New CBI Announcement 04/30/2017

[yota691]

News and announcements

• Gold bullion , which will be on sale under which prices  Tuesday  , corresponding  to 2017 / 5 / 2 2017/4/ 30

  ( Board Resolution No.  ( 62 )  for the year 2017)  concerning the violation of the Islamic Murahaleen Bank and the breach of the principle of transparency, non - disclosure and submitting incorrect information  30.04.2017

[yota691]

Central cancels vacation Doing Business Bank Islamic Murahaleen for providing false information

 

Sunday April 30, 2017 15:00

 

 

 

Alsumaria News / Baghdad  announced that the central bank, Sunday, he canceled leave the practice of realization of the Islamic Bank Murahaleen for defrauding and submitting false information, indicating that the face of the legal department to take the necessary legal procedures.  The bank said in a statement Alsumaria News received a copy of it that " the report of the Monitoring Department of Banking on violation of Islamic Murahaleen Bank and the breach of the principle of transparency, non - disclosure and submission of inaccurate information misled by the inspection committees of the Bank, in addition to carrying out false procedures and fraudulent on the bank 's capital from in order to obtain a license to practice it has been decided to abolish the practice of banking license granted to him. "       He added that " the face of the legal department to take the necessary legal procedures , " noting that " has been directing the registration of companies in the Department of the Ministry of Commerce to mark in their records and all stakeholders."  He added that the bank " has been appointed Zia Salem Labida guardian of the bank for the purpose of liquidation and inform the bank a detailed report on the size of liabilities and settled in his plan."  And established the Central Bank of Iraq is an independent bank under the law issued on the sixth of March 2004, an independent body, which is responsible for maintaining price stability and the implementation of monetary policy, and supervises 10 commercial banks and 26 banks waged and 16 Islamic bank, in addition to 19 foreign banks, as well as 6 financial institutions and 31 companies for financial conversion.

[davis411]

ok again I am lost

they get caught defaurding

so they lose their holiday

 

I would be in jail myself

 

maybe its this great Canadian beer

I just don't understand

[yota691]

The central bank closes Islamic Bank Murahaleen

 

 

Economy News Baghdad:  The central bank decided, Sunday, the abolition of the practice of realization leave Islamic Bank Murahaleen for defrauding and submitting false information, indicating that the face of the legal department to take the necessary legal procedures. The central bank said in a press statement received by the "Economy News", "the report submitted by the Monitoring Department of Banking on violation of Islamic Murahaleen Bank and the breach of the principle of transparency, non-disclosure and submission of inaccurate information misled by the inspection committees of the Bank, in addition to carrying out false procedures and fraudulent on capital the bank in order to obtain a license to practice has been decided to abolish the practice of banking license granted to him. " He added that "the face of the legal department to take the necessary legal action," adding that he "has been directing the registration of companies in the Ministry of Commerce Department to mark in their records and all stakeholders." He explained that "Salem was appointed Zia guardian of the bank for the purpose of liquidation and inform the bank a detailed report on the size of liabilities and settled in his plan."
Views 379   Date Added 04/30/2017 - 16:52   Last updated 30/04/2017 - 23:02   No. Content 7370

[ChuckFinley]

People more worried about losing holidays than jail.  

[sandfly]

Thanks 

[Wiljor]

37 minutes ago, sandfly said:

Thanks 

Hey Sandfly, good to see you brother.  Trusting all is well  

[yota691]

01-05-2017 11:48 AM

Gulf Bank shall be referred to the sanctions committee, and why ??

 

 

 

Central Bank announced on Monday for the assignment of the Gulf Bank to determine the sanctions committee for the existence of irregularities. 

He said Alpennekanh 'Gulf Bank were referred to the committee to determine penalties for violations carried out'. 

He added that the bank 'irregularities came in control of the Department of Banking its report on the violation of the Islamic Murahaleen Bank for breach of the principle of transparency and non - disclosure'. 

The central canceled, on Sunday (April 30, 2017) Doing Business leave Islamic Bank Murahaleen for defrauding and submitting false information.

[yota691]

Central publishes a table gold bullion prices for the current week

 

 

Publication of the Central Bank of Iraq on Monday, a schedule gold bullion prices for the current week and lower prices, except in the table of gold coins.   Among the table, that the price of the alloy carat 5 g reached 253 000 dinars, down 3 thousand dinars, while the price of bullion reached 10 g 497 carat thousand dinars, and a decrease of 6 thousand dinars, indicating that the alloy carat price of 15 g reached 748 000 dinars, down 9 thousand Dinar.   He explained that the alloy table 25 g price amounted to 1.266 million dinars, down 15 thousand dinars, while the price of alloy 50 g reached 2.536 million dinars and a decrease of 30 thousand dinars. "   "Economy News" and publish the table according to the report of the Central Bank of Iraq media.
Views 19   Date Added 01/05/2017 - 11:03   Last updated 01/05/2017 - 13:29   No. Content 7377

[rambo12354]

It doesn't seen like they got away with this defrauding, time will tell.

Now what about this gold, how do you get some anybody? just saying!

Edited May 1, 2017 by rambo12354

[sandfly]

Good wil just taken care of business 

[yota691]

15-05-2017 12:12 PM

Islamic Bank Murahaleen stop working once a formal decision of the Central Bank (document)

 

 

 

The central bank has canceled leave the practice of realization of the Islamic Bank Murahaleen for defrauding and submitting false information, indicating that the face of the legal department to take the necessary legal procedures. 

