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Keywords: Bank of the first experience in Iraq to save banks and depositors


blueskyline
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https://www.mustaqila.com/العلاق-المصرف-الجسري-اول-تجربة-بالعرا/.........

Keywords: Bank of the first experience in Iraq to save banks and depositors

03/10/2018

 

(Independent) .. Open the governor of the Central Bank of Iraq Ali Alaab Bank Hamorabi Bank, in the first step of its kind to protect the banking system, and return to work and provide products that support the national economy.

Al-Alak said in a speech at the opening ceremony that this step is one of the steps that are awaiting follow-up because it is the first experience in Iraq to establish a bridge bank within the conditions and requirements and objectives that are designed for this work. 
He added that "this work comes as an embodiment and approval of the function of the Iraqi Bank of Iraq as the authority concerned with the stability of the banking sector and this goal we focus on a large extent through the follow-up and control of banks and try to find appropriate solutions for cases that are diagnosed.
He continued that the issue of the stability of the banking sector takes different dimensions and dimensions and this dimension of the dimensions that we do today by preserving the rights of depositors in the banks in order not to harm the shareholders or other parties, "adding that many countries where the cases of defaults and bankruptcies, Our policy in the Central Bank of Iraq is trying to go to the maximum extent and bear the difficulties and follow-up to some of the conditions of banks to prevent their arrival to the stage of liquidation or bankruptcy This raises awareness of the institution of the Central Bank of the importance of stability of the banking sector and avoid any effects of an economic or material and service " .

Financial Advisor to the Prime Minister Dr. The appearance of Mohammed Saleh said: The bank is the first financial model in Iraq, which resulted from the strict application of the Law of Iraqi banks No. 94 of 2004 in dealing with the phenomenon of banking failure without recourse to liquidation, indicating that it represents a distinct success is the first of its kind recorded by the monetary authority in the rescue bank And to restore life to his financial activities and move him from the stage of guardianship to the stage of the bank of the bridge, rather than forced liquidation as mentioned earlier. 
He explained that the Bank of Hammurabi Bank is a pioneering and pioneering bank with a clean balance sheet, a network of depositors and strong shareholders through the establishment of an effective framework to restore confidence to one of the previously troubled private banks due to mismanagement, thus enabling the CBI to preserve the property rights represented by the shareholders network and guarantee the deposits of the public.
He pointed out that the new administration seeks to implement the standards of compliance and control and internal control and international accounting standards and politicize the network of correspondents with international banks and adopt the rules of risk management in all forms, especially in the management of credit and liquidity and capital adequacy, as well as the application of good governance standards and regulatory regulations governing them and based on Principle of separation of management from property rights to avoid conflict of banking interests and to participate in risk between management and owners of property rights through the meetings of the General Authority of the bank as well as to strengthen disclosure and issue before the public body B Wen Hammurabi, the Bank's strong and legitimate Iraqi banking system Waleed ..

The head of the Baghdad Economic Forum Fares al-Salman said: The bank is the center of the return of confidence between banks and the public, and provides deposits of customers fully after the central bank participated 50 billion dinars in the capital of the bank, pointing out that the administration is shared by the Central Bank and owners and money. 
He pointed out that the administration is working to promote the bank until the value of its shares market with the book value after which the amount of the central bank, which was shared by the capital, and managed by a team of expertise and know-how.

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I really like this part: pointed out that the administration is working to promote the bank until the value of its shares market with the book value after which the amount of the central bank, which was sharedby the capital, and managed by a team of expertise andknow-how.

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10 hours ago, blueskyline said:

He explained that the Bank of Hammurabi Bank is a pioneering and pioneering bank with a clean balance sheet, a network of depositors and strong shareholders through the establishment of an effective framework to restore confidence to one of the previously troubled private banks due to mismanagement, thus enabling the CBI to preserve the property rights represented by the shareholders network and guarantee the deposits of the public.

 

This is a condition I have been looking for where the individual depositors are actually protected with their deposits in the bank. Although "insurance" is not expressly mentioned, "assurance" to the depositor is in order.

 

Today is October 4 and there are 27 days left in October for the lower denominations (250, 500, and 1,000 notes) to be released. Maybe other denominations will get issued as well???!!!

 

We'll see!!!

 

In The Mean Time.......................................................................................

 

Go Moola Nova (YEAH AND YEE HAW, BABY, READY WHEN YOU ARE BROTHER (OR SISTER) - LET 'ER BUCK!!!)!!!

:rodeo:   :pirateship:

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12 hours ago, navira said:

6ly410, this is may be the month that we see exchange rate sites change its rate...last year one site had a changed rate around 1 dollar per dinar

 

hope so navira ,,, the only place i want to see the rate change is the central bank of iraq , only then can i proceed with ( post rate change plans ) ... all the best

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16 hours ago, 6ly410 said:

Haha.. it’s ready to go :twothumbs: 

Oh oh. Who got you started again. I love to laugh, hahahaha. You remind me of the uncle from marry poppins. When he started to laugh he couldnt stop and he would start to fliat to the ceiling. Hahahahah, and he would get everone laughing. Its good to see people smile and laugh. It says alot about a person. Even though, its not sincere sometimes it is contagious. Take care.

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