View Full Version : Appeal to the need to launch citizens' deposits with banks Warka and Basra

04-26-2013, 11:47 PM
Appeal to the need to launch citizens' deposits with banks Warka and Basra

منشور في: 2:46 م, أبريل 26, 2013 (http://ipairaq.com/%d9%85%d9%86%d8%a7%d8%b4%d8%af%d8%a9-%d8%a8%d8%b6%d8%b1%d9%88%d8%b1%d8%a9-%d8%a7%d8%b7%d9%84%d8%a7%d9%82-%d9%88%d8%af%d8%a7%d8%a6%d8%b9-%d8%a7%d9%84%d9%85%d9%88%d8%a7%d8%b7%d9%86%d9%8a%d 9%86-%d9%84/) المحرر: ipa 2 (http://ipairaq.com/author/nizar/)

BAGHDAD (Iba) .. Economic Information Center appealed to the central bank to give assurances to depositors about the safety of their deposits with the bank Warka and Basra.

The head of the center Dergham Mohammed Ali that the numerous complaints received from the depositors in the Warka Bank in addition to the Bank of Basra to the Media Center Economic about the absence of the horizon so far in restoring their deposits and accounts after more than a year on the crisis Warka Bank and months on the Bank of Basra.

He added that the media center of economic appeals to the Central Bank of the need to give assurances to depositors about the safety of their deposits in banks, especially after the verdict of the court to confirm the tutelage of the Central Bank of the Warka Bank, which allows him direct supervision and calculation of the Bank's assets and follow-up of loans granted by him and try to be collected.

He pointed out that the CBI is to ensure the work of private banks and the consequent control over the banks and prevent their access to the stage of the threat of citizens' deposits. (End)

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04-27-2013, 05:02 AM
Unless I am reading and sensing it wrong, to me seems like Warka bankruptcy is pretty much a done deal as in this and other recent articles depositors seems to be seeking information on fate of their deposits after the bankruptcy. Hopefully CBI would end up in smooth transfer of Warka to some credible bank. On positive note it was a good thing that bank was under CBI supervision and hopefully owners may not be able to cause more damage to the deposits like clean up the shop and ran away to the country next door. Still on the bad side Owners were leaders in banking industries and were making aggressive moves to make Warka a top player which now we may not see this happen.

Dinar Index
04-27-2013, 06:49 PM
I read this as:-
Warka bank continues under CBI tutelage/liquidation. Sounds to me CBI won appeal and have shown why Warka should be in this position
Is urging CBI now to make a statement regards safety of depositors money - Which i for one would like to see what assurances CBI makes (I believe we are covered up to 5 million dinar).

CbI have given Bunnia family the option to come up with the required funds to end tutelage by the end of last year - that didnt happen!! This looks like a high stakes game of poker !! Are warka using the court system to delay things giving time to raise the funds..is this a move by the CBi to force Bunnia to sell up.etc etc I do believe there will be a solution as Bunnia has far more to lose than we all do!!