CBI Rumored Another Bank Under Guardianship

[ronscarpa]

CBI Rumored Another Bank Under Guardianship

 

Hello ,

There is not a whole lot of new news coming out

of Iraq from the political scene. We still do not

have the defense and interior ministry filled. PM

al-Abadi stated he would have those positions

filled in one week. The Kurdish political groups

have stated in the local media that they were

forced by the United States administration to

support the Iraq central bank government. This is

significant because it proves that the KRG after

90 days will mostly likely leave the Iraq

government.

On the economic front, the Central Bank of Iraq

(CBI) is advising banks who have not met the

capitalization requirements of 250 billion dinars

that they could lose their banking license. Last

January, I reported an article about the CBI

informing five Iraqi private banks would be

losing their licensing because of failure to

report their banking documents as required

directly to the CBI. There are rumors on the

streets of Baghdad that a private Iraq bank will

fall under the CBI guardianship just like

al-Warka bank and Economy Bank.

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