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View Full Version : Warka Bank Won Legal Case Against CBI : Gleanok



guardian
06-16-2013, 06:16 AM
Warka Bank Won Legal Case Against CBI (http://www.gleanok.com/warka-bank-won-legal-case-against-cbi/)

Posted by Iraqi Dinar on May - 23 - 2013
http://www.gleanok.com/wp-content/uploads/2013/05/judge-and-scale-of-justice-big-pic-300x230.jpg (http://www.gleanok.com/wp-content/uploads/2013/05/judge-and-scale-of-justice-big-pic-e1369288674267.jpg)

Despite the fact that current Iraq government is ruling for the last 7 years, serious corruption cases in different sectors have been identified by the anti-corruption agencies. The United Nations Development Organization cannot figure out how is the total amount of corruption in various reconstruction projects in Iraq.

Warka Bank for Investment and Finance filed a legal case against the Central Bank of Iraq. The case was based on the claim that the current financial decline of the Warka Bank for Investment and Finance is due to the wrong policies of CBI. According to Warka Bank, Iraq Ministry of Finance and CBI are responsible for the financial crises of the Warka Bank, faulty decisions, mismanagement, misdirection and the slow reaction of CBI and Minister of Finance are the root causes of the liquidity crises.

The representative of Warka Bank claimed that the Iraqi Supreme High Court had announced a judicial decision in full favor of the Warka bank. The bank congratulated its management on this decision.

According to Warka bank, the court accepted their plea and declared that Warka Bank had followed all the parameters, formalities, guidelines, protocols and regulations set by the CBI and Ministry of Finance. The victorious bank has posted a copy of the decision for all the stakeholders including the board of directors, management, shareholders, clients and viewers.

This decision has come into the situation when Iraq Federal Budget 2013 is in the parliament for the final approval. Some multinational banks like Standard Chartered bank and BLF are opening their branches in the country.

http://www.gleanok.com/warka-bank-won-legal-case-against-cbi/

tmorr37
06-16-2013, 12:32 PM
Some multinational banks like Standard Chartered bank and BLF are opening their branches in the country.
Standard Charter Bank is going it alone, this has nothing to do with warka

Will-it-happen?
06-16-2013, 01:30 PM
Standard Charter Bank is going it alone, this has nothing to do with warka

how do you know that ?

Scripterian
07-02-2013, 11:59 AM
I think the questions here are; does this mean that Warka Bank might think of re-opening its branches in the north region(Kurdistan)? How Warka will do in this regard and how they will pay back to the clients who lost their deposits and savings in Warka during the crises?