Civil responsibility For the bank to approve the overdraft


  • wedad Wahib Lahmoud Faculty of Law, Thi-Qar University


The adoption of the overdraft or the so-called financial contract as stipulated in the Iraqi Trade Law No. (30) of 1984 is a binding contract for two parties established by an agreement between the bank and the client. The obligations related to enabling the customer to use the amount of credit during a certain period with The obligation of the customer to repay the amount with interest to the bank after the end of the period, the responsibility of the bank occurs when he failed to implement one of his contractual obligations by canceling the credit before the period specified for him, which adversely affects the interest of third parties, or opening the credit without an estimate of the strength and merit of the material customer, To refuse renewal Despite the customer's need for this because of the threat of its financial position or the possibility of bankruptcy