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Central Bank puts the Economy Bank for Investment "under guardianship" and stripped of its assets
06/04/2014 16:30
Long-Presse / Baghdad
The development of the Iraqi Central Bank, on Wednesday, Economy Bank for Investment under guardianship, while pointing to his eagerness to promote the bank and protect its customers, said a banking source put the bank watchman financially inventory of bank assets and the development of a two-step for the advancement of him or final liquidation after payment of the money his customers, while called the Association of Banks for the central bank to help the Bank of the economy to return to the banking sector to "force".
The central bank said in a statement received (range Press), a copy of "the central bank governor and a number of bank officials met with the chairman of the Bank of the economy and the managing director, and they discussed about the possibility of taking the necessary measures for the advancement of the bank's financial and maintain service customers."
The statement added that "representatives of the Central Bank undertook the task of overseeing the effective management of the economy, the Bank for Investment and Finance."
For his part, said a banking source said in an interview (range Press), "The Central Bank imposed trusteeship Bank of the economy to invest because of the loss of the last of the liquid financial impact of problems in the management of real estate and other financial services," noting that "the central bank put a sergeant financially Bank mission inventory Bank assets of Real Estate and the sums of money in order to prepare to raise the management of the central bank. "
The source, who asked not to be named, said: "If proven the existence of the possibility of reviving the bank again through a number of assets of amounts and properties, the central bank would take steps for the advancement of the bank and the first step is to develop and deposit money from the central bank to manage the services of the bank, as well as repay bank debt, and the second step is to put a deposit finance long-term by the Ministry of Finance (deposit-governmental organizations), to walk to the conditions of the bank, while the promotion of own reality. "
The source continued that "in the event of insufficient assets of the bank, the central bank will work on a final liquidation of the bank after the fulfillment of the obligations of its customers."
For his part, President of the Association of private banks Abdul Aziz Hassoun, said in an interview to the (long-Presse), "We expect better than the prior administration the central bank for the advancement of the Bank of the economy because the central is the sponsor of the private banks, and does not accept certainly lose any bank," calling on the central bank to " the need to help the bank to return to the banking sector strongly because of the strong banks in the Iraqi market. "
The Bank was established to invest in the economy 22.03.1999, as has been included in the stock market on 02/01/2005, and the bank has 50 branches located in different provinces of Iraq with a capital of one hundred and fifty billion Iraqi dinars.
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06/04/2014 16:30
Long-Presse / Baghdad
The development of the Iraqi Central Bank, on Wednesday, Economy Bank for Investment under guardianship, while pointing to his eagerness to promote the bank and protect its customers, said a banking source put the bank watchman financially inventory of bank assets and the development of a two-step for the advancement of him or final liquidation after payment of the money his customers, while called the Association of Banks for the central bank to help the Bank of the economy to return to the banking sector to "force".
The central bank said in a statement received (range Press), a copy of "the central bank governor and a number of bank officials met with the chairman of the Bank of the economy and the managing director, and they discussed about the possibility of taking the necessary measures for the advancement of the bank's financial and maintain service customers."
The statement added that "representatives of the Central Bank undertook the task of overseeing the effective management of the economy, the Bank for Investment and Finance."
For his part, said a banking source said in an interview (range Press), "The Central Bank imposed trusteeship Bank of the economy to invest because of the loss of the last of the liquid financial impact of problems in the management of real estate and other financial services," noting that "the central bank put a sergeant financially Bank mission inventory Bank assets of Real Estate and the sums of money in order to prepare to raise the management of the central bank. "
The source, who asked not to be named, said: "If proven the existence of the possibility of reviving the bank again through a number of assets of amounts and properties, the central bank would take steps for the advancement of the bank and the first step is to develop and deposit money from the central bank to manage the services of the bank, as well as repay bank debt, and the second step is to put a deposit finance long-term by the Ministry of Finance (deposit-governmental organizations), to walk to the conditions of the bank, while the promotion of own reality. "
The source continued that "in the event of insufficient assets of the bank, the central bank will work on a final liquidation of the bank after the fulfillment of the obligations of its customers."
For his part, President of the Association of private banks Abdul Aziz Hassoun, said in an interview to the (long-Presse), "We expect better than the prior administration the central bank for the advancement of the Bank of the economy because the central is the sponsor of the private banks, and does not accept certainly lose any bank," calling on the central bank to " the need to help the bank to return to the banking sector strongly because of the strong banks in the Iraqi market. "
The Bank was established to invest in the economy 22.03.1999, as has been included in the stock market on 02/01/2005, and the bank has 50 branches located in different provinces of Iraq with a capital of one hundred and fifty billion Iraqi dinars.
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