View Full Version : CBI puts Islamic Bank under trusteeship

11-03-2009, 07:58 PM
Central Bank of Iraq puts the Iraqi bank for Investment and Development under the trusteeship (http://www.alrafidayn.com/2009-05-26-22-07-53/3373-2009-11-03-09-57-23.html)

Tuesday, 03 نوفمبر 2009 09:56

http://www.alrafidayn.com/images/stories/imagecom/dollares.jpgIraqi Central Bank has decided to dissolve the Department of Islamic bank and putting it under the tutelage of the Central Bank until the election of new board of directors through the Commission on the tutelage will be later.
A source familiar with the decision to the solution came to a decision based on the bank's board and as a result of the violations by the Iraqi Islamic Bank for Investment and Development, charged with violating the provisions of the Banking Act in force and orders with the bank Alkirkzi.
The source pointed to investigate the journalist who published the situation issued on October 25 in number 405 of 2009, which touched on the financial situation of the Iraqi Islamic Bank and the statement of former chairman of the board who tried to deceive the eye by referring to the incorrect things at all, relating to dealings Finance may request him Warka Bank. (he said).
For his part, an official source in the Iraqi Warka Bank is also true that Warka Bank and subsidiary companies and shareholders as much the largest in the Islamic bank were closely watching the financial irregularities committed by the chairman and his assistants, which have hurt the Iraqi Islamic Bank.
He continued as a result of this has been the dissolution of the entire administration and the development of Islamic bank under the tutelage of the Central Bank, as the central bank is the oversight of all private banks and the extent of commitment to the provisions of the law. (


Just curious, but why is the picture of US dollars and not Iraqi dinar?

war eagle
11-04-2009, 08:36 AM
I sure hope they get their act together since I own over 1 million shares of their stock!!