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Auction currency between economic feasibility and corruption suspicions


yota691
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Monday, November 27,

 

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Alsumaria News / Baghdad 
The MP for the Liberal Liberal bloc MP Musawi al-Musawi, on Monday, the existence of what he described as a process of "systematic theft" and the depletion of the hard currency in the treasury of the state through several aspects, while Prime Minister Haider Abadi to intervene immediately and open an investigation, To the existence of documents proving the withdrawal of hard currency passports citizens without their knowledge.

Al-Moussawi said in a press conference held in the parliament building and attended by Alsumaria News, "There is a systematic theft and depletion of hard currency in the treasury of the state through several aspects, the first of which is the sale of hard currency $ 3 thousand dollars for every citizen holds a travel visa through banks," noting that "What happens in some banks that sell hard currency obtained from the Central Bank and in fact the currency is not sold to the citizen, but there are travel companies take the passports of travelers to the reservation and give them to the employee to withdraw this currency and sell in local markets again and not to the citizen. 

 


Al-Moussawi called on Prime Minister Haider al-Abbadi to "immediately intervene and open an investigation of thefts and the depletion of hard currency by currency auction," calling on the central bank governor to "reconsider the procedures followed in dealing with private banks." 

"We have passports of citizens and a list of their names, and they do not know that their name is $ 3,000 for each passport. This operation takes place in a house in Zayouna," he said. 

The member of the Committee on Economy and Investment Parliamentary Abdul Salam al-Maliki warned, on Thursday (June 1, 2017), the entry of the Central Bank in a spiral of corruption led by what they described as "influential Arab godfathers" through the opening of banks without controls to speculate in the currency market and contribute to money laundering and corruption, That the sale window of the currency became "to smuggle currency and sell Iraq."

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5 hours ago, Donziman said:

Cheaters and thieves all. This is a trait that is passed on from father to son. Imagine

this is a way of life with many generations Look at Maliki and his son as an example.

Sad to say, but we have the VERY SAME problem right here in the good old USofA

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Sumer News) opens the file of the depletion of hard currency in Iraq

ALL 30 
 02 December 2017 - 11:49 | Number of readings:   
 
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BAGHDAD (Reuters) - Iraq has warned of the risk of smuggling and new money laundering in Iraq as part of the hard currency drain in Iraq,

The sources said that "the withdrawal of a difficult currency in the names of citizens without their knowledge .. and the smuggling of funds by the names of citizens died .. crimes can not be tolerated or reckless with it and is one of the most serious crimes."

"We have heard and in concrete reality about the sale of land, orchards and houses without the knowledge of citizens and the withdrawal of loans and advances from banks and banks without the knowledge of citizens, but that the smuggling and laundering of money names of deceased, this is a dangerous precedent."

The same sources revealed that "there is a systematic theft and depletion of hard currency in the treasury of the state through several aspects, the first of which is the sale of hard currency for $ 3 thousand dollars for every citizen who holds a travel visa through banks."

"In fact, the currency is not sold to the citizen, but there are travel companies of persons backed by taking the passports of travelers to the reservation and give them to the employee pulls this currency and sell in the local markets again and not to the citizen."

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  • yota691 changed the title to Auction currency between economic feasibility and corruption suspicions

Auction currency between economic feasibility and corruption suspicions

 

 Since 2017-12-05 at 12:10 (Baghdad time)

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Special Mawazine News

Many question marks are raised about the current currency auction at the CBI, what is its usefulness to the Iraqi economy, how is the auction process and what is the fact that the wealth of workers and speculators in this big stock exchange and the suspicions surrounding it grow?

The legal expert in the name of Antoine, "The auction of currency sold daily in the Central Bank of 150 160 dollars, and that these funds do not all go to the issues of production and import," pointing out that "many corrupt make fun of these amounts for illegal purposes such as money laundering and smuggling" .

Antoine said in an interview with Mawazine News that he would prefer to be given imports in accordance with documentary credits and according to an investment platform, and put the funds in the allocated places. He pointed out that the price sold in the market is about 60 dinars per dollar, 50 million dollars. "

According to the legal expert, "the difference obtained from these funds is not in the interest of the citizen, but benefit from a certain class of banks and others, so it causes the loss of a lot of money."

The spokesman for the Central Bank of Iraq, Acer Jabbar, that "the window selling foreign currency came in a timely and emergency because Iraq does not have income from the dollar."

"The dollar comes to Iraq only through the sale of oil through the oil marketing company Sumo and these dollars are reflected on the Ministry of Finance, which does not need the dollar significantly, because the expenses of the state is the Iraqi dinar."

"These dollars go to the central bank and replace it with the Iraqi dinar according to the mechanisms and accurate calculations, and this dollar goes part of it to the window selling the currency and the other part goes to the reserve."

Jabbar pointed out that "what goes to the window selling the currency to cover the requests of customers because traders can not import only through the dollar, usually in most countries the dollar is a trader in the market," but "but the task of feeding the customer in hard currency is the task of the bank Central ".

The official spokesman explained that "the central bank after the customer comes and has official documents of customs and tax on imported goods, we feed him in dollars," noting that "the process of controlling corruption and forgery is not the competence of the central bank alone, because this is the task of other outlets Border, customs and tax ".

"The United States today tried to control the dollar, and the world was amazed that it had gold, so the price of the dollar rose, and countries started to buy it," said Jamila Mohammed, a member of the House of Representatives' Economics and Investment Committee.

"The monetary policy in Iraq is covered by corruption, as is the case with other state institutions," Mohammed told Mawazine News.

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