CBI: new measures to control the dollar and reduction of smuggling out of Iraq

[Carrello]

Central Bank of Iraq to take new measures to control the dollar and the reduction of smuggling out of Iraq

05/02/2012 09:54:29

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http://ipairaq.com/index.php?name=inner&t=economy&id=50524

BAGHDAD (Iba) .. Began the CBI application of new measures over the sales of the dollar, which led to a significant reduction in the rates of sales at the weekly auction which is evaluated by the bank. The decision must be increased in the recent warngs of attempts by traders Iranian and Syrian purchase of hard currency by Iraqi agents because of Sanctions imposed on both Iran and Syria fall in the value of local currency in these two neighboring countries of Iraq.

Deputy Governor of the Central Bank of Iraq the appearance of favor in press statements that the new regulations stipulate that knows the bank who wants to get on the dollar for his clients, who asked him to buy the currency. He that the customers bank to prove ownership of personal accounts in which money and have a base of actual information in the bank in addition to income Mahddmodha that the reason behind these measures is due to a lot of buyers hiding behind other people, ie, that of buying is not a real person. and was rejected in favor linking

This decision carries the burden of sanctions on Iran, Syria, said that regional factors are important and workers especially Syria and Iran, because there is overlap between the trade of these countries as well as Turkey and Saudi Arabia and the Gulf. He said that Iraq has seen in recent gift in the demand for the dollar. And caused these measures in a significant decrease rates of dollar selling in the auction, hosted by the Central Bank of Iraq every week between Sunday and Thursday. showed daily bulletin issued by the Central Bank of Iraq for its daily auction sales dollar on Thursday amounted to about four million dollars, knowing that the auction Stopped for the day Friday, Saturday and Cdj because of the holiday.

sources say financial and economic figures that Iraq has become the largest arena for money laundering, the Iranian and washed by pumping Iraqi dinars false and the withdrawal of the dollar. Sources confirm that the phenomenon has become more like economic disaster surprising of overlooked despite the fact that the Iraqi dinar fake invades markets and the dollar pulls out of the Iraqi market to Iran and Syria. (she said) and accused the banks of civil that it has become a cover for laundering the money, one of the easier the process of investment Iran, Iraq. For his part, warned the head of the economy and investment parliamentary Ahmed Suleiman al-Alwani Manalanekasat grave consequences for the Iraqi economy because of smuggling millions of dollars and quantities of gold to Syria and Iran. said Alwani, there are destinations in Iraq trying to work to relieve the pressure on the Iranian and Syrian governments through the smuggling of money in millions of dollars, as well as the smuggling of gold to support the economy of those countries.

had previously told the independent press (Iba) quoted a former deputy Taha Lahibi the end of January the past as saying that Iran and the help of some of the customers who sold the Iraq plunging the Iraqi market Iraqi currency counterfeiters. He Lahibi to Iran's introduction of the Iraqi currency counterfeit to Iraq through Syria for the purpose of buying foreign currency in the silence of a government in place . revealed in media reports that the Iraqi-Iranian border is witnessing huge demand for dollar by the Iranians after the decline in the value of the currency of Iran (Altoman) as a result of economic sanctions imposed on Iran. (end)

[zigmeister]

What are your thoughts Carrello on these articles?

[redsand]

Im telling you when this currency revalues, the government will be so scared that we are holding onto counterfeit dinars...or as they say "dinar fake" in the article

[TFK]

I think they have basically stopped selling the dollar for dinars for the reason's said. The auctions show that, but to say that it's because of counterfeit dinars is a stretch to me.

Local banks and the CBI aren't going to accept counterfeit dinars. They're not stupid! think about it. That would be billion's and billion's of counterfeit dinars. Not going to happen!!!

There's no way they'd be giving greenbacks for BS money!!!!

[funkemaster]

I was in Peru for a while. It was common down there to have counterfeit money. Even from the bank... When we would do any withdrawals or exchanges we would always check our money before accepting it. I don't think there any reason to think things could be a lot different there in Iraq as far as counterfeits go. It's not really an everyday problem in USA for most people (I've never had money I knew was counterfeit in my entire life). But in other parts of the world it's just part of everyday life. You don't really even think much about it. Its just something you do.