"THE UST & THE CBI PROTECT THEIR BANKS TO GO PROACTIVE FOR THE MONETARY REFORM!!!" BY FRANK26, 6 AUGUST

 KTFA

FRANK26: "THE UST & THE CBI PROTECT THEIR BANKS TO GO PROACTIVE FOR THE MONETARY REFORM!!!"..........F26

The Central Bank of Iraq imposes guardianship over an “Islamic” bank.. Document

8/5/2024

 

The Central Bank of Iraq announced, in an official document, the imposition of guardianship over the "Zain Iraq Islamic Bank". 

This decision comes, according to an official letter obtained by Shafaq News Agency, as a result of improper practices and unsatisfactory performance by the bank’s management, which threatens the independence and integrity of the Iraqi banking system.

The document explained that the decision of the Board of Directors of the Central Bank, No. 165 of 2024, was issued based on the provisions of Article 59 of the Iraqi Banking Law No. 94 of 2004. 

Jalal Abdullah Salman has been appointed as a trustee of the bank, in accordance with the provisions of Article 60 of the same law, and he is granted the powers specified in this decision.

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