Central frees "Dar es Salaam" bank reserves and starts to pay portions of amounts 85% of depositors

12.2.2016


CBI indirect announced repay portions of amounts 85% of the amount of depositors in the "House of Peace" bank by editing the legal reserve, and has pledged to pursue similar steps with the two banks "stumbling" others, while private banks association confirmed that the central bank’s actions reduced the number of banks "distressed" from eight to only three, promised that those banks affected the reputation of the sector.

The Director-General of the Department version and cabinets in the central bank Ihsan Shomran in an interview to the (long-Presse), "
The bank was forced to edit part of your troubled banks reserved the legal reserve has to pay off depositors in money," noting that the "step applied to Dar es Salaam which is the largest defaulters, hoping applied to the North Bank of the third and the last. "

He Shomran, that "special committees of the Central Bank is currently paying portions of amounts 85% of depositors in Dar es Salaam, which amounts to billions of dinars Bank", noting that "
the bank’s reserves are not enough to pay all depositors’ funds."

Said Director General of the Department version and cabinets in the central bank, that "the bank will be repaid amounts farewell owners that do not exceed three million dinars," pointing out that "large deposit holders would receive proportions of them in the hope that improves the bank’s financial position to pay off the remaining ones."

And on the demonstrations organized by the depositors troubled banks, in front of the central bank, said Shomran, that "depositors believe that the troubled banks, funds reserved for the central bank, and demanding payment of their deposits," stressing that "the central bank depends justice distribution which gives parts of the amount of each applicant to include distribution everybody".

Among Shomran, that "the central bank needs more time to repay the deposits are all deserving," explaining that "the face of the bank book to Dar es Salaam bank owners to know the procedures that will be followed to reimburse depositors have."

In turn, executive director of the Association of Banks of civil Ali Tariq said in an interview to the (long-Presse), said that "some banks eligibility has not adhered to hand over depositors’ money to have," noting that "the number of troubled banks fell from eight to only three because the procedures followed by the central bank."

He explained Tariq, that "the central bank supervises himself to solve the problem of the three troubled banks over the extradition of nationals money directly and proportions of certain According to available to those banks have reserves," stressing that "the funds provided by the Central Bank of the assets of those banks that do not suffice depositors all in Ann One".

He predicted, executive director of the Association of private banks, to "repay depositors eligibility banks funds process take longer, although impacted on the claimants of their rights," adding that "the delay caused by the lack of financial liquidity for the three banks the impact on the reputation of the banking sector in general, and 57 banks waged especially ".

He guessed Tariq, that "the central bank goes to sell part of its non-performing assets of banks to repay depositors’ money," stressing the need to "reimburse depositors regardless of their size."

Dozens of depositors in private banks, has been demonstrated, in, (the 29th of November 2016), again in front of the Central Bank Building, the center of Baghdad, to demand the fractured deposits troubled banks fund, to recover their money, while accusing the bank of "collusion" with her, they demanded the three presidencies to intervene to address the cause.

It is noteworthy that among the troubled banks, as well as Dar es Salaam, both from the north and the Warka.

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Iraqi lawmaker accused the central bank to "waste" $ 312 billion

02/12/2016

BAGHDAD – Wisdom:

MP in the Iraqi parliament Burhan Mamouri considered that the monetary policy pursued by the central bank is solid and caused the waste of hard currency entering the country.

Burhan Mamouri pointed out that the auction sale of the Bank’s currency did not achieve the goals that the foundations for it, noting that the auction sold $ 312 billion over the past years have been transferred 80% of which are out of the country.

Said Mamouri, at a joint news conference in the House of Representatives with MPs beautiful Obeidi and Fares Fares, "The economic challenges experienced by Iraq, although some are trying to reduce the danger, but it is very serious challenges and is capable of exposing the country to grave danger no less dangerous than terrorism and other dangerous file. "

Mamouri added that monetary policy led by the central bank is solid, and cause a great squandering the hard currency entering the country for the sale of oil in the bank was not able to maintain the value of the dinar against the dollar, in addition to a massive inflation in the money supply is currently dinar traded, which amounted to more of 42 trillion dinars.

He also raised the Iraqi MP the subject of problems related to the smuggling of currency and forgery, pointing out that, after nearly 12 years to establish what is known as auctions of government for the sale of the Central Bank’s currency, this auction has been unable to achieve any of the goals that the foundations for which the exception of the provision of liquidity to finance expenditures government in Iraqi dinars.

Mamouri He explained that during these long years, selling nearly $ 312 billion in the auction, "It is strange that in this regard the figures available indicate that 80% of them turned out of Iraq."

Among Mamouri proof that the majority of shareholders, or as they call them Bzbain bank of banks and companies access to their destination hard currency at prices below the prevailing price in the market and out of Iraq in exchange for commercial papers and documents, most of which are not true.

He MP from the Union of Iraqi forces to Iraq’s imports of oil daily is less than the currency market sales volume, stressing that the central bank resorted to withdrawal from the cash reserve currency instead of the promotion, which fell from $ 71 billion to less than $ 50 billion, according to the his tongue.

The MP on the need to monitor the auction sell the currency on the one hand and the introduction of hard currency to Iraq via activation of single-window customs tariff and inventory handling difficult the currency, as well as those who are buying the currency from the auction and the verification of the applications that they provide and the exclusion of non-real control.

http://www.alhikmeh.org/news/archives/94906

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