The bank said that the 'report of the Monitoring Department of Banking on violation of Islamic Murahaleen Bank and the breach of the principle of transparency, non - disclosure and submission of inaccurate information misled by the inspection committees of the Bank, in addition to carrying out false procedures and fraudulent on the bank 's capital in order to obtain a license to practice has been decided the abolition of the practice of banking license granted to him. ' 

He added that ' the face of the legal department to take the necessary legal procedures', indicating that it' has been directing the registration of companies in the Ministry of Commerce Department to mark in their records and all stakeholders. " 

He added that the bank 'was appointed Zia Salem Labida guardian of the bank for the purpose of liquidation and inform the bank a detailed report on the size of liabilities and settled in his plan. "

[Wiljor]

On 5/1/2017 at 10:11 PM, sandfly said:

Good wil just taken care of business 

 

[DWS112]

Economists: banking offices terrorism may be funded through the currency auction

May 15,2017

 

Economists: banking offices terrorism may be funded through the currency auction
Data Central Bank of Iraq last week showed, on the results of the work of the sale of foreign currency window (the dollar), that foreign banks accounted for the largest share, and Abu Dhabi Islamic Bank about four days the amount of $ 58.3 million out of Iraq, which the bankers saw discrimination in the central bank deal in favor of foreign banks on the local account without right, while criticized this proposal, experts asserting that, no ability of any bank to impose its control over the currency window whether foreign or local, but they acknowledge that the performance of foreign banks in Iraq involves problems in terms of providing credit and loan Od local businesses and even citizens, others believe that the Iraqi banking law does not include provisions held accountable for foreign banks, which allows them to catch a morsel that saturated better, including the sale of the currency window.

The beginning of an economic source, who asked not to be named, says that foreign banks dominate today sell the currency in the central bank's window, after it was controlled by the Iraqi banks auction, indicating that the conversion of Abu Dhabi Islamic Bank in four days the amount of $ 58.3 million out of Iraq , this means that the bank is being daily transfers worth 14-17 million dollars through the auction, and every one dollar it wins 10 dinars, although foreign banks including Abu Dhabi Bank does not provide loans to citizens.

A number of bankers have called earlier to develop more transparent standards limiting the acquisition of foreign banks to the larger quotas, at a time announced Transparency Association in Iraq, in a report, he said that "there is a discourse distinct unlawfully, given to the branches of foreign banks operating in Iraq auction facilities in the currency market at the expense of national banks.

And he criticizes the economic expert Ahmed Bureihi talking about that foreign banks impose its control over the currency window in the central bank, adding that it is not true, there is no bank, whether foreign or locally can impose its control on the currency auction never, as the central does not distinguish between banks in dealing with the currency window, and the process is done according to the instructions that include all banks, and therefore it did not distinguish between banks as some say.

He adds: either the one hand, the performance of foreign banks in Iraq on the one hand to provide credits and loans to local businesses and even citizens and others, this is the problem, which is unfortunate, and it needs to be detailed treatments the fact that it relates to the business environment in Iraq and is another case.

The expert says the name of Antoine, said that foreign banks have the right to get all the privileges obtained by local banks and, of course, the foreign banks exercise activities that achieve its profitability, and other activities do not fall out Kkhtabat security, guarantees and other things, as there is no law forcing these banks to exercise all activities, Valmsrv is a commercial enterprise considering profit oriented activities that achieve a profit, and the central bank can give signals to those banks need to exercise all activities like national banks but he can not force it.

Continues to Antoine that the central bank's policy is to seek to attract funds and foreign banks to operate in Iraq's capital, where the Lebanese banks took the largest share, and here there must be follow-up and accounting and to treat foreign bank treats as Iraqi bank according to one law is the banks with everything the law, whether with a money, investments, loans and letters of guarantee.

And it corrects it, which seems to be the law has no paragraphs hold them accountable on these activities, therefore they prey on the fat morsel that Chbahm better, stressing in the context of his speech: When we compare the market and foreign parallel with the bank rate is more than 60 to 70 dinars per dollar this amount large, although our comments on the sale of that currency should monitor and codifies, which is that the dollar sell directly to importers from real industrialists and others, even the dollar for the goods and the goods are not Astbah.

He believes that it is essential that there be a platform to import determines what are the goods that converts its amount and that does not prevent her, firmly believe that the loss of import platform makes the currency auction is an effective tool to import goods and goods prices is unknown and may be used to finance terrorism from some banking offices.+
Zahraa Al-Jassem

[Synopsis]

The article states, "The beginning of an economic source, who asked not to be named, says that foreign banks dominate today sell the currency in the central bank's window, after it was controlled by the Iraqi banks auction, indicating that the conversion of Abu Dhabi Islamic Bank in four days the amount of $ 58.3 million out of Iraq , this means that the bank is being daily transfers worth 14-17 million dollars through the auction, and every one dollar it wins 10 dinars, although foreign banks including Abu Dhabi Bank does not provide loans to citizens."

 

I am having a hard time understanding this part of the article. So 58.3 million USD/4 days = 14.575 million USD/day. OK, that seems to check out for 14-17 million on the daily transfers.

 

So, what is the "every one dollar it wins 10 dinars" all about? The United Arab Emirates currency is the Emirati Durham (AED) and is 1 AED = 0.272273 USD on www.xe.com about now. So, are they implying a 0.10 IQD = 1 USD now? The United Arab Emirates has a Dirham not Dinar for currency. Bahrain, Iraq, Jordan, and Kuwait are the only ones with Dinar for currency. So:

 

1 BHD =2.65307USD

1 IQD =0.000851920USD

1 JOD =1.41017USD

1 KWD =3.28049USD

 

I dunno folks. 

 

Or maybe Mr. Adam Montana is the keenest? Oh, Yeah, I think so!!! To Mr. Adam Montana!!!

 

Well, OK, maybe my connect-the-dots isn't quite right - yet. 

 

In the mean time..........................

 

Go Moola Nova???!!!