View Full Version : The curious case of USD $1.2 Billion, Warka bank & Allawi, al-Alusi

04-05-2016, 03:39 PM
Allawi, al-Alusi is suing for allegedly transferred $ 1.2 billion abroad


announced that the President of the National Coalition Office of the Prime coalition Iyad Allawi sue MP for theCivic Democratic Alliance Alusi after the latter accused of converting billion and $ 200 million abroad when he was president of the interim government from 2004 to 2005.

A statement by the office of Allawi received by all of Iraq [where] a copy of it, "Mithal al - Alusi, claimed by Channel [satellite], issuing Allawi at his first prime minister directed the Warka Bank Ahli headed by Saad structure to convert an amount of $ 1200 million billion two hundred million dollars] out of Iraq. "
He added that" this claim by Mithal al - Alusi to get this incident a liar and a free health completely and absolutely, as Alusi did not mention the beneficiary that has been a huge a amount of conversion of one billion and two hundred million dollars and when was this conversion ?! ".

The statement pointed out that" any prime minister does not address the private banks directly because it is not the executive of the conversion but you mean correspondence that I found to the Ministry of Finance and theCentral Bank of Iraq and these two institutions are the two Deciding how to deal with the transfer of an amount ofthis size . "

the statement stressed that" can refer to the Adel Abdul - Mahdi, Minister of Finance and timely Shabibi Governor of the Central Bank of Iraq at the time to make sure that such an incident did not get at all , "noting that" private banks to possess such an amount and could not get even a portion it is only through the Central Bank. "

said Allawi 's office , " we will bring legal action against Alusi for libel and defamation , especially as the Warka Bank , which dates back to the family did not have any decent forward such an incident and distance himself from such lies. "

http://www.alliraqnews.com/modules/n...?storyid=34807 (http://www.alliraqnews.com/modules/news/article.php?storyid=34807)

04-05-2016, 04:26 PM

04-05-2016, 05:52 PM
Thanks for the info W-I-H, glad someone is still keeping up with the Warka news.

Heard this morning on CNN that former Interim Iraq PM Iyad Allawi was one of the persons named in the "Panama Papers" scandal. There was no mention of Warka Bank but it was a very short segment.

Would seem improbable that Warka could of made such a transfer of over 1 Billion dollars since the most I ever saw on their financials was far less than the amount mentioned.

But Who knows...it is Iraq!!!

04-05-2016, 06:31 PM
i am pretty certain there are many Iraqi officials mentioned in the Panama papers

04-08-2016, 12:41 AM
Alsumaria News / Baghdad
considered the Warka Bank, on Thursday, was announced by Mithal al - Alusi on theconversion of a significant amount of Iyad Allawi is "incorrect allegations", indicating that all the bank 's operations was done according to the law and properly. The transfer of Allawi 's office , quoting a statement of the bank received Sumerian News acopy of it , "we are surprised by a statement Mithal al - Alusi of a satellite about converting a large amount by the bank due to former Prime Minister Iyad Allawi, which has been altered aggressively calling for a provocation unprecedented , without reinforcing the documents required in such a charge and so is the claim defamation for the purpose of some political projection , which has consistently promoted especially for utilitarian purposes. "

He said the bank was "at a time when the central bank embarked on the rehabilitation of the bank process and the crisis that you know the causes and causes nothing to do with all these crisis allegations MP Mithal al - Alusi , which we do not find her interpretation at all we do not know why this bank is fighting directly and periodically and if a hand manipulated in the interests of all of this combining who is looking forward to the rehabilitation process that protects the rights of the waste and loss ,"noting that" such allegations directly affect the rehabilitation of the bank , which hurt the interests of depositors, shareholders and all those who linked their interests with the process. " he said the bank was" unprecedented Prime Warka Bank administration meet MP Mithal al - Alusi in any forum of the forums did not speak with him in such a claim at all in order to Spbouapn first, Saad structure did not visit Iraq since the ten -year - old has visited recently at the request of the Governor of the Central Bank to discuss the status of the bank secondly , that the President of the board of Directors isnot people who speak with outsiders words have no connection with him. " He added the bank said , " Mithal al - Alusi is not a bank or in a position to achieve with Saad structure to convey such an alleged say is a matter of disgust because this statement does not issue , but from someone who does not know the banking business at all and also betrays a bad attitude is not characterized by Saad structure as if the chairman of the board boy called to speak haphazardly and Atsamer with an example not being used to live outside Iraq and holds the most prestigious academic degrees , "pointing out that" this claim if he intended to bring down Allawi , there is no need to hurling thename of Saad infrastructure and the Warka Bank , which is in the role of rehabilitation in order to be a bridge that crosses it Mithal al - Alusi, so this talk is totally rejected because it lacks the argument and common sense. " he noted the bank that" just like any other government and private banks practicing credit work in all its activities and from the process foreign exchange , "noting that" if the bank has about amounts during the period of the government of Iyad Allawi , there is no doubt that he did so on thebasis of the instructions of the Central Bank and the approval of the relevant ministries as well as the competent minister , even in some cases with the consent of thePresident of the coalition Provisional authority and the bank 's interest in it is customary commission according to the central bank instructions. " he emphasized the bank he was" ready to enclose all required documents to refute the statement in what heclaimed MP Mithal al - Alusi and says it by the media in order to determine how Iyad Allawi, Madha said its operations were all carried out under the law and properly no dust by the central bank is aware of and familiar with them and that he is committed fully to the provisions of money laundering Act No. 93 of 2004. " the press office of Iyad Allawi, on Tuesday, he has said he would sue the President of the Umma party ,Mithal al - Alusi because of his claims about converting Allawi sums of money to outside Iraq during the becoming prime minister. he claimed Speaker of the National Party MP Mithal al - Alusi through one of the channels, issuing Ayad Allawi at his first prime minister directed the Warka Bank Ahli headed by Saad structure to convert theamount of $ 1200 million dollars (one billion two hundred million dollars) out of Iraq. "


04-08-2016, 01:05 PM
Thanks Best!

I like the seriousness sound Saad put into his response to these allegations. Hope he applies the same seriousness to getting Warka back on top.

04-08-2016, 07:36 PM
so the $1.2 Billion came from the CBI and transferred out via Warka ??