trial in Baghdad.
[You must be registered and logged in to see this link.]
