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  1. #1
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    Financial Services Tribunal are suit Warka Bank and confirms the tutelage of the cent

    Financial Services Tribunal are suit Warka Bank and confirms the tutelage of the central him


    warkaacentralbank BAGHDAD / obelisk: judicial source revealed on Wednesday, a court competent to consider financial services in banking litigation suit Warka Bank responded allowing the central bank to impose guardianship on the Warka Bank to court reaffirms weak financial liquidity of the bank.
    A judicial source told "obelisk" on condition of anonymity that "the decision was issued by a court competent to consider financial services in banking litigation and the judge refund suit Warka Bank and so the central bank continues to impose a trusteeship on the Warka Bank"
    The Central Bank of Iraq, announced Thursday 14 last March for his quest to make objection to the decision of the Court of Appeal Rusafa judge to overturn a court decision financial services to impose trusteeship Warka Bank and taken by the Central Bank of Iraq due to poor financial liquidity of the bank and its failure to repay depositors' rights of citizens, He pointed out that "the central bank legal proceedings which are in the process of maintaining the interests of customers and the national economy is still list as authorized by its own law so."
    The Central Bank of Iraq announced, (March 5, 2012) on the status of the Warka Bank under guardianship after the failure of talks with British bank Standard Chartered, which began in April 2011 to buy a stake in it due to a financial crisis summoned and placed under guardianship.
    The CBI gave Warka Bank over the past year for ten days to comply with its decisions Judge deposit of $ 200 billion Iraqi dinars and not to damage the interests of dealers with him.
    The Warka Bank has published a spitting image of what it said was a decision by the Appeals at the head of the resumption of Baghdad - Rusafa and the judge to accept the appeal filed by the bank against the decision to put the trusteeship by the central bank.
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  2. #2
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    I cant make out if this is positive or negative!!!
    Any thoughts folks??
    DINAR INDEX.COM London UK - Investments in the New Iraq - Currency Buy/Sell - ISX (Iraqi Stock Exchange) Facilitation - Iraqi Banking Services - Facebook.com/DINARINDEX - IIF Member since 2005

  3. #3
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    I believe it's no different than the 3 zero removal of the currency...there aren't enough smart people in power to accomplish anything. Corruption has contaminated both the financial and political processes, purifying those branches by 10%-30%, still keep 50%+ on the take. We're looking at another 3 years before China/Iraq align...who know what will happen then.

  4. #4
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    Quote Originally Posted by Dinar Index View Post
    I cant make out if this is positive or negative!!!
    Any thoughts folks??

    i think it means that warka won the case but are still under guardianship

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