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The Iraqi Central Bank imposes tutelage on a bank with an Iranian contribution

A government source revealed on Thursday that the Central Bank of Iraq imposed tutelage on the “Islamic Cooperation” Bank financed by Iranian banks in the country.

The source told Shafaq News that the Central Bank imposed trusteeship on the bank, based on the decision of the board of directors of this bank and based on paragraph (1 / d) of Article (59) of the Banking Law No. 94 of 2004

The source indicated to the formation of a committee from this bank to supervise it and take all the powers granted to it, according to the above banking law.

It is noteworthy that the biggest contributors to this “Islamic Cooperation” bank are Iranian banks, which are “New Economy, Shawarzi”. Source