Monitoring delays in repaying loans of the Industrial Bank

Monitoring delays in repaying loans of the Industrial Bank



06-09-2018 04:17 PM

The Euphrates -

On Thursday, the Preventive Security Department called on the Integrity Commission to develop effective solutions for the contribution of the Industrial Bank to 27 companies, most of which are suspended from work. First, they achieve any profits, contributing up to JD38 billion, In order to benefit from those amounts in the increase of capital (175 billion,000) billion dinars, in line with the amount planned by the Central Bank of Iraq.

In order to find out the measures taken in the light of the observations made in the comprehensive report prepared by the Department in July 2017, the Department of Banks has set up an appropriate mechanism to control the issue of loans and facilities Advances through the organization of the files, the establishment of an electronic database that provides detailed data on the stages of completion of the transaction and the position of the loans or advances to secure the rights of the Bank and the borrower alike "

The statement added that "the report sent to the Office of the Minister of Finance monitoring the large delay in the payment of installments due to the borrowers, as the total payments during the period following the issuance of the comprehensive report in July 2017 to June 2018 (24,594,862,366) billion dinars out of non-debt (76,111,616,999) billion dinars, indicating that the management of the bank has taken the initiative to take legal action against debtors for the payment of debt or loans, except in recent years, most of them in 2016 and 2017, with emphasis on the ministries and their directorates to urge its employees to pay , Take Legal procedures to seize the borrowers' salaries Almtlkian and sureties. "

He added that the bank has allocated 15,000,000,000 billion dinars to three companies by 5,000,000,000 billion dinars for each company to produce industrial vehicles in 2015, as the intermediary financed by the company equipped for cars and borrowers. On the basis of which these loans to the loss of funds of the bank, where a number of measures were taken to ensure the recovery of the bank's money was to increase the value of the deposit, with real estate guarantees accepted by the bank worth (billion dinars), not to be launched until after the end of repayments, By paying The lending contract must be made and the guarantor must be a government employee on permanent staff. "

According to the statement, "the report estimated the percentage of the bank's response to the observations made in the comprehensive report (50%), except those that are dealt with outside the powers of the bank's management, which requires the administration to address the remaining ones; Loan transactions in full or conduct a comprehensive audit, but is only to take random samples of them, as well as the lack of inspection visits to branches of the Bank in Baghdad and the provinces.

The statement pointed out that "Al-Takriri noted that the feasibility studies for industrial projects are not prepared by specialized academic and professional staff, and that the borrower submits a feasibility study on the project for which the borrowing is intended by consulting offices approved by the Ministry of Planning. Not feasible in the preparation of technical and economic studies. "

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