Integrity Commission Reveals Forged Credit Operations in Rafidain Bank
|June 9, 2012||Filled under Iraq Daily News|
ERBIL, (AKnews) – Iraq’s integrity commission revealed today details of forged credit operations in the Ministry of Defense’s branch of Rafidain Bank, noting that the director of the bank granted illegal loans in excess of 150bn IQD ($129,000).
The commission said in a statement: “The director of the bank permitted illegal credit transactions to circumvent the conditions for granting loans to employees of the presidential regiments of a loan of 100 salaries.”
The statement added that “the director in coordination with one of the authorized persons was promoting lending transactions to members where the list of their names were received from that authorized without attending in person.
“They were taking advantage of holidays to send the bank staff to Erbil to take the fingerprints of unknown persons and they were disbursing loans before the completion of the credit transaction.”
The accused member of the bank gave individual loans of 100 salaries and she has promoted credit transactions without a guarantor from borrowers, added the statement.
